Posted at 08 August 2025 / Categories Market Roundups
Market Roundup
• Canada Avg hourly wages Permanent employee (Jul) 3.5%, 3.2% previous
•Canada Avg Hourly Wages Permanent Employees (Jul): 3.5%, 3.2% previous
•Canada Employment Change (Jul): -40.8K, 15.3K forecast, 83.1K previous
•Canada Full-Time Employment Change (Jul): -51.0K, 13.5K previous
•Canada Part-Time Employment Change (Jul): 10.3K, 69.5K previous
•Canada Participation Rate (Jul): 65.2%, 65.4% previous
•Canada Unemployment Rate (Jul): 6.9%, 7.0% forecast, 6.9% previous
•U.S. Baker Hughes Oil Rig Count: 411, 410 previous
•U.S. Baker Hughes Total Rig Count: 539, 540 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 Friday as investors evaluate U.S. President Donald Trump’s nominations to the Federal Reserve. Recent weaker economic data has underpinned expectations for rate cuts, while investors are evaluating Trump's interim pick for a Federal Reserve governor.The president late in Thursday's session nominated Council of Economic Advisers Chair Stephen Miran to a short-term board seat following Adriana Kugler's abrupt exit last week, as he narrowed his shortlist to succeed Fed Chair Jerome Powell, whose term ends on May 15.Miran, who is often aligned with Trump, has previously suggested Powell was "too late" in lowering rates. Meanwhile, the next major U.S. economic release will be consumer price data for July due on Tuesday, which will be watched to see whether tariffs are reigniting inflation pressures. 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: Pound neared two-week highs on Friday as traders digested Thursday's Bank of England rate decision.The Bank of England (BoE) lowered interest rates by 25 basis points to 4.0%, a move widely anticipated by markets.The decision came via a narrow 5–4 vote, with four Monetary Policy Committee members favoring no changesignaling a cautious stance toward further easing.The BoE noted that inflation has risen temporarily this year, driven largely by higher energy and food costs, and warned it could climb further in the short term. However, policymakers expressed confidence that price pressures would gradually subside, allowing inflation to return to the 2% target over the medium term.The split vote and balanced tone suggest the central bank is in no hurry to accelerate its rate-cut cycle. 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/CAD: The Canadian dollar eased against its U.S. counterpart on Friday after weaker-than-expected domestic employment figures, though the data had only a limited effect on overall expectations for Bank of Canada (BoC) interest rate cuts. Statistics Canada reported that the economy lost 40,800 jobs in July, giving back part of June’s 83,000 surge and pulling the employment rate to an eight-month low. Economists had projected a gain of 13,500 jobs. The decline was concentrated in younger workers, with participation slipping to 65.2% from 65.4%.Following the report, money markets priced in a 38% probability of a BoC rate cut to 2.75% at the September 17 policy meeting, compared with 33% before the release. The loonie traded near 1.3745 per U.S. dollar, moving within a 1.3726–1.3762 intraday range. Despite Friday’s dip, the Canadian currency posted a 0.3% weekly gain. Immediate resistance can be seen at 1.3814(Aug 5th high), an upside break can trigger rise towards 1.3862 (50%fib).On the downside, immediate support is seen at 1.3729(38.2%fib), a break below could take the pair towards 1.3641(July 8th low).
USD/JPY: The U.S. dollar strengthened on Friday as investors assessed minutes from the Bank of Japan’s July policy meeting, which pointed to a growing possibility of higher interest rates.The summary showed that BOJ policymakers debated the likelihood of resuming rate hikes, with at least one member signaling the chance of an increase before year-end. Several participants warned of persistent inflationary pressures, indicating a hawkish tilt and rising support for tightening monetary policy in the coming months.At its July 30–31 meeting, the BOJ left its benchmark rate unchanged at 0.5%, but upgraded its inflation forecast and expressed greater confidence in the economic outlook—moves that reinforced expectations for a potential hike later this year.The dollar strengthened 0.41% to 147.71 against the Japanese yen. 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 ended higher on Friday, with the benchmark index recording its largest weekly gain in twelve weeks. Banking shares led the advance, while investors kept a close watch for signs of a potential Russia–Ukraine ceasefire.
UK's benchmark FTSE 100 closed down by 0.06 percent, Germany's Dax ended down by 0.12 percent, France’s CAC finished the day up by 0.44 percent.
U.S. stocks finished higher on Friday, with the Nasdaq posting a record closing high for the second consecutive session.
Dow Jones closed up by 0.47% percent, S&P 500 closed up by 0.79% percent, Nasdaq settled up by 0.99% percent.
Commodities Recap
U.S. gold futures pared gains on Friday, retreating from record high levels, after reports that the White House plans to issue an executive order clarifying the country's stance on gold bar tariffs.
December U.S. gold futures were steady at $3454.1 per ounce as of 1852 GMT, after hitting a record $3,534.10 earlier in the session.
Oil prices held steady on Friday as markets awaited an upcoming meeting between Russian President Vladimir Putin and U.S. President Donald Trump.
Brent crude futures settled 16 cents, or 0.2%, higher at $66.59 a barrel, while U.S. West Texas Intermediate crude futures were unchanged at $63.88.