Posted at 31 July 2025 / Categories Market Roundups
Market Roundup
• Australia Building Approvals (YoY) (Jun) 5.40%, 8.00% forecast, 8.10% previous
• Australia Building Approvals (MoM) (Jun): 11.9%, 1.8% forecast, 2.2% previous
• Australia Export Price Index (QoQ) (Q2): -4.5%, 2.1% previous
• Australia Housing Credit (Jun): 0.5%, 0.5% previous
• Australia Import Price Index (QoQ) (Q2): -0.8%, -0.5% forecast, 3.3% previous
• Australia Private House Approvals (Jun): -2.0%, -1.0% previous
• Australia Private Sector Credit (MoM) (Jun): 0.6%, 0.5% forecast, 0.5% previous
• Australia Retail Sales (MoM) (Jun): 1.2%, 0.4% forecast, 0.1% previous
• Australia Retail Sales (QoQ) (Q2): 0.3%, 0.1% previous
• Chinese Composite PMI (Jul): 50.2, 50.7 previous
• Chinese Manufacturing PMI (Jul): 49.3, 49.7 forecast, 49.7 previous
• Chinese Non-Manufacturing PMI (Jul): 50.1, 50.3 forecast, 50.5 previous
•Japan BoJ Interest Rate Decision: 0.50%, 0.50% forecast, 0.50% previous
•New Zealand M3 Money Supply (Jun): 433.5B, 432.6B previous
•Japan Construction Orders (YoY) (Jun): 22.5%, 14.0% previous
•Japan Household Confidence (Jul): 33.7, 35.1 forecast, 34.5 previous
•Japan Housing Starts (YoY) (Jun): -15.6%, -16.3% forecast, -34.4% previous
Looking Ahead Economic Data(GMT)
· 07:55 Germany Unemployment Change (Jul): 15Kforecast, 11K previous
· 07:55 Germany Unemployment Rate (Jul): 6.4%forecast, 6.3% previous
· 07:55 Germany Unemployment Total (Jul): 2.972M previous
· 07:55 Germany Unemployment n.s.a. (Jul): 2.914M previous
·08:00 Italy Monthly Unemployment Rate (Jun): 6.4%forecast, 6.5% previous
·08:00 Eurozone CPI (YoY) (Jul): 2.3%
·08:00 Eurozone CPI (MoM) (Jul): 0.2%
·08:00 Eurozone Core CPI (YoY) (Jul): 1.8%
·08:00 Eurozone Core CPI (MoM) (Jul): -0.1%
·08:00 Eurozone Final CPI (MoM) (Jul): 0.2%
·08:00 Eurozone Final CPI (YoY) (Jul): 2.2%
·09:00 Italy CPI (YoY) (Jul): 1.5%forecast, 1.7% previous
·09:00 Italy CPI (MoM) (Jul): 0.1%forecast, 0.2% previous
·09:00 Italy HICP (YoY) (Jul): 1.6%forecast, 1.8% previous
·09:00 Italy HICP (MoM) (Jul): -1.0%forecast, 0.2% previous
·09:00 Greece Retail Sales (YoY) (May): 7.5%
·09:00 Greece Unemployment Rate (Jun): 7.9%
·09:00 Eurozone Unemployment Rate (Jun): 6.3%forecast, 6.3% previous
·12:00 Germany CPI (MoM) (Jul): 0.2%forecast, 0.0% previous
·12:00 Germany CPI (YoY) (Jul): 1.9%forecast, 2.0% previous
·12:00 Germany HICP (YoY) (Jul): 1.8%forecast, 2.0% previous
·12:00 Germany HICP (MoM) (Jul): 0.4% forecast, 0.1% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro posted modest gains against dollar on Thursday as investor caution persisted ahead of the looming August 1 U.S. tariff deadline set by President Donald Trump. Trade tensions remained in focus after Trump announced a 15% tariff on imports from South Korea, despite the two nations reaching a last-minute trade agreement. Additionally, Trump imposed a steep 50% tariff on most Brazilian goods, signaling a hardline approach. He also noted that trade negotiations with India were still ongoing, adding to global uncertainty. In the Eurozone, attention turns to key economic releases, including Germany’s preliminary inflation figures for July and the region’s unemployment rate for June both of which may influence the euro’s near-term direction. Immediate resistance can be seen at 1.1609(38.2%fib ), an upside break can trigger rise towards 1.1652(SMA 20).On the downside, immediate support is seen at 1.1411(50%fib), a break below could take the pair towards 1.1353(Lower BB).
