Posted at 08 August 2025 / Categories Market Roundups
Market Roundup
•US Continuing Jobless Claims: 1,974K, 1,950K forecast, 1,936K previous.
•US Initial Jobless Claims: 226K, 221K forecast, 219K previous.
•US Jobless Claims 4-Week Avg.: 220.75K, 221.25K previous.
•US Nonfarm Productivity (QoQ) (Q2): 2.4%, 1.9% forecast, -1.8% previous.
•US Unit Labor Costs (QoQ) (Q2): 1.6%, 1.6% forecast, 6.9% previous.
•US Wholesale Inventories (MoM) (Jun): 0.1%, 0.2% forecast, -0.3% previous.
•US Wholesale Trade Sales (MoM) (Jun): 0.3%, -0.4% previous.
•Canada Ivey PMI n.s.a (Jul): 54.6, 54.6 previous.
•Canada Ivey PMI (Jul): 55.8, 55.2 forecast, 53.3 previous.
•US Consumer Inflation Expectations (Jul): 3.1%, 3.0% previous.
•US 4-Week Bill Auction: 4.300%, 4.290% previous.
•US 8-Week Bill Auction: 4.235%, 4.290% previous.
•US Atlanta Fed GDPNow (Q3): 2.5%, 2.5% forecast, 2.5% 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 edged lower on Thursday after U.S. President Donald Trump's latest tariff volleys. U.S. President Donald Trump's higher tariffs kicked in on Thursday, including a 39% rate on Switzerland. Swiss President Karin Keller-Sutter left Washington on Wednesday after failing to meet with Trump or any top trade officials. Trump also said the United States will impose a tariff of about 100% on imports of semiconductors but offered up a big exemption - it will not apply to companies that are manufacturing in the U.S. or have committed to do so. On the data front,German industrial output fell in June to its lowest level since the pandemic, with exports rising more than expected amid weak foreign demand and increased competition from China.Immediate resistance can be seen at 1.1784(23.6%fib ), an upside break can trigger rise towards 1.1874(Higher BB).On the downside, immediate support is seen at 1.1638 (SMA 20), a break below could take the pair towards 1.1549(38.2%fib).
GBP/USD: Sterling rose on Thursday after the Bank of England delivered a widely expected rate cut, but deep divisions within the Monetary Policy Committee (MPC) over inflation raised investor eyebrows. In a historic first, the MPC held two separate votes highlighting a sharp split, with four of nine members preferring to leave rates unchanged. The BoE now faces a policy dilemma, balancing a softening labour market against persistent inflation pressures. The unexpected hawkish dissent led markets to reconsider the likelihood of further rate cuts. The pound briefly jumped 0.6% to a session high of $1.3430 before easing to $1.3407, still 0.4% higher on the day. Immediate resistance can be seen at 1.3486(38.2%fib), an upside break can trigger rise towards 1.3589(Higher BB).On the downside, immediate support is seen at 1.3575(SMA 20), a break below could take the pair towards 1.3319(50%fib).
USD/JPY: The dollar edged higher against the yen on Thursday after reports suggested Federal Reserve Governor Christopher Waller is emerging as a leading candidate for Fed chair under President Donald Trump's team.According to Bloomberg, Waller has met with Trump’s advisors, who are reportedly impressed, although he has yet to meet the president. Trump has been openly critical of current Fed Chair Jerome Powell, whose term ends in May, accusing him of being too slow to cut interest rates. This has raised concerns among investors about the independence of Powell’s potential successor. The dollar index rose 0.18% to 98.36, while the greenback gained 0.1% against the yen to trade at 147.49.. Immediate resistance can be seen at 148.04(SMA20) an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 146.31(61.8%fib) a break below could take the pair towards 145.40 (Lower BB).
Equities Recap
European stocks posted their strongest daily gain in over two weeks on Thursday, led by financials, as investors balanced mixed corporate earnings, U.S. tariff developments, and hopes of progress in resolving the Russia-Ukraine conflict.
UK's benchmark FTSE 100 closed up by 0.68 percent, Germany's Dax ended up by 1.12 percent, France’s CAC finished the day up by 0.97 percent.
Wall Street indexes ended mixed on Thursday, supported by strong financials and renewed hopes for a Ukraine ceasefire.
Dow Jones closed down by 0.52% percent, S&P 500 closed down by 0.08% percent, Nasdaq settled up by 0.35% percent.
Commodities Recap
Gold climbed to a more than two-week high on Thursday, supported by safe-haven demand following the implementation of U.S. tariffs and softer jobs data that fueled rate-cut expectations.
Spot gold gained 0.7% to $3,392.65 per ounce as of 0202 p.m. ET (18:02 GMT), after hitting its highest level since July 23 earlier in the session. U.S. gold futures settled 0.6% higher at $3,453.7.
Oil prices held steady during early Asian trading on Friday but remained on track for their steepest weekly decline since late June, as investors weighed the economic impact of new tariffs that took effect Thursday.
Oil prices dropped on Thursday for a sixth consecutive session after the Kremlin said Russian President Vladimir Putin would meet U.S. President Donald Trump in the coming days, raising expectations for a diplomatic end to the war in Ukraine.
Brent crude futures settled down 46 cents, or 0.7%, at $66.43 a barrel. U.S. West Texas Intermediate crude fell 47 cents, or 0.7%, to $63.88.