Posted at 06 August 2025 / Categories Market Roundups
Market Roundup
• US Exports (Jun): 277.30B, 278.60B previous
• US US Imports (Jun): 337.50B, 350.30B previous
• US US Trade Balance (Jun): -60.20B, -62.60B forecast, -71.70B previous
•Canada Exports (Jun): 61.74B, 61.20B previous
•Canada Imports (Jun): 67.60B, 66.69B previous
•Canada Trade Balance (Jun): -5.86B, -5.80B forecast, -5.49B previous
•US Redbook YoY: 6.5%, 4.9% previous
•US S&P Global Composite PMI (Jul): 55.1, 54.6 forecast, 52.9 previous
•US S&P Global Services PMI (Jul): 55.7, 55.2 forecast, 52.9 previous
•US ISM Non-Manufacturing Business Activity (Jul): 52.6, 54.2 previous
•US US ISM Non-Manufacturing Employment (Jul): 46.4, 47.2 previous
•US ISM Non-Manufacturing New Orders (Jul): 50.3, 51.3 previous
•US ISM Non-Manufacturing PMI (Jul): 50.1, 51.5 forecast, 50.8 previous
•US ISM Non-Manufacturing Prices (Jul): 69.9, 66.5 forecast, 67.5 previous
•US IBD/TIPP Economic Optimism (Aug): 50.9, 49.2 forecast, 48.6 previous
US 52-Week Bill Auction: 3.760%, 3.925% previous
Looking Ahead Economic Data(GMT)
• No Data Ahead
Looking Ahead Events and Other Releases(GMT
• No events ahead
Currency Forecast
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).
. USD/CAD: The Canadian dollar was barely changed against its U.S. counterpart on Tuesday as oil prices fell and data showed a widening of the Canadian trade deficit that was close to expectations.Canada's merchandise trade deficit widened in June to C$5.9 billion ($4.24 billion) as imports grew faster than exports due to a one-time high-value oil equipment import. Analysts had predicted the deficit would increase to C$6.3 billion from a downwardly revised C$5.5 billion in May.The U.S. has increased tariffs on Canadian goods to 35% from 25%, but products covered by the U.S.-Mexico-Canada Agreement are exempt from duties. About 90% of Canadian exports to the U.S. in May were exempt under that trade deal.The price of oil, one of Canada's major exports, fell 1.4% to $65.35 a barrel on rising OPEC+ supply and worries of weaker global demand, while the U.S. dollar steadied against a basket of major currencies.Canada's employment report for July, due on Friday, could offer further clues on the state of the domestic economy. Immediate resistance can be seen at 1.3810 (Aug 6th high), an upside break can trigger rise towards 1.3886(38.2%fib).On the downside, immediate support is seen at 1.3742(38.2%fib), a break below could take the pair towards 1.3716 (SMA20).
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 closed higher on Tuesday, buoyed by better-than-expected corporate earnings and renewed optimism that the Federal Reserve may cut interest rates next month.
UK's benchmark FTSE 100 closed down by 0.78 percent, Germany's Dax ended down by 0.96 percent, France’s CAC finished the day down by 0.24 percent.
Wall Street's benchmark S&P 500 index closed up 0.5% on Tuesday, but concerns about slowing economic growth limited gains. The Dow Jones Industrial Average edged lower as bank stocks fell following warnings of weakness in the current quarter, while energy shares also dropped.
Dow Jones closed down by 0.23% percent, S&P 500 closed up by 0.45% percent, Nasdaq settled up by 0.84% percent.
Commodities Recap
- European shares closed higher on Tuesday, buoyed by better-than-expected corporate earnings and renewed optimism that the Federal Reserve may cut interest rates next month..
UK's benchmark FTSE 100 closed up by 0.16percent, Germany's Dax ended up by 0.38percent, France’s CAC finished the day down by 0.14 percent.
U.S. stocks ended lower on Tuesday as investors weighed the impact of tariffs after Yum Brands, opens new tab and other companies cited trade duties in their results or outlooks.
Dow Jones closed down by 0.14% percent, S&P 500 closed up by 0.49% percent, Nasdaq settled up by 0.65% percent.
Commodities Recap
Gold rose to a near two-week high on Tuesday, buoyed by rising expectations of U.S. interest rate cuts, as investors looked ahead to President Donald Trump’s upcoming Federal Reserve appointments.
Spot gold was up 0.2% at $3,380.20 per ounce by 01:55 p.m. ET (1755 GMT), after hitting its highest level since July 24 earlier. U.S. gold futures settled 0.2% higher at $3,434.7.
Oil prices slipped on Tuesday as rising OPEC+ supply and worries of weaker global demand countered concern about U.S. President Donald Trump's threats to India over its Russian oil purchases.
Brent crude futures settled $1.12, or 1.63%, lower to $67.64 a barrel, while U.S. West Texas Intermediate crude slipped $1.13, or 1.7%, to $65.16. Both benchmarks settled to their lowest in five weeks.