Posted at 22 July 2025 / Categories Market Roundups
Market Roundup
•Finnish Unemployment Rate (Jun) 9.3%,8.8% previous
•UK Public Sector Net Borrowing (Jun) 20.68B, 17.40Bforecast, 17.44B previous
•UK Public Sector Net Cash Requirement (Jun) -16.108B, 20.959B previous
Looking Ahead Economic Data(GMT)
•12:55 Redbook (YoY) 5.2% previous
•14:00 US Richmond Manufacturing Index (Jul) -2 forecast, -7 previous
•14:00 US Richmond Manufacturing Shipments (Jul) -3 previous
•14:00 US Richmond Services Index (Jul) -4 previous
•17:00 US M2 Money Supply (MoM) (Jun) 21.94T previous
Looking Ahead Events And Other Releases(GMT)
•17:00 US FOMC Member Bowman Speaks
•17:00 ECB President Lagarde Speaks
Currency Forecast
EUR/USD: The euro was little changed on Tuesday as investors awaited any signs of progress in talks ahead of an August 1 deadline that could bring steep tariffs for U.S. trading partners that fail to strike deals. U.S. President Donald Trump has threatened to levy 30% levies on European goods if no agreement is reached, heightening fears about transatlantic trade tensions. According to EU diplomats, the European Union is preparing a wider range of retaliatory measures in response, as hopes for a mutually acceptable agreement with Washington continue to dim. Adding to the market's focus, the European Central Bank is widely expected to keep interest rates unchanged at 2.0% when it concludes its policy meeting on July 24, following a series of rate cuts in recent months. The euro was last trading at $1.1689, after rising 0.5% in the previous session . Immediate resistance can be seen at 1.1828(23.6%fib ), an upside break can trigger rise towards 1.1877(Higher BB).On the downside, immediate support is seen at 1.1616(38.2%fib), a break below could take the pair towards 1.1500(June 16th low).
GBP/USD: The British pound edged lower on Tuesday after data showed the UK government borrowed more than expected in June, intensifying concerns over the country’s fiscal outlook. Public sector net borrowing rose to £20.7 billion ($27.9 billion), well above the Office for Budget Responsibility’s forecast of £17.1 billion. The overshoot, driven in part by high inflation increasing debt servicing costs, may fuel speculation about potential tax hikes later this year. Separate data showed grocery price inflation accelerated to 5.2% in the four weeks to July 13 up from 4.7% previously and the highest rate since January 2024. The figures echo last week's CPI report, which also revealed a stronger-than-expected pickup in nationwide consumer inflation. Immediate resistance can be seen at 1.3597(38.2%fib), an upside break can trigger rise towards 1.3680(July 4th high).On the downside, immediate support is seen at 1.3439(50%fib), a break below could take the pair towards 1.3381(Lower BB).
AUD/USD: The Australian dollar moved down on Tuesday as investors analyzed the Reserve Bank of Australia's (RBA) July meeting minutes. The minutes underscored the central bank’s ongoing preference for a "cautious and gradual" easing plan, with officials expressing reluctance to slash interest rates too forcefully amid mounting requests for stimulus. Most RBA board members at the July 7–8 meeting viewed the 3.85% rate to be slightly restrictive, but highlighted ambiguity about how much space remained to reduce before attaining a neutral posture. The RBA said some data indications had been in line with or even slightly stronger than predictions, highlighting to the advantage of waiting for a bit longer. Looking ahead, traders will keenly follow statements from RBA Governor Michele Bullock, set to appear in Sydney at 0305 GMT on Thursday. Her comments. Immediate resistance can be seen at 0.6565(23.6%fib), an upside break can trigger rise towards 0.6582(Higher BB).On the downside, immediate support is seen at 0.6440 (38.2%fib), a break below could take the pair towards 0.6413(Lower BB).
USD/JPY: The US dollar declined against the Japanese yen on Tuesday as markets continued to digested LDP-Komeito coalition's election defeat. Japan's governing LDP, led by Prime Minister Ishiba, won 47 seats in the upper house elections, falling just short of the 50 seats required for power.While the election result has been widely anticipated by markets, it comes at a critical time for Japan, which is attempting to reach a trade agreement with President Trump by August 1. Following the election, the BOJ may be obliged to strike a delicate balance between controlling growing inflation pressures from planned fiscal expenditure and navigating political stalemate and trade war concerns that advocate against tightening. Investors are nonetheless concerned on Trump's intensifying trade maneuvers, after a Financial Times story last week that he was pressing for steep additional taxes on EU imports. Immediate resistance can be seen at 149.50(38.2%fib)an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 147.25(50%fib)a break below could take the pair towards 146.91(SMA 20).
Equities Recap
European shares edged lower on Tuesday as investor sentiment weakened amid dwindling hopes for a U.S. trade deal ahead of the looming August 1 deadline.
At GMT (13:38) UK's benchmark FTSE 100 was last trading down at 0.14 percent, Germany's Dax was down by 0.99 percent, France’s CAC was down by 0.76 percent.
Commodities Recap
Gold prices eased on Tuesday as investors locked in profits following a sharp rally that pushed the metal to a five-week high.
Spot gold fell 0.2% to $3,388.13 per ounce by 1120 GMT. Earlier in the day, bullion hit its highest since June 17.U.S. gold futures were down 0.3% at $3,397.80.
Oil prices fell for a third straight session on Tuesday, as escalating trade tensions between the U.S. and EU sparked fears of weaker economic activity and slowing fuel demand.
Brent crude futures were down 53 cents, or 0.8%, to $68.68 a barrel at 1219 GMT. U.S. West Texas Intermediate crude was at $66.57 a barrel, down 63 cents, or 0.9%.