Posted at 01 August 2025 / Categories Market Roundups
Market Roundup
• Japan au Jibun Bank Manufacturing PMI (Jul) 48.9, 48.8 forecast, 50.1 previous
•Australia PPI (QoQ) (Q2) 0.7%, 0.9% forecast, 0.9% previous
•Australia PPI (YoY) (Q2) 3.4%, 3.7% previous
• Caixin Manufacturing PMI (MoM) (Jul) 49.5, 50.2 forecast, 50.4 previous
•UK Nationwide HPI (YoY) (Jul) 2.4%, 2.1% forecast, 2.1% previous
•UK Nationwide HPI (MoM) (Jul) 0.6%, 0.5% forecast, -0.9% previous
•HCOB Spain Manufacturing PMI (Jul) 51.9, 51.7 forecast, 51.4 previous
Looking Ahead Economic Data(GMT)
• 08:00 Italian Retail Sales (YoY) (Jun) 1.3% previous
•08:00 Italian Italian Retail Sales (MoM) (Jun) 0.3% forecast,-0.4% previous
•08:00 S&P Global Greece Manufacturing PMI (Jul) 53.1 previous
•08:00 HCOB Eurozone Manufacturing PMI (Jul) 49.8 forecast,-49.5 previous
•08:30 UK S&P Global Manufacturing PMI (Jul) 48.2 forecast,47.7 previous
•09:00 EU Core CPI (MoM) (Jul ) 0.4% previous
•09:00 EU Core CPI (YoY) (Jul) 2.3% forecast,2.3% previous
•09:00 EU CPI (YoY) (Jul) 1.9% forecast,2.0% previous
•09:00 EU CPI (MoM) (Jul) 0.3% previous
•09:00 EU CPI, n.s.a (Jul) 129.10 previous
•09:00 EU HICP ex Energy & Food (YoY) (Jul) 2.4% previous
•09:00 EU HICP ex Energy and Food (MoM) (Jul) 0.3% previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro traded within a narrow range on Friday, as investors continued to evaluate the implications of the newly announced trade agreement between the European Union and the United States. The framework deal, finalized on Sunday, was intended to ease trade tensions and promote cooperation across several key sectors.However, the agreement drew sharp criticism from within Europe, with French officials and the German head of the European Parliament's trade committee voicing strong concerns. Critics argue that the deal disproportionately benefits the U.S., placing European industries particularly agriculture and pharmaceuticals—at a disadvantage. U.S. employment will come under focus later today with the release of the closely watched non-farm payrolls report. Economists expect job growth to slow to 110,000 in July, down from 147,000 in June — a notable deceleration, though not seen as alarming. 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 1.141 (50%fib), a break below could take the pair towards 1.1353(Lower BB).
GBP/USD: Sterling edged lower on Friday after the U.S. imposed new tariffs on dozens of trading partners. Late Thursday, U.S. President Donald Trump signed executive orders imposing tariffs ranging from 10% to 41% on U.S. imports from dozens of countries, utilizing emergency powers and pressuring foreign leaders ahead of his self-imposed Friday deadline. India faces 25% levies on its U.S.-bound exports, Taiwan 20%, Thailand and Malaysia 19%, while South Korea secured reduced 15% rates after intensive negotiations. Vietnam, Indonesia, the Philippines, Japan, and Cambodia have already secured agreements. Sterling was last trading down 0.11% at $1.3192 against dollar. Immediate resistance can be seen at 1.3278(July31st high), an upside break can trigger rise towards 1.3362(50%fib).On the downside, immediate support is seen at 1.3178(61.8%fib), a break below could take the pair towards 1.3134(Lower BB).
AUD/USD: The Australian dipped against greenback on Friday after the U.S. unveiled its latest round of so-called reciprocal tariffs, sparking fresh concerns over global trade tensions. Australia’s baseline tariff of 10% is currently the lowest among U.S. trade partners, whereas other countries face duties as high as 41%. This discrepancy has helped shield the Australian economy to some extent, even as broader market risks remain.On the data front, Australia’s Q2 Producer Price Index (PPI) rose 0.7% quarter-on-quarter and 3.4% year-on-year, slightly below previous readings (+0.9% q/q and +3.7% y/y), suggesting a modest cooling in upstream price pressures. Looking ahead, U.S. non-farm payrolls data due Friday will be crucial for market direction, with economists expecting an increase of 110K jobs
. Immediate resistance can be seen at 0.6480(July 31st high), an upside break can trigger rise towards 0.6523(SMA 20).On the downside, immediate support is seen at 0.6413(61.8%fib), a break below could take the pair towards 0.6397(Lower BB).
USD/JPY: The U.S. dollar eased slightly on Friday as traders positioning ahead of the closely watched U.S. jobs report.Nonfarm payrolls likely increased by 110,000 jobs last month after rising by 147,000 in June, a survey of economists showed. That reading would be below the three-month average gain of 150,000. Estimates ranged from no jobs added to an increase of 176,000 positions. Financial markets have pushed back an anticipated September rate cut to October. With tariffs starting to raise inflation, some economists believe the window for the Fed resuming policy easing this year is closing.Meanwhile, The Bank of Japan on Thursday left its short-term policy rate unchanged at 0.5% in a unanimous vote, signaling no immediate shift in its monetary stance. Immediate resistance can be seen at 151.32(Higher BB)an upside break can trigger rise towards 152.20(23.6%fib) .On the downside, immediate support is seen at 149.90(38.2%fib)a break below could take the pair towards 149.00(Psychological level).
Equities Recap
Asian equities were on track for their worst weekly performance since April on Friday, as investor sentiment soured following the U.S. decision to impose steep tariffs on dozens of its trading partners.
South Korea KOSPI was down 3.88% , Hang Seng was down 1.03 %, China’s A50 was down 0.59%%
Commodities Recap
Gold prices held steady on Friday, but remained on track for a third straight weekly decline, pressured by a stronger U.S. dollar and fading hopes for near-term Fed rate cuts.
Spot gold was steady at $3,288.89 per ounce, as of 0733 GMT. Bullion is down 1.4% so far this week.U.S. gold futures edged down 0.3% to $3,339.90.
Oil prices were little changed on Friday after falling more than 1% in the previous session as traders digested the impact of higher U.S. tariffs that may curtail economic activity and lower global fuel demand growth.
Brent crude futures were down 7 cents, or 0.1%, to $71.63 a barrel at 0656 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.14%, to $69.16 a barrel.