Posted at 26 August 2025 / Categories Market Roundups
Market Roundup
• Sweden PPI (YoY) (Jul) -0.6%, -3.1% previous
• Sweden PPI (MoM) (Jul) 1.1%, -0.6% previous
•Finnish Unemployment Rate (Jul) 9.6%,9.3% previous
•French Consumer Confidence (Aug) 87.90 forecast, 88 previous
•US Core Durable Goods Orders (MoM) (Jul) 1.1%, 0.2% forecast, 0.3% previous
•US Durable Goods Orders (MoM) (Jul) -2.8%, -3.8%forecast, -9.3% previous
•US Durables Excluding Defense (MoM) (Jul) -2.5%,-3.6% forecast,-9.5% previous
•US Goods Orders Non Defense Ex Air (MoM) (Jul) 1.1%, 0.3% forecast,-0.6% previous
Looking Ahead Economic Data (GMT)
•12:55 Redbook (YoY) 5.9% previous
•13:00 US House Price Index (YoY) (Jun) 2.8% previous
•13:00 US House Price Index (MoM) (Jun) -0.1% forecast, -0.2% previous
•13:00 US House Price Index (Jun) 434.4 previous
•13:00 US S&P/CS HPI Composite - 20 s.a. (MoM) (Jun) -0.3% previous
•13:00 US S&P/CS HPI Composite - 20 n.s.a. (MoM) (Jun) 0.4% previous
•13:00 US S&P/CS HPI Composite - 20 n.s.a. (YoY) (Jun) 2.1% forecast, 2.8% previous
•13:00 Canada Manufacturing Sales (MoM) (Jul) 1.8% forecast, 0.3% previous
•14:00 US CB Consumer Confidence (Aug) 96.4 forecast, 97.2 previo
•14:00 US Richmond Manufacturing Index (Aug) -11 forecast, -20 previous
•14:00 US Richmond Manufacturing Shipments (Aug) -18 previous
•14:00 US Richmond Services Index (Aug) 2 previous
•14:30 US Dallas Fed Services Revenues (Aug) 6.3 previous
•14:30 US Texas Services Sector Outlook (Aug) 2.0 previous
•15:30 US Atlanta Fed GDPNow (Q3) 2.3% forecast, 2.3% previous
Looking Ahead Events and Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro edged higher against the U.S. dollar on Tuesday, supported by a weaker dollar amid renewed concerns about the Federal Reserve’s independence.The dollar came under pressure after President Donald Trump took the unprecedented step of firing Federal Reserve Governor Lisa Cook on Monday, citing alleged mortgage borrowing improprieties. The move sparked fears over political interference in U.S. monetary policy, prompting a flight from U.S. assets.In response, Cook issued a statement via her lawyer, Abbe Lowell, emphasizing that no legal cause exists for her removal and asserting that the president lacks authority to dismiss her from the Fed board. Immediate resistance can be seen at 1.1679(38.2%fib), an upside break can trigger rise towards 1.1794(23.6%fib).On the downside, immediate support is seen at 1.1585(50%fib), a break below could take the pair towards 1.1493(61.8%fib ).
GBP/USD: The pound strengthened against the U.S. dollar on Monday after the greenback weakened in reaction to President Donald Trump’s announcement that he was removing Federal Reserve Governor Lisa Cook from her position.Trump cited alleged improprieties in mortgage applications, claiming in a letter to Cook that he had “sufficient cause” for her removal. He referenced 2021 loan documents in which Cook reportedly listed properties in both Michigan and Georgia as her primary residence.The move, targeting the first African-American woman to serve on the Fed’s board, is unprecedented and could trigger a legal challenge, potentially testing the boundaries of presidential authority over the Federal Reserve’s independence. Immediate resistance can be seen at 1.3509(Aug 20th high), an upside break can trigger rise towards 1.3583(38.2%fib).On the downside, immediate support is seen at 1.3435(50%fib), a break below could take the pair towards 1.3403(Lower BB).
AUD/USD: The Australian dollar moved in a narrow range on Tuesday as investors assessed the Reserve Bank of Australia’s (RBA) latest meeting minutes from August 11–12.The minutes revealed that RBA policymakers supported a 25-basis-point cut to 3.6%, citing evidence that inflation is moving toward the midpoint of the 2–3% target range. While the board considered accelerating the rundown of government bond holdings, it ultimately decided to maintain the current approach of letting bonds mature.Policymakers also emphasized that sustaining full employment and maintaining low, stable inflation would likely require additional rate cuts over the coming year.Market expectations reflect this guidance: investors now anticipate the RBA will hold rates in September, followed by a cut in November to 3.35%, with pricing suggesting rates could eventually settle near 3.10%, and potentially as low as 2.85%.Immediate resistance can be seen at 0.6517(38.2%fib), an upside break can trigger rise towards 0.6592(Higher BB).On the downside, immediate support is seen at 0.6486(SMA 20), a break below could take the pair towards 0.6404(50%fib).
USD/JPY: The U.S. dollar slipped against the yen on Tuesday after President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook over alleged mortgage improprieties. Cook, the first African-American woman on the Fed board, rejected the dismissal, stating that Trump lacks the authority to remove her and that she will not resign. The unprecedented move marks a significant escalation in Trump’s confrontation with the Fed over its slow pace of rate cuts, raising concerns among investors about the central bank’s independence. Market focus has now turned to the Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred measure of inflation, which is due on Friday. Immediate resistance can be seen at 148.72(38.2%fib) an upside break can trigger rise towards 147.70(Higher BB) .On the downside, immediate support is seen at 146.64(50%fib) a break below could take the pair towards 145.93 (Lower BB).
Equities Recap
European shares edged up on Tuesday as investors digested mixed earnings and assessed the potential fallout from new U.S. tariffs on key trading partners, which could dampen global growth and reignite inflation fears.
At GMT (12:22) UK's benchmark FTSE 100 was last trading down at 0.41 percent, Germany's Dax was down by 0.34 percent, France’s CAC was down by 1.47 percent.
Commodities Recap
Gold prices surged to a more than two-week high on Tuesday after President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook.
Spot gold was up 0.4% at $3,378.64 an ounce at 1143 GMT, having hit its highest since August 11 at $3,386.27 earlier in the session.
Oil prices dropped more than 1% on Tuesday, reversing part of the nearly 2% surge seen in the previous session.
Brent crude was down $1.08, or 1.57%, at $67.72 a barrel by 1040 GMT, having hit its highest since early August in the previous session. West Texas Intermediate (WTI) crude lost $1.13, or about 1.74%, to $63.67.