Posted at 25 July 2025 / Categories Market Roundups
Market Roundup
• US Durable Goods Orders (MoM) (Jun): -9.3%, -10.4% forecast, 16.5% previous
• US Durables Excluding Defense (MoM) (Jun): -9.4%, no forecast, 15.7% previous
• US Goods Orders Non Defense Ex Air (MoM) (Jun): -0.7%, 0.2% forecast, 2.0% previous
•EU Belgium NBB Business Climate (Jul): -10.8, -9.8 forecast, -10.1 previous
•Canada Budget Balance (May): -0.23B, -23.88B previous
•Canada Budget Balance (YoY) (May): -6.50B, no forecast, -43.15B previous
•US Atlanta Fed GDPNow (Q2): 2.4%, 2.4% forecast, 2.4% previous
•US Baker Hughes Oil Rig Count: 415, 421 forecast, 422 previous
•US Baker Hughes Total Rig Count: 542, 544 previous
Looking Ahead Economic Data(GMT)
•No Data Ahead
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD: The euro weakened on Friday as the U.S. dollar firmed as investors turned their attention to a busy week ahead featuring key economic data, ongoing tariff negotiations, and several central bank meetings. The Federal Reserve is set to hold a two-day policy meeting next week, where it is widely expected to keep its federal funds target rate steady at 4.25%–4.50%. The gathering comes amid renewed criticism from President Trump, who continues to pressure Fed Chair Jerome Powell for rate cuts. With the August 1 deadline for trade deals fast approaching, the U.S. and its global partners are intensifying efforts to strike agreements. European officials have drawn encouragement from a recent trade pact with Japan, announced. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.23% to 97.68, with the euro down 0.11% at $1.1741. 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: Sterling edged lower on Friday as soft UK economic data continued to weigh on pound. British retail sales rebounded in June following a sharp decline in May, but still came in slightly below analysts' expectations, according to data released Friday. Retail sales volumes rose 0.9% month-on-month in June, partially recovering from May’s sharp 2.8% decline the steepest drop since December 2023.This followed Thursday’s reports showing only modest growth in business activity for July and the steepest job cuts in five months. Markets are currently pricing in an 87.9% probability of a 25-basis-point interest rate cut by the Bank of England at its next meeting. Meanwhile, investors are closely watching to see if the European Union can strike a trade deal with the U.S. ahead of President Donald Trump's August 1 deadline. 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 1.3428(50%fib), a break below could take the pair towards 1.3381(Lower BB).
USD/CAD: The Canadian dollar weakened on Friday as hopes dimmed for a trade agreement with the U.S. ahead of the August 1 deadline. Adding to the pressure, U.S. President Donald Trump indicated that a deal with Canada may not be reached and hinted at the possibility of unilaterally imposing tariffs. With approximately 75% of Canadian exports headed to the U.S., the uncertainty weighed heavily on sentiment. Meanwhile, markets are also eyeing the Bank of Canada's upcoming rate decision on July 30. According to analysts, the central bank is expected to hold its key interest rate at 2.75% for a third straight meeting, supported by a recent uptick in inflation and falling unemployment. Still, economists widely anticipate at least two more rate cuts by year-end.The loonie was 0.5% lower at 1.3710 per U.S. dollar after trading in a range of 1.3639 to 1.3725. Immediate resistance can be seen at 1.3726(38.2% fib), an upside break can trigger rise towards 1.3812(Higher BB).On the downside, immediate support is seen at 1.3664(SMA 20), a break below could take the pair towards 1.3575(23.6%fib).
USD/JPY: The U.S. dollar gained ground against the yen on Friday as markets braced for a packed week of economic data releases, central bank decisions, and ongoing trade negotiations. Investors are closely watching next week’s Federal Reserve and Bank of Japan (BOJ) policy meetings, where both central banks are widely expected to keep interest rates unchanged. However, attention will center on the tone of their statements for clues on future policy direction.In Japan, a recently signed trade agreement with the U.S. may provide some policy flexibility for the BOJ. Still, political uncertainty following Prime Minister Shigeru Ishiba’s coalition’s loss in the upper house elections over the weekend has complicated the backdrop for monetary tightening. Immediate resistance can be seen at 147.24(38.2%fib)an upside break can trigger rise towards 148.00(Psychological level) .On the downside, immediate support is seen at 145.65(50%fib)a break below could take the pair towards 144.11(61.8%fib).
Equities Recap
European shares settled lower as market participants parsed mixed corporate earnings and awaited developments in the U.S.-EU trade negotiations.
UK's benchmark FTSE 100 closed down by 0.20 percent, Germany's Dax ended down by 0.32 percent, France’s CAC finished the day up by 0.21 percent.
Wall Street climbed and the dollar strengthened Friday as investors braced for a key week of Fed talks, earnings, and Trump’s trade deadline..
Dow Jones closed down by 0.63% percent, S&P 500 closed down by 0.33% percent, Nasdaq settled down by 0.22% percent.
Commodities Recap
Oil prices softened as investors mulled downbeat economic news and signs of growing supply, despite optimism that U.S. trade deals could boost global economic growth.
U.S. crude fell 1.32% to $65.16 per barrel, while Brent fell to $68.44 per barrel, down 1.07% on the day.
Gold dipped on Friday as a stronger U.S. dollar and improving U.S.-EU trade talks reduced safe-haven appeal.
Spot gold fell 0.9% to $3,337.66 an ounce. U.S. gold futures fell 1.24% to $3,329.10 an ounce.