Posted at 08 August 2025 / Categories Market Roundups
Market Roundup
• Finland Industry Output (YoY) (Jun): 0.4%, 5.2% previous.
•France Unemployment Rate (Q2): 7.5%, 7.5% forecast, 7.5% previous.
•Sweden Household Confidence (MoM) (Jun): 0.60%, -0.90% previous.
•Sweden Household Confidence (YoY) (Jun): 2.10%, 0.80% previous.
•Sweden Industrial Production (YoY) (Jun): 12.8%, 3.0% previous.
•Sweden Industrial Production (MoM) (Jun): 6.5%, -0.6% previous.
•Sweden Industrial New Orders (YoY) (Jun): 1.0%, -4.1% previous.
•Greece CPI (YoY) (Jul): 3.1%, 2.8% previous.
•Greece HICP (YoY) (Jul): 3.7%, 3.6% previous.
•Greece Industrial Production (YoY) (Jun): 0.5%, -2.0% previous.
Looking Ahead Economic Data(GMT)
•Canada Avg Hourly Wages Permanent Employees (Jul): 3.2% previous.
•Canada Employment Change (Jul): 15.3K forecast, 83.1K previous.
•Canada Full-Time Employment Change (Jul): 13.5K previous.
•Canada Part-Time Employment Change (Jul): 69.5K previous.
•Canada Participation Rate (Jul): 65.4% previous.
•Canada Unemployment Rate (Jul): 7.0% forecast, 6.9% previous.
•U.S. Baker Hughes Oil Rig Count: 410 forecast, 410 previous.
•U.S. Baker Hughes Total Rig Count: 540 previous.
Looking Ahead Events and Other Releases(GMT)
•11:15 UK BoE MPC Member Pill Speaks
Currency Forecast
EUR/USD : The euro slipped on Friday as the dollar edged higher, buoyed by speculation that U.S. President Donald Trump’s interim Fed appointment hints at a dovish shift in future policy, possibly replacing Jerome Powell when his term ends. Despite lingering concerns over U.S. economic weakness—especially in the labor market the dollar is still down 0.6% for the week against major peers. Markets are focused on Trump’s nomination of Stephen Miran, current Chair of the Council of Economic Advisers, to a vacant Fed seat. Attention now turns to next week’s U.S. CPI data, expected to show a 0.3% rise in July core inflation a key gauge of whether tariffs are driving up prices and influencing Fed policy expectations. 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 near a two-week high against the U.S. dollar on Friday, as markets continued to assess the Bank of England’s policy shift. On Thursday, the BoE cut interest rates to 4%, but the decision exposed a deep divide within the Monetary Policy Committee four of the nine members voted to keep rates unchanged, prompting the central bank to hold two separate votes for the first time in its history. Following the announcement, the pound surged 0.7% against the dollar, marking its strongest single-day gain in 11 weeks. It is now set for a 1.3% weekly advance, while traders are pricing in a 93% chance that rates will remain on hold at the BoE’s September meeting. 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 inched higher on Friday, though gains were capped as investors awaited next week’s Reserve Bank of Australia (RBA) policy meeting. Markets widely expect the RBA to deliver a 25 basis point rate cut on Tuesday, a move that could weigh on the Aussie, particularly amid heightened global risk aversion driven by recent U.S. policy developments. While the central bank has emphasized a cautious, measured approach to easing, traders anticipate rates will likely stay unchanged in September, with the next potential cut expected 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 edged higher on Friday as investors digested the Bank of Japan’s July meeting minutes, which pointed to a potential shift in policy. The summary revealed that BOJ policymakers discussed the possibility of resuming interest rate hikes, with one member indicating a rate increase could come later this year. Several members also voiced concern over rising inflation, signaling a more hawkish tone within the central bank. At its July 30–31 meeting, the BOJ left rates unchanged at 0.5%, raised its inflation forecast, and adopted a more optimistic view of the economy—moves that have strengthened market expectations for a rate hike in the coming months. 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 rose modestly on Friday, lifted by strong corporate earnings and a surge in Novo Nordisk shares, putting the region’s benchmark on track for its best weekly performance in three months.
At GMT (12:22) UK's benchmark FTSE 100 was last trading down at 0.21 percent, Germany's Dax was down by 0.09 percent, France’s CAC was up by 0.07percent.
Commodities Recap
Oil prices ticked up on Friday but remained on course for their sharpest weekly decline since late June, weighed down by concerns over the global economic outlook amid new tariffs and the prospect of a potential meeting between U.S. President Donald Trump and Russian President Vladimir Putin.
Brent crude futures were up 52 cents, or 0.78%, at $66.95 a barrel by 1104 GMT. U.S. West Texas Intermediate crude futures rose 43 cents, or 0.67%, to $64.31.
Spot gold was little changed at $3,399.22 per ounce as of 0935 GMT. Bullion is on track for a second straight weekly gain, up about 1% so far this week.