Posted at 22 August 2025 / Categories Market Roundups
Market Roundup
•Canada Core Retail Sales (MoM) (Jun) 1.9%, 0.9% forecast, -0.3% previous
•Canada Retail Sales (MoM) (Jun) 1.5%, 1.6% forecast, -1.2% previous
•Canada Retail Sales (MoM) (Jun) 1.5%, -1.2% previous
•U.S. Baker Hughes Oil Rig Count 411, , 412 previous
•U.S. Baker Hughes Total Rig Count 538, , 539 previous
Looking Ahead Economic data(GMT)
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Looking Ahead Events and Other Releases(GMT)
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Currency Summaries
EUR/USD : The euro gained against the dollar on Friday after Fed Chair Jerome Powell signaled the possibility of a September rate cut, though he stopped short of making a firm commitment. Powell noted that shifting risks could justify a policy adjustment, while balancing concerns over a weakening job market with ongoing inflation pressures. On the data front, Germany’s economy contracted by 0.3% quarter-on-quarter in Q2, the Federal Statistical Office reported Friday.The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was last down 0.96%on the day at 97.66. The euro gained 1.06% to $1.1728 and reached $1.1742, the highest since July 28. Immediate resistance can be seen at 1.1788(23.6%fib ), an upside break can trigger rise towards 1.1832(Higher BB).On the downside, immediate support is seen at 1.1600 (38.2%fib), a break below could take the pair towards 1.1439(50%fib).
GBP/USD: The British pound climbed sharply on Friday as the dollar weakened after Fed Chair Jerome Powell signaled the possibility of a near-term rate cut in his Jackson Hole speech. Powell highlighted rising risks to the labor market while cautioning that inflation pressures persisted and stressed that no decision had been finalized. Following his remarks, traders raised the probability of a 25-basis-point cut in September to 85% from 75%, according to CME’s FedWatch tool. Markets are now focused on key jobs and inflation data ahead of the Fed’s Sept. 16–17 policy meeting. Immediate resistance can be seen at 1.3564(38.2%fib), an upside break can trigger rise towards 1.3677(Higher BB).On the downside, immediate support is seen at 1.3393(50%fib), a break below could take the pair towards 1.3202(61.8%fib).
USD/CAD: The Canadian dollar strengthened against the U.S. dollar on Friday after Fed Chair Jerome Powell signaled the possibility of a September rate cut, though he stopped short of a firm commitment, citing both labor market risks and tariff-driven price pressures. Meanwhile, Prime Minister Mark Carney said Canada would remove many retaliatory tariffs on U.S. goods and step up efforts toward a new trade and security partnership with Washington. On the economic front, Canada’s retail sales rose 1.5% in June to C$70.25 billion ($50.49 billion), reversing May’s 1.2% decline, with volumes showing a similar gain, according to Statistics Canada. Immediate resistance can be seen at 1.3922(Higher BB), an upside break can trigger rise towards 1.3998(50%fib).On the downside, immediate support is seen at 1.3797(38.2 %fib), a break below could take the pair towards 1.3688(Lower BB).
USD/JPY: The U.S. dollar weakened against the yen on Friday after Federal Reserve Chair Jerome Powell suggested a possible interest rate cut at the central bank’s September meeting. Powell noted that risks to the labor market were increasing, though inflation pressures still posed a concern, emphasizing that no decision had yet been finalized. His remarks, while less direct than last year’s Jackson Hole signal for rate cuts, prompted investors to raise expectations for a 25-basis-point cut at the Sept. 16–17 meeting. Markets are now focused on the September 5 employment report and the following week’s inflation data for further guidance. Recent figures showed payroll growth slowing to an average of 35,000 jobs per month between May and July, even as the unemployment rate held at 4.2%. Immediate resistance can be seen at 148.38(38.2% fib) an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 146.52(50%fib) a break below could take the pair towards 145.73 (Lower BB).
Equities Recap
European shares hit a five-month high Friday after Fed Chair Powell signaled a possible September rate cut in his Jackson Hole speech.
UK's benchmark FTSE 100 closed up by 0.13 percent, Germany's Dax ended up by 0.29 percent, France’s CAC finished the day up by 0.40percent.
Wall Street closed higher Friday, with the Dow hitting a record, after Fed Chair Powell hinted at a near-term rate cut in his Jackson Hole speech.
Dow Jones ended up by 1.89% percent, S&P 500 ended up 1.52% percent, Nasdaq ended up by 1.88% percent.
Commodities Recap
Gold prices rebounded Friday as Fed Chair Powell’s Jackson Hole remarks boosted expectations of a September rate cut.
Spot gold was up 1.1% at $3,373.89 per ounce by 1:31 p.m. EDT (1731 GMT), while U.S. gold futures settled 1.1% up at $3,418.50.
Oil prices steadied Friday amid uncertainty over a potential Russia-Ukraine peace deal, but still posted their first weekly gain in three weeks.
Brent crude futures settled up 6 cents or 0.09% to $67.73. West Texas Intermediate (WTI) crude futures settled up 14 cents or 0.22% to $63.66.