Posted at 08 August 2025 / Categories Market Roundups
Market Roundup
• Japan Household Spending (MoM) (Jun): -5.2%, -3.0% forecast, 4.6% previous.
•Japan Adjusted Current Account (Jun): 2.40T, 2.76T forecast, 2.82T previous.
•Japan Bank Lending (YoY) (Jul): 3.2%, 2.7% forecast, 2.7% previous.
•Japan Current Account n.s.a. (Jun): 1.348T, 1.480T forecast, 3.436T previous
Looking Ahead Economic Data(GMT)
•09:00 Greece CPI (YoY) (Jul): 2.8% previous
•09:00 Greece HICP (YoY) (Jul): 3.6% previous
•09:00 Greece Industrial Production (YoY) (Jun): -2.0% previous
Looking Ahead Events and Other Releases(GMT)
•11:15 UK BoE MPC Member Pill Speaks
Currency Forecast
EUR/USD : The euro edged lower on Friday as investors reacted to U.S. President Donald Trump's nomination of Stephen Miran, Chairman of the Council of Economic Advisers, to fill a vacant seat on the Federal Reserve Board. Miran’s nomination follows the unexpected resignation of Governor Adriana Kugler last week, as the White House continues its search for a permanent appointee. The move has raised fresh concerns over the Fed’s independence, given Trump’s repeated criticism of the central bank for not cutting interest rates more aggressively. Adding to market caution, investors are closely watching developments on a potential U.S.-China tariff agreement ahead of the August 12 deadline. A failure to reach a deal could trigger tariffs exceeding 100% on Chinese goods, escalating trade tensions further. 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: The British pound held steady against the U.S. dollar on Friday after the Bank of England (BoE) cut interest rates by 25 basis points to 4%, in line with market expectations. The decision followed a closely split 5-4 vote, with four Monetary Policy Committee members favoring no change, signaling a more cautious approach to future rate cuts.The BoE acknowledged that inflation had temporarily risen this year, largely driven by higher energy and food prices, and warned it may increase further in the short term. However, policymakers expressed confidence that price pressures would ease and inflation would return to the 2% target over the medium term.The mixed messaging and divided vote suggest the central bank is in no rush to accelerate easing. 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).
AUD/USD: The Australian dollar edged higher but gains were limited as investors looked to RBA policy meet next week .Traders are now turning their attention to the upcoming Reserve Bank of Australia (RBA) monetary policy meeting on Tuesday, where a 25 basis point rate cut is widely expected. Such a move could pressure the Aussie further, especially amid global risk aversion triggered by U.S. policy shifts.The central bank has stressed a gradual and cautious approach to easing, leading investors to expect rates to remain unchanged at the September meeting, with the next cut likely in November.Markets are fully priced for a move on Tuesday, with a slim chance of an outsized 50 basis point cut. Immediate resistance can be seen at 0.6531(38.2%fib), an upside break can trigger rise towards 0.6600(Psychological level).On the downside, immediate support is seen at 0.6447(Daily low), a break below could take the pair towards 0.6410(50%fib).
USD/JPY: The U.S. dollar gained slightly on Friday as as investors digested minutes from the Bank of Japan’s July meeting.BOJ policymakers discussed the possibility of resuming rate hikes, with one member signaling a potential increase this year, boosting expectations of a near-term rise in borrowing costs, the July meeting summary showed.Some BOJ members warned of rising inflation, signaling a hawkish shift and growing support for a possible rate hike in the coming months.At its July 30–31 meeting, the BOJ held rates at 0.5%, raised its inflation outlook, and struck a more upbeat economic tone, reinforcing expectations of a possible rate hike this year. 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
Japan's broadest stock index hitting a record high on strong corporate earnings and expectations that the U.S. would remove overlapping tariffson the country's goods..
South Korea’s KOSPI traded down 0.55% , Hang Seng was down 0.92 %, Japan’s Nikkei was up 1.91%
Commodities Recap
Gold futures hit a record high on Friday following reports of new U.S. tariffs on 1-kg gold bar imports, while spot gold headed for a second weekly gain amid tariff tensions and U.S. rate-cut expectations.
Spot gold held steady at $3,394.36 per ounce, as of 0620 GMT, after hitting its highest since July 23 earlier in the session.
Oil prices fell for a sixth straight session on Thursday after the Kremlin announced an upcoming meeting between Presidents Putin and Trump, boosting hopes for a diplomatic resolution to the Ukraine war.
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.