Posted at 28 July 2025 / Categories Market Roundups
Market Roundup
• Canada Wholesale Sales (MoM) (Jun) 0.7%, 0.1% previous
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Looking Ahead Economic Data (GMT)
•03:35 Japan 2-Year JGB Auction 0.729% previous
Looking Ahead Events And Other Releases (GMT)
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Currency Summaries
EUR/USD: The euro slipped lower sharply on Monday as the dollar firmed following a trade agreement between the U.S. and EU that eased market uncertainty. U.S. President Trump and EU chief Ursula von der Leyen struck a deal Sunday imposing a 15% tariff on EU goods—half the previously threatened rate. The agreement, which helped avert a global trade war, followed similar pacts with Japan. Meanwhile, U.S. and Chinese officials resumed talks in Stockholm, seeking a 90-day extension to their trade truce. The euro was last down 1.25% at $1.1594 , set for its biggest daily loss since mid-May, reversing an initial knee-jerk rise in Asia trade as investors' focus shifted to what an easing in global trade tensions meant for the dollar overall. Immediate resistance can be seen at 1.1708(23.6%fib ), an upside break can trigger rise towards 1.1768(Higher BB).On the downside, immediate support is seen at 1.1582(38.2%fib), a break below could take the pair towards 1.1533(Lower BB).
GBP/USD: Sterling slipped on Monday as the U.S. dollar gained strength following a framework trade deal between the U.S. and EU.The agreement, finalized Sunday in Scotland by President Donald Trump and EU Commission President Ursula von der Leyen, imposes a 15% import tariff on EU goods—half the originally proposed rate set to begin August 1.Looking ahead, investors are bracing for a data-heavy week featuring central bank meetings from the Federal Reserve and the Bank of Japan. Both are expected to hold rates steady, but market focus will be on forward guidance and policymakers' tone regarding future moves.. 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 edged lower to a 10-day low on Monday, though it remained relatively stable compared to other major currencies ahead of the Bank of Canada's rate announcement. Analysts expect the BoC to leave its benchmark rate unchanged at 2.75% for the third straight time, supported by strong employment figures and persistent core inflation despite global trade uncertainty. Meanwhile, Prime Minister Mark Carney noted that Canada-U.S. trade talks are intensifying, though a fully tariff-free deal appears unlikely. Canada sends about 75% of its exports to the U.S., including oil which settled 2.4% higher at $66.71 a barrel. The loonie was trading 0.2% lower at 1.3730 per U.S. dollar after touching its weakest intraday level since July 18 at 1.3742. Immediate resistance can be seen at 1.3755(50% fib), an upside break can trigger rise towards 1.3808(Higher BB).On the downside, immediate support is seen at 1.3675(SMA 20), a break below could take the pair towards 1.3543(Lower BB).
USD/JPY: The U.S. dollar strengthened against the yen on Monday as investors assessed the pace of future interest rate hikes by the Bank of Japan. A reduction in global trade tensions—following Sunday’s trade agreement between the U.S. and the European Union—offered relief to BOJ policymakers and improved prospects for Japan’s export-driven economy.Markets broadly expect the BOJ to leave short-term rates steady at 0.5% when its two-day policy meeting concludes on Thursday. Investor focus now turns to the central bank’s quarterly outlook report and Governor Kazuo Ueda’s press conference for any signals on the timing of the next potential rate increase. The US dollar was last up at 148.52 against the Japanese yen. Immediate resistance can be seen at 149.27(23.6%fib)an upside break can trigger rise towards 149.80(Higher BB) .On the downside, immediate support is seen at 147.85(Daily low)a break below could take the pair towards 146.73(38.2%fib).
Equities Recap
European stocks retreated slightly on Monday, ending just below four-month highs as investors assessed the impact of the new U.S.-EU trade framework.
UK's benchmark FTSE 100 closed down by 0.43 percent, Germany's Dax ended down by 1.02 percent, France’s CAC finished the day down by 0.43 percent.
Wall Street ended mixed on Monday, with the S&P 500 and Nasdaq both closing at record levels, as traders assessed the U.S.-EU trade pact and awaited several market-moving developments.
Dow Jones closed down by 0.14% percent, S&P 500 closed up by 0.02% percent, Nasdaq settled up by 0.33% percent.
Commodities Recap
Gold slipped to a near three-week low on Monday, pressured by a stronger dollar and improved risk sentiment after the U.S.-EU trade deal, with markets now eyeing the Fed’s policy decision.
Spot gold fell 0.8% to $3,310.45 per ounce as of 01:49 p.m. ET (1749 GMT), after touching its lowest level since July 9, at $3301.29, earlier in the session.U.S. gold futures settled 0.7% lower at $3,311.2 per ounce.
Oil gained 2% Monday after a U.S.-EU trade deal and Trump’s threat to sanction Russia if it doesn't end the Ukraine war soon.
Brent crude futures were up $1.60, or 2.3%, at $70.04 a barrel. U.S. West Texas Intermediate crude rose $1.55, or 2.4%, to $66.71.