Posted at 06 August 2025 / Categories Market Roundups
Market Roundup
•Canada Reserve Assets Total (Jul): 126.6B, 127.9B previous
•Canada Services PMI (Jul): 49.30%, 44.30% previous
•US Crude Oil Inventories: -3.029M, 0.200M forecast, 7.698M previous
•US EIA Refinery Crude Runs (WoW): 0.213M, -0.025M previous
•US Crude Oil Imports: -0.794M, 1.317M previous
•US Cushing Crude Oil Inventories: 0.453M, 0.690M previous
•US Distillate Fuel Production: -0.104M, 0.130M previous
•US EIA Weekly Distillates Stocks: -0.565M, 1.000M forecast, 3.635M previous
•US Gasoline Production: -0.239M, 0.676M previous
•US Heating Oil Stockpiles: -0.456M, 0.739M previous
•US EIA Weekly Refinery Utilization Rates (WoW): 1.5%, -0.1% previous
•US Gasoline Inventories: -1.323M, -1.000M forecast, -2.724M previous
Looking Ahead Economic Data(GMT)
•23:50 Japan Foreign Bonds Buying -331.6B previous
•23:50 Japan Foreign Investments in Japanese Stocks 743.3Bprevious
•23:50 Japan Foreign Reserves (USD) (Jul) 1,313.8B previous
•01:30 Australia Building Approvals (MoM) (Jun) 11.9% forecast, 3.2% previous
•01:30 Australia Exports (MoM) (Jun) -2.7% previous
•01:30 Australia Imports (MoM) (Jun) 3.8% previous
•01:30 Australia Private House Approvals (Jun) -0.2% forecast, 0.5% previous
• 01:30 Australia Trade Balance (Jun) 3.180B forecast, 2.238B previous
•03:00 New Zealand Inflation Expectations (QoQ) (Q3) 2.3% previous
•03:00 China Exports (Jul) 7.20M previous
•03:00 China Imports (Jul) 2.30M previous
•03:00 China Trade Balance (Jul) 756.00B forecast, 825.97B previous
•03:00 China Imports (YoY) (Jul) -1.0% forecast, 1.1% previous
•03:00 China Trade Balance (USD) (Jul) 105.20B forecast, 114.77B previous
•03:00 China Exports (YoY) (Jul) 5.4% forecast, 5.8% previous
•05:00 Japan Leading Index (MoM) (Jun) 0.6% previous
•05:00 Japan Leading Index (Jun) 106.2 forecast, 104.8 previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
EUR/USD : The euro hit a one-week high as dollar dipped after traders bet that the Federal Reserve will cut rates more times than previously expected this year, following weaker than expected jobs data for Julius. employment growth was weaker than expected in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp deterioration in labor market conditions. The greenback fell sharply after the report, paring gains from what had been a relatively strong July for the currency, the first month this year in which the dollar index posted a gain.Fed funds futures traders are now pricing in a 95% probability of a 25 basis point cut at the Fed’s September meeting, up from 48% a week ago, according to the CME Group’s FedWatch Tool. In total, traders see 62 basis points in cuts this year. 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 strengthened against the U.S. dollar on Wednesday as traders looked ahead to the Bank of England’s policy decision, with a widely expected rate cut to 4% from 4.25% due on Thursday. Despite inflation nearing twice the BoE’s 2% target in June, markets are pricing in another cut before year-end, with over a 90% chance of easing this week and 86 basis points of cuts expected by December 2026. Britain’s construction sector shrank at its fastest pace in over five years in July, raising fresh concerns about the government’s ability to deliver on its pledge to build 1.5 million homes by mid-2029. S&P Global’s construction Purchasing Managers’ Index (PMI) fell sharply to 44.3 in July from 48.8 in June the lowest reading since May 2020 and below all economist forecasts signaling a deepening slowdown in the sector. 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 strengthened to an eight-day high against its U.S. counterpart on Wednesday as risk appetite picked up and the downturn in Canada's services economy eased.S&P Global's Canada services PMI data showed that the pace of decline of new business activity has slowed and firms have grown more optimistic about the outlook for activity. The headline Business Activity Index rose to 49.3 last month from 44.3 in June, marking the highest level since November.Separate data showed that Toronto home sales rose 13% month-over-month in July, which is the biggest increase since October 2024.The loonie was trading 0.2% higher at 1.3745 per U.S. dollar, its fourth straight day of gains. Immediate resistance can be seen at 1.3784(Aug 6th high), an upside break can trigger rise towards 1.3867 (50% fib).On the downside, immediate support is seen at 1.3732(38.2% fib), a break below could take the pair towards 1.3673(July 25th low).
USD/JPY: The U.S. dollar fell against the yen on Wednesday greenback dipped after traders bet that the Federal Reserve will cut rates more times than previously expected this year. The health of the U.S. economy is a major focus for markets after data showed services sector activity unexpectedly flat lined in July.That reinforced the message from Friday's soft jobs data, which caused markets to significantly increase bets on the Federal Reserve cutting rates in September. Trump on Tuesday said he would announce tariffs on semiconductors and chips in the next week or so, while the U.S. would initially impose a "small tariff" on pharmaceutical imports before increasing it substantially in a year or two. 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 ended flat on Wednesday, giving up early gains as healthcare stocks slipped following President Trump’s threat to raise tariffs on pharmaceutical imports.
UK's benchmark FTSE 100 closed up by 0.24 percent, Germany's Dax ended up by 0.33 percent, France’s CAC finished the day up by 0.18 percent.
Wall Street indexes rose on Wednesday, boosted by upbeat corporate earnings and higher U.S. yields, while European shares ended flat, snapping a two-day winning streak.
Dow Jones closed up by 0.18% percent, S&P 500 closed up by 0.73% percent, Nasdaq settled up by 1.21% percent.
Commodities Recap
Gold prices dipped on Wednesday as investors took profits after a near two-week high, with attention turning to Trump’s upcoming Fed nominations.
Spot gold fell 0.2% to $3,373.59 per ounce by 02.00 p.m. ET (1800 GMT). U.S. gold futures settled flat at $3,433.4.
Oil prices fell around 1% to an eight-week low on Wednesday after President Trump’s comments on progress in talks with Moscow raised doubts about potential new U.S. sanctions on Russia.
Brent crude futures fell 75 cents, or 1.1%, to $66.89 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 81 cents, or 1.2%, to $64.35.