Posted at 02 August 2025 / Categories Market Roundups
Market Roundup
• US Average Hourly Earnings (MoM) (Jul): 0.3%, 0.3% forecast, 0.2% previous
• US Average Weekly Hours (Jul): 34.3, 34.2 forecast, 34.2 previous
• US Government Payrolls (Jul): -10K, 11K previous
• US Manufacturing Payrolls (Jul): -11K, -3K forecast, -15K previous
• US Nonfarm Payrolls (Jul): 73K, 106K forecast, 14K previous
• US Participation Rate (Jul): 62.2%, 62.3% previous
• US Private Nonfarm Payrolls (Jul): 83K, 100K forecast, 3K previous
• US U6 Unemployment Rate (Jul): 7.9%, 7.7% previous
• US Unemployment Rate (Jul): 4.2%, 4.2% forecast, 4.1% previous
•Canada S&P Global Manufacturing PMI (Jul): 46.1, 45.6 previous
• US S&P Global Manufacturing PMI (Jul): 49.8, 49.5 forecast, 52.9 previous
• US Construction Spending (MoM) (Jun): -0.4%, 0.0% forecast, -0.4% previous
• US ISM Manufacturing Employment (Jul): 43.4, 46.8 forecast, 45.0 previous
• US ISM Manufacturing New Orders Index (Jul): 47.1, 48.7 forecast, 46.4 previous
• US ISM Manufacturing PMI (Jul): 48.0, 49.5 forecast, 49.0 previous
• US ISM Manufacturing Prices (Jul): 64.8, 69.9 forecast, 69.7 previous
• US Michigan 1-Year Inflation Expectations (Jul): 4.5%, 4.4% forecast, 5.0% previous
• US Michigan 5-Year Inflation Expectations (Jul): 3.4%, 3.6% forecast, 4.0% previous
• US Michigan Consumer Expectations (Jul): 57.7, 58.6 forecast, 58.1 previous
• US Michigan Consumer Sentiment (Jul): 61.7, 61.8 forecast, 60.7 previous
• US Michigan Current Conditions (Jul): 68.0, 66.8 forecast, 64.8 previous
• US Atlanta Fed GDPNow (Q3): 2.1%, 2.3% forecast, 2.3% 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 advanced on Friday after weaker-than-expected U.S. employment data increased the likelihood of Federal Reserve rate cuts. The U.S. economy added just 73,000 jobs in July, well short of the 110,000 forecast. Meanwhile, the unemployment rate rose to 4.2%, matching expectations but up from 4.1% in June. Adding to the soft tone, June’s job gains were revised drastically lower to 14,000 from the initially reported 147,000. Traders now anticipate two Fed rate cuts by year-end, with the first potentially coming in September. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was last down 1.23% on the day at 98.80.The euro rose 1.37% to $1.1571 .Immediate resistance can be seen at 1.1590(38.2%fib ), an upside break can trigger rise towards 1.1855(23.6%fib).On the downside, immediate support is seen at 1.1397(50%fib), a break below could take the pair towards 1.1340(Lower BB).
GBP/USD: Sterling rebounded on Friday as the dollar weakened following a disappointing U.S. jobs report that raised concerns over economic momentum and reinforced expectations for a Fed rate cut in September. U.S. Nonfarm Payrolls (Jul) rose by just 73K, well below the 110K forecast, while June figures were revised sharply lower to 14K. The unemployment rate edged up to 4.2% from 4.1%. The data came just days after the Fed held rates steady, offering no clear signal on the timing of policy easing. Markets now see increased odds of a rate cut as early as next month. Immediate resistance can be seen at 1.3317(50%fib), an upside break can trigger rise towards 1.3457(SMA 20).On the downside, immediate support is seen at 1.3113(50%fib), a break below could take the pair towards 1.3000(Psychological level).
USD/CAD: The Canadian dollar recovered from a two-month low against the greenback on Friday as weaker U.S. labor data boosted expectations for a September Fed rate cut, countering renewed trade tensions between the two nations. U.S. Nonfarm Payrolls (Jul) rose by just 73K, well below expectations, while prior months saw a combined downward revision of 258K, signaling a weakening labor market. Meanwhile, Canada’s manufacturing sector shrank for the sixth consecutive month in July, with firms cutting inventory and jobs amid tariff-related trade disruptions.The price of oil, one of Canada's major exports, fell 2.8% to $67.35 a barrel on jitters about a possible increase in production by OPEC and its allies. Immediate resistance can be seen at 1.3877(Higher BB), an upside break can trigger rise towards 1.3962 (23.6%fib).On the downside, immediate support is seen at 1.3778(38.2%fib), a break below could take the pair towards 1.3711(SMA 20).
USD/JPY: The U.S. dollar weakened sharply against the yen on Friday after a weaker-than-expected July jobs report intensified selling pressure on the greenback. Nonfarm Payrolls rose by just 73K, well below the 110K forecast, while June’s figure was slashed to 14K from 147K. The disappointing data reignited expectations of a Fed rate cut in September, despite the central bank holding rates steady earlier this week and signaling no clear direction. Meanwhile, global market sentiment took a hit as President Trump announced a fresh round of tariffs on exports from Canada, Brazil, India, and Taiwan, heightening trade tensions. The dollar weakened 2.23% to 147.37 against the Japanese yen . The greenback earlier reached 150.91, the highest since March 28. Immediate resistance can be seen at 148.90(38.2%fib )an upside break can trigger rise towards 150.81(23.6%fib) .On the downside, immediate support is seen at 147.19(50%fib)a break below could take the pair towards 145.62(61.8%fib).
Equities Recap
European stocks tumbled on Friday, marking their largest single-day decline in more than three months, as investors reacted to the fallout from new U.S. tariffs.
UK's benchmark FTSE 100 closed down by 0.70percent, Germany's Dax ended down by 2.66 percent, France’s CAC finished the day down by 2.90 percent.
U.S. stocks slumped Friday, with the S&P 500 marking its steepest daily loss in over two months as weak jobs data and fresh tariffs fueled heavy selling.
Dow Jones closed down by 1.23% percent, S&P 500 closed down by 1.60% percent, Nasdaq settled down by 2.24% percent.
Commodities Recap
Gold surged nearly 2% to a one-week high on Friday, driven by soft U.S. jobs data and renewed tariffs that lifted safe-haven demand and rate cut hopes.
Spot gold reached its highest level since July 25, adding 1.8% to $3,347.66 per ounce as of 0148 p.m. ET (17:48 GMT), after rising as much as 2% earlier today. U.S. gold futures settled 1.5% higher at $3,399.8.
Oil prices fell $2 a barrel on Friday amid concerns over a potential OPEC+ production increase and weak U.S. jobs data that raised demand fears..
Brent crude futures settled at $69.67 a barrel, down $2.03, or 2.83%. U.S. West Texas Intermediate crude finished at $67.33 a barrel, down $1.93, or 2.79%.