Posted at 29 July 2025 / Categories Market Roundups
Market Roundup
• Japan 2-Year JGB Auction 0.841%, 0.729%previous
Looking Ahead Economic Data(GMT)
•08:30 UK BoE Consumer Credit (Jun) 1.200B forecast, 0.859B previous
•08:30 UK M3 Money Supply (Jun) 3,133.6B previous
•08:30 UK M4 Money Supply (MoM) (Jun) 0.3% forecast,0.2% previous
•08:30 UK Mortgage Approvals (Jun) 63.00K forecast,63.03K previous
•08:30 UK Mortgage Lending (Jun) 2.05B previous
•08:30 UK Net Lending to Individuals (Jun) 3.700B forecast,2.900B previous
•09:00 Belgian GDP (QoQ) (Q2) 0.4% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro slipped against the dollar on Tuesday as markets digested the reality that the U.S.-EU trade deal favored Washington and offered little support for the bloc’s economic outlook. France called the deal a 'dark day' for Europe, criticizing it as unbalanced and overly accommodating to President Trump’s demands. German Chancellor Friedrich Merz warned of 'significant' damage to Germany’s economy from the agreed 15% tariffs.The euro slid 1.3% in the previous session, its sharpest one-day percentage fall in over two months, on worries about growth and as euro-area government bond yields fell.The common currency failed to recoup its losses and last traded 0.46% lower at $1.1536. Immediate resistance can be seen at 1.1808(23.6%fib ), an upside break can trigger rise towards 1.1865(Higher BB).On the downside, immediate support is seen at 1.1616(38.2%fib), a break below could take the pair towards 1.1556(Lower BB).
GBP/USD: Sterling slipped lower against dollar on Tuesday as markets digested the U.S.-EU trade deal’s limited benefits and the longer-term risks from sustained tariffs. The initial relief over Europe's 15% levy quickly soured when set against the 1% to 2% that stood before President Donald Trump took office. Leaders in France and Germany lamented the outcome as a drag on growth, pulling down stocks and currencies across the euro area continent. Meanwhile,top U.S. and Chinese officials held over five hours of trade talks in Stockholm on Monday, aiming to extend their truce by three months. Investors are also eyeing rate decisions from the Fed and BOJ this week, with both expected to hold steady while markets focus on policy guidance. Immediate resistance can be seen at 1.3456(July 29th high), an upside break can trigger rise towards 1.3487(38.2%fib).On the downside, immediate support is seen at 1.3310(50%fib), a break below could take the pair towards 1.3253(Lower BB).
AUD/USD: The Australian dollar slipped on Tuesday as renewed greenback strength weighed on Australian dollar. Trump's trade deal with Europe initially lifted market sentiment, but investors quickly realised the terms largely favoured the United States. This reinforced dollar strength, adding pressure on risk-sensitive currencies like the Australian dollar. Market participants now turn their attention to Australia’s Q2 Consumer Price Index (CPI) due this week a critical inflation reading that may influence the Reserve Bank of Australia's policy outlook. Additionally, Wednesday’s U.S. Federal Open Market Committee (FOMC) meeting outcome will be closely watched for clues on the Fed’s rate path. Ahead of that, Tuesday’s release of U.S. consumer confidence and JOLTS job openings data, followed by the first estimate of Q2 GDP on Wednesday, could provide further momentum to the US dollar. Immediate resistance can be seen at 0.6617(23.6%fib), an upside break can trigger rise towards 0.6635(Higher BB).On the downside, immediate support is seen at 0.6502(38.2%fib), a break below could take the pair towards 0.6467(Lower BB).
USD/JPY: The U.S. dollar held steady against the yen on Tuesday as investors awaited key developments in American trade policy ahead of the August 1 deadline set by President Trump. A framework trade agreement between the U.S. and European Union, which includes a 15% tariff on EU goods, helped defuse tensions and avoid a broader trade confrontation. While the deal initially lifted market sentiment, its perceived imbalance in favor of the U.S. ultimately reinforced dollar strength and weighed on regional currencies. Meanwhile, top U.S. and Chinese officials held over five hours of talks in Stockholm on Monday, seeking to reduce trade friction and extend their current truce by another three months. Attention now turns to a series of central bank meetings this week, with the Federal Reserve, Bank of Japan, and Monetary Authority of Singapore all set to deliver policy decisions. 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 147.56(July 29th low)a break below could take the pair towards 146.73(38.2%fib).
Equities Recap
Asian shares slipped on Tuesday as investors weighed the downside of the U.S.-EU trade deal, recognizing that punitive tariffs are likely to persist posing risks to both growth and inflation.
Japan’s Nikkie was down 0.77% , Hang Seng was down 0.44 %, China’s A50 was down 0.01%%
Commodities Recap
Gold held near a three-week low on Tuesday, pressured by easing trade fears and a stronger dollar.
Spot gold held firm at $3,318.71 per ounce as of 0601 GMT, stabilizing after hitting its lowest level since July 9 in the prior session.
Oil prices held steady on Tuesday as markets weighed the U.S.-EU trade deal and awaited the Fed’s rate decision.
Brent crude futures were up 1 cent at $70.05 a barrel at 0610 GMT, while U.S. West Texas Intermediate crude was at $66.69, down 2 cents.