Posted at 22 July 2025 / Categories Market Roundups
Market Roundup
•US Redbook (YoY) 5.1%, 5.2% previous
•US Richmond Manufacturing Index (Jul) -20,-2 forecast, -8 previous
•US Richmond Manufacturing Shipments (Jul) -18, -5 previous
•US Richmond Services Index (Jul) 2, -1 previous
Looking Ahead Economic Data(GMT)
•01:00 Australia MI Leading Index (MoM) (Jun) -0.1% previous
•05:00 Japan BoJ Core CPI (YoY) 2.5% forecast, 2.5% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro strengthened on Tuesday as dollar dipped as investors tracked talks ahead of an August 1 deadline that could bring steep tariffs on products of 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. A U.S.-EU trade deal remains out of reach ahead of the looming August 1 deadline, when 30% tariffs could take effect. EU diplomats said they are weighing broader countermeasures amid dimming hopes for an agreement. Meanwhile, the European Central Bank is scheduled to meet this week, though no rate change is expected. The euro climbed to a two-week high earlier in the 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 steadied on Tuesday as dollar dipped on lingering concerns about trade as a Fed policy meeting and tariff deadline approach next week. Treasury Secretary Scott Bessent said there is no need for U.S. Federal Reserve Chair Jerome Powell to immediately step down. Bessent added that he will meet his Chinese counterpart next week and discuss what is likely to be an extension of an August 12 deadline. A trade deal with China has disinflationary implications and allays fear of China Treasury sales. President Donald Trump said Powell is a "numbskull" who has kept interest rates too high and he will be out in eight months. Trump also announced a trade deal that would see the U.S. tariff rate on goods from the Philippines cut to 19% from 20% and said he may visit China soon. In data, the Richmond Fed's composite manufacturing index fell to -20 in July from -8 in June. 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).
USD/CAD: The Canadian dollar firmed on Tuesday as the U.S. dollar dipped as investors closely watched President Trump’s looming August 1 tariff deadline. Trade policy uncertainty remains high as the self-imposed deadline for reaching agreements with multiple countries approaches. Treasury Secretary Scott Bessent said he plans to meet his Chinese counterpart next week to discuss a possible extension to the August 12 tariff deadline on Chinese imports. Meanwhile, Canadian Prime Minister Mark Carney stated that Canada will utilize all available time to finalize a trade deal with the U.S. Growing fears of a 35% tariff on Canadian goods have sparked concerns of an escalating trade war and fueled a "Buy Canadian" push among businesses and consumers.Immediate resistance can be seen at 1.3671(38.2% fib), an upside break can trigger rise towards 1.3755 (50% fib).On the downside, immediate support is seen at 1.3565(23.6%fib), a break below could take the pair towards 1.3542(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 147.50(38.2%fib)an upside break can trigger rise towards 148.94(23.6%fib) .On the downside, immediate support is seen at 146.25(50%fib)a break below could take the pair towards 145.07(61.8%fib).
Equities Recap
European shares ended lower on Tuesday, with Germany's benchmark suffering its steepest fall in two months, as weak corporate earnings and fading hopes for a U.S.-EU trade agreement dampened investor sentiment.
UK's benchmark FTSE 100 closed up by 0.12 percent, Germany's Dax ended down by 1.09 percent, France’s CAC finished the day down by 0.69 percent.
The Dow edged higher while the Nasdaq slipped on Tuesday, and crude prices declined as investors weighed mixed earnings results and mounting evidence that President Donald Trump's prolonged trade war is pressuring corporate profit margins ahead of his looming deadline for trade deals.
Dow Jones closed up by 0.40% percent, S&P 500 closed up by 0.06% percent, Nasdaq settled down by 0.39% percent.
Commodities Recap
Gold rose to a five-week high on Tuesday, supported by ongoing trade uncertainty and declining U.S. bond yields, as investors remained focused on President Donald Trump’s looming August 1 tariff deadline..
Spot gold rose 1% to $3,428.84 per ounce by 2:10 p.m. ET (1810 GMT), hitting its highest since June 16.U.S. gold futures were up 1.1% at $3,443.70.
Oil prices declined for a third straight session on Tuesday, weighed down by diminishing hopes for a U.S.-EU trade agreement, which stoked concerns over a potential economic slowdown in major oil-consuming regions.
Brent crude futures were down 82 cents, or 1.2%, to $68.39 a barrel by 1:59 p.m. EDT. U.S. West Texas Intermediate crude futures for August delivery, set to expire on Tuesday, fell $1.05, or 1.6%, to $66.15 per barre