GBP/USD: Sterling edged higher on Thursday as the U.S. dollar retreated amid U.S. tariff uncertainty ahead of the August 1 deadline. Trade negotiations intensified as the August 1 deadline approached. Trump said on Wednesday South Korea secured a deal with reduced 15% tariffs, down from a threatened 25%. The agreement came amid a flurry of last-minute negotiations.Vietnam, Indonesia, the Philippines, Japan, Cambodia and Thailand have already clinched agreements, creating urgency for remaining economies Markets are now closely watching the U.S. Core PCE Price Index, the Federal Reserve’s preferred inflation gauge, due later this week. This release could influence expectations around future Fed rate moves. Sterling was last trading up at $1.3355. Immediate resistance can be seen at 1.3387(50%fib), an upside break can trigger rise towards 1.3472(SMA 20).On the downside, immediate support is seen at 1.3218(61.8%fib), a break below could take the pair towards 1.3138(Lower BB).
AUD/USD: The Australian firmed against greenback on Thursday as upbeat Australian retail sales data boosted Australian dollar. Australian retail sales climbed 1.2% in June, accelerating from May’s 0.5% gain, sparking optimism about a potential recovery in consumer spending, ABS data showed. The increase beat expectations of a 0.4% rise, extending gains for a second month and recording the biggest monthly jump since March 2022.Despite upbeat spending data, interest rate expectations remain unchanged. Markets see a high likelihood of a 25bps RBA cut next month, with rates expected to reach a trough near 3.1% in early 2026. Meanwhile, Andrew Hauser, Deputy Governor of the RBA, welcomed the latest inflation figures on Thursday, adding that the labour market continues to operate near full employment. Immediate resistance can be seen at 0.642(Daily high), an upside break can trigger rise towards 0.6533(38.2%fib).On the downside, immediate support is seen at 0.6413(50%fib), a break below could take the pair towards 0.6372(June 23rd low).
USD/JPY: The U.S. dollar slipped lower versus the yen on Thursday as Japanese yen firmed following the Bank of Japan's upward revision to its inflation forecasts and cautiously optimistic view on the economic outlook.The BOJ ended its two-day policy meeting by unanimously keeping short-term interest rates at 0.5%, while raising this fiscal year’s core consumer inflation forecast to 2.7% from 2.2% previously. The central bank reaffirmed its commitment to raise borrowing costs if economic and price trends align with forecasts, noting that rising wages and prices are expected to drive underlying inflation closer to its 2% target.The BOJ's decision came after the U.S. Federal Reserve held rates steady on Wednesday, with Chair Jerome Powell's remarks dampening market expectations of a rate cut in September. Immediate resistance can be seen at 149.32(38.2%fib)an upside break can trigger rise towards 150.09(Higher BB) .On the downside, immediate support is seen at 148.60(Daily low)a break below could take the pair towards 147.63(SMA 20).
Equities Recap
Asian equities dipped on Thursday ,pressured by disappointing Chinese economic data and a sharp drop in copper prices..
South Korea KOSPI was down 0.28% , Hang Seng was down 1.51 %, China’s A50 was down 1.63%%
Commodities Recap
Gold prices rebounded on Thursday from a one-month low, supported by trade uncertainty following fresh U.S. tariff announcements, which boosted the metal’s safe-haven appeal despite fading expectations of a U.S. rate cut in September.
Spot gold was up 0.8% at $3,301.49 per ounce, as of 0612 GMT. Bullion hit its lowest level since June 30 at $3,267.79 on Wednesday.U.S. gold futures were steady at $3,295.80.
Oil prices eased on Thursday as investors assessed potential supply risks amid President Trump’s tariff-driven push to end the war in Ukraine, while a surprise build in U.S. crude inventories added downward pressure.
Brent crude futures for September , set to expire on Thursday, fell 18 cents, or 0.3%, to $73.06 a barrel at 0650 GMT. The more active Brent October contract was down 26 cents, or 0.4%, at $72.21.U.S. West Texas Intermediate crude for September dropped 17 cents, or 0.2%, to $69.83 a barrel.