Posted at 05 August 2025 / Categories Market Roundups
Market Roundup
• Japan au Jibun Bank Services PMI (Jul) 53.6, 53.5forecast, 51.7 previous
•Australia Judo Bank Services PMI (Jul) 54.1, 53.8 forecast,53.8 previous
•Australia ANZ Job Advertisements (MoM) (Jul) -1.0%, 1.6% previous
•China Caixin Services PMI (Jul) 52.6, 50.4 forecast,50.6 previous
Looking Ahead Economic Data(GMT)
•08:00 HCOB Italy Composite PMI (Jul) 51.1 previous
•08:00 HCOB Italy Services PMI (Jul) 52.5 forecast,52.1 previous
•08:00 HCOB France Composite PMI (Jul) 49.6 forecast,49.2 previous
•08:00 HCOB France Services PMI (Jul) 49.7 forecast,49.6 previous
•08:00 HCOB Germany Composite PMI (Jul) 50.3 forecast,50.4 previous
•08:00 HCOB Germany Services PMI (Jul) 50.1 forecast, 49.7 previous
•08:00 UK Car Registration (YoY) 6.7% previous
•08:30 EU HCOB Eurozone Composite PMI (Jul) 51.0 forecast, 52.0 previous
•08:30 EU HCOB Eurozone Services PMI (Jul) 51.2 forecast, 50.5 previous
•08:30 UK S&P Global Composite PMI (Jul) 51.0 forecast, 52.0 previous
•08:30 UK S&P Global Services PMI (Jul) 51.2 forecast, 52.8 previous
•09:00 EU PPI (MoM) (Jun) 0.9%forecast,-0.6% previous
•09:00 EU PPI (YoY) (Jun) 0.5% forecast 0.3% previous
Looking Ahead Events and Other Releases(GMT
• No events Ahead
Currency Summaries
EUR/USD : The euro edged lower on Tuesday as the U.S. dollar regained some losses following Friday's U.S. jobs report that showed cracks in the labour market, prompting traders to swiftly price in rate cuts next month.Traders are now pricing in a 92.1% chance of the Fed cutting rates in its next meeting in September, compared with 63% a week earlier, the CME FedWatch tool showed. U.S. President Donald Trump's firing of a top statistics official and the resignation of Federal Reserve Governor Adriana Kugler also exacerbated market unease. Meanwhile, focus remains on tariff uncertainties after the latest duties imposed on imports from scores of countries last week by Trump, stoked worries about the health of the global economy.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 1.1480 (50%fib), a break below could take the pair towards 1.1353(Lower BB).
GBP/USD: Sterling held steady on Tuesday as investors awaited of the Bank of England’s monetary policy announcement on Thursday. The central bank’s Monetary Policy Committee (MPC) is widely expected to deliver a 25 basis point rate cut, bringing the benchmark interest rate down to 4.00%. If confirmed, this would mark the fifth consecutive cut since August 2024, as policymakers respond to mounting economic headwinds. The UK economy continues to grapple with the effects of tax hikes and subdued consumer spending, prompting a gradual pivot toward monetary easing. Although headline inflation eased to 3.6% in June, it remains above the BoE’s 2% target, and stubbornly high services inflation remains a concern for policymakers. At the same time, the labour market shows increasing signs of strain, with rising unemployment, slower wage growth, and a drop in hiring activityall reinforcing the case for continued policy loosening. 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 dollar edged lower against greenback on Tuesday after soft domestic jobs data fueled speculation of an imminent rate cut by the Reserve Bank of Australia (RBA). The ANZ-Indeed Australian Job Ads index recorded its steepest monthly decline since February — the fourth drop this year signaling a gradual cooling in the labor market. The RBA is widely expected to lower the cash rate to 3.60% at its upcoming policy meeting concluding on August 12. Market pricing now reflects a 95% probability of a rate cut this month, with two additional cuts anticipated by the first quarter of next year. 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 traded in tight range against yen on Tuesday as market digested minutes from the Bank of Japan’s June meeting. According to minutes published on Tuesday, several members at the June meeting argued for holding interest rates steady, warning that escalating U.S. tariffs posed a threat to economic stability and growth. Some board members also emphasized the need to examine the appropriate long-term size of the BOJ's balance sheet while deciding next year's bond taper plan, the minutes showed. The minutes also revealed that policymakers noted inflation had exceeded expectations, with some members cautioning that the recent surge in food prices could shape public perceptions and fuel concerns about future inflation trends.The BOJ opted to keep rates unchanged at 0.5% during its June 16–17 policy meeting and decided to scale back the pace of quantitative tightening from next year. Immediate resistance can be seen at 147.81(SMA 20)an upside break can trigger rise towards 148.54(38.2%fib) .On the downside, immediate support is seen at 146.76(50%fib)a break below could take the pair towards 145.08(July 24th high)).
Equities Recap
Asian shares extended gains for a second session on Tuesday as investors ramped up bets that the Federal Reserve will step in to support the U.S. economy amid signs of slowing momentum.
South Korea’s KOSPI was up 1.60% , Hang Seng was up 0.54%, Japan's Nikkei 225 was up 0.74%%
Commodities Recap
Gold hovered near its recent two-week high on Tuesday, as subdued U.S. jobs figures boosted speculation of a Federal Reserve rate cut in September, weakening the dollar and U.S. bond yields.
Spot gold was trading at $3,369.25 per ounce, as of 0629 GMT. Bullion hit its highest since July 24 on Monday. U.S. gold futures was unchanged at $3,423.20.
Oil traded flat on Tuesday as investors evaluated higher supply from OPEC+ alongside softer demand signals and escalating tensions, following U.S. President Donald Trump’s new criticism of India’s energy ties with Russia.
Brent crude futures dipped 1 cent to $68.75 a barrel by 0631 GMT, while U.S. West Texas Intermediate crude was down 2 cents at $66.28.