Posted at 05 August 2025 / Categories Market Roundups
Market Roundup
• French Industrial Production (MoM) (Jun) 3.8%, 0.8%forecast, -0.7% previous
• French Industrial Production (MoM) (Jun): 3.8%, 0.8% forecast, -0.7% previous
• Spanish Industrial Production (YoY) (Jun): 2.3%, 1.7% previous
• HCOB Spain Services PMI (Jul): 55.1, 52.6 forecast, 51.9 previous
• HCOB Italy Composite PMI (Jul): 51.5, 51.1 previous
• HCOB Italy Services PMI (Jul): 52.3, 52.5 forecast, 52.1 previous
• HCOB France Composite PMI (Jul): 48.6, 49.6 forecast, 49.2 previous
• HCOB France Services PMI (Jul): 48.5, 49.7 forecast, 49.6 previous
• HCOB Germany Composite PMI (Jul): 50.6, 50.3 forecast, 50.4 previous
• HCOB Germany Services PMI (Jul): 50.6, 50.1 forecast, 49.7 previous
• EU PPI (YoY) (Jun) 0.6%,0.5% forecast, 0.3% previous
• EU PPI (MoM) (Jun) 0.8%,0.9% forecast, -0.6% previous
• EU Spanish 12-Month Letras Auction 1.945% ,1.900% previous
• EU Spanish 6-Month Letras Auction 1.932% ,1.872% previous
Looking Ahead Economic Data(GMT)
• 12:55 US Redbook (YoY) 4.9% previous
• 13:45 US S&P Global Composite PMI (Jul): 54.6 forecast, 52.9 previous
• 13:45 US S&P Global Services PMI (Jul): 55.2 forecast, 52.9 previous
• 14:00 US ISM Non-Manufacturing Business Activity (Jul): 54.2 previous
• 14:00 US ISM Non-Manufacturing Employment (Jul): 47.2 previous
• 14:00 US ISM Non-Manufacturing New Orders (Jul): 51.3 previous
• 14:00 US ISM Non-Manufacturing PMI (Jul): 51.5 forecast, 50.8 previous
• 14:00 US ISM Non-Manufacturing Prices (Jul): 67.5 previous
• 14:00 US IBD/TIPP Economic Optimism (Aug): 49.2 forecast, 48.6 previous
• 15:30 US 52-Week Bill Auction: 3.925% 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.On the data front, Business activity in the euro zone grew at a slightly faster pace in July than in June but remained sluggish as demand dipped, a survey showed on Tuesday.The HCOB Eurozone Composite Purchasing Managers' Index, compiled by S&P Global, edged up to 50.9 in July from 50.6 in June, just below a preliminary estimate of 51.0.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 was little changed 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.On the data front, Britain’s services sector saw new orders fall at the fastest pace since November 2022 and staffing levels cut at the sharpest rate in six months, a survey showed Tuesday. The S&P Global Services PMI slipped to 51.8 in July from 52.8 in June, though still above the earlier flash estimate of 51.2. 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 strengthened 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
European shares climbed on Tuesday, supported by stronger-than-expected earnings from Diageo and DHL, along with improved investor sentiment driven by hopes of a Federal Reserve rate cut next month.
At GMT (12:22) UK's benchmark FTSE 100 was last trading up at 0.44 percent, Germany's Dax was up by 0.79 percent, France’s CAC was up by 0.23 percent.
Commodities Recap
Gold edged lower on Tuesday as the dollar strengthened, though prices held near a two-week high amid rising expectations of a U.S. rate cut in September.
Spot gold was down 0.2% at $3,365.45 per ounce, by 0919 GMT. Bullion hit its highest since July 24 on Monday at $3,385.29. U.S. gold futures were unchanged at $3,423.20.
Commodities Recap
Oil slipped nearly 1% on Tuesday as rising OPEC+ supply and concerns over weaker global demand outweighed market jitters over U.S. President Donald Trump's threats to India regarding its Russian oil imports.
Brent crude futures were down 70 cents, or 1%, to $68.06 a barrel at 1052 GMT, while U.S. West Texas Intermediate crude slipped 79 cents, or 1.2%, to $65.50
Gold eased on Tuesday due to an uptick in the dollar, though prices remained near a two-week high on growing expectations of a U.S. rate cut in September.
Spot gold was down 0.2% at $3,365.45 per ounce, by 0919 GMT. Bullion hit its highest since July 24 on Monday at $3,385.29. U.S. gold futures were unchanged at $3,423.20.
Oil fell around 1% on Tuesday as rising OPEC+ supply and concerns over weakening global demand outweighed market jitters sparked by U.S. President Donald Trump's warnings to India over its Russian oil imports.
Brent crude futures were down 70 cents, or 1%, to $68.06 a barrel at 1052 GMT, while U.S. West Texas Intermediate crude slipped 79 cents, or 1.2%, to $65.50.