News

America’s Roundup: Dollar dips as investors worry about Fed independence, Wall Street ends higher, Gold hits two-week high, Oil falls 2%

Posted at 27 August 2025 / Categories Market Roundups


Market Roundup

•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%, -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  

•US Redbook (YoY) (Aug): 6.5%, 5.9% previous

•US House Price Index (YoY) (Jun): 2.6%, 2.9% previous

•US House Price Index (MoM) (Jun): -0.2%, -0.1% previous

•US House Price Index (Jun): 433.8, 434.6 previous

•US S&P/CS HPI Composite - 20 s.a. (MoM) (Jun): -0.3%, -0.3% previous

•US S&P/CS HPI Composite - 20 n.s.a. (YoY) (Jun): 2.1%, 2.8% previous

•US S&P/CS HPI Composite - 20 n.s.a. (MoM) (Jun): 0.0%, 0.4% previous

•US CB Consumer Confidence (Aug): 97.4, 98.7 previous

•US Richmond Manufacturing Index (Aug): -7, -20 previous

•US Richmond Manufacturing Shipments (Aug): -5, -18 previous

•US Richmond Services Index (Aug): 4, 2 previous

•US Atlanta Fed GDPNow (Q3): 2.2%, 2.3% previous

•US Dallas Fed Services Revenues (Aug): 8.6, 6.3 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 against the U.S. dollar on Tuesday as prospect that France's minority government could collapse soon weighed on euro. Three main opposition parties said they would not back a confidence vote which Prime Minister Francois Bayrou announced for September 8 over his plans for sweeping budget cuts. Further dampening the mood, U.S. President Donald Trump on Monday moved to fire Federal Reserve Governor Lisa Cook over claims of mortgage borrowing impropriety, renewing concerns over the U.S. central bank's independence. The dollar index  , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.29% to 98.19. The euro down   at $1.1626. 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 on Tuesday as 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).

 USD/CAD: The Canadian dollar firmed on Tuesday as the U.S. dollar weakened following President Donald Trump’s attempt to dismiss a Federal Reserve governor, raised concerns about the central bank’s independence. On Monday, Trump announced he was firing Fed Governor Lisa Cook over alleged mortgage borrowing improprieties. Cook responded that Trump has no authority to remove her and confirmed she would not resign. Her term is set to run until 2038.The unprecedented move could trigger a prolonged legal battle, potentially reshaping norms around the Fed’s independence and the president’s role in monetary policy. Cook’s departure could also accelerate Trump’s efforts to influence the Federal Open Market Committee, which sets interest rate policy. Trump has repeatedly pushed the Fed to cut rates to stimulate economic growth and lower borrowing costs.The loonie was trading 0.1% lower at 1.3753 per U.S. dollar . Immediate resistance can be seen at 1.3897(50% fib), an upside break can trigger rise towards 1.3926 (Higher BB).On the downside, immediate support is seen at 1.3813(SMA20), a break below could take the pair towards 1.3750(50%fib).

USD/JPY: The U.S. dollar traded in tight range 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 fell on Tuesday, dragged down by losses in France as the minority government faced a growing risk of being ousted next month, while mounting concerns over the U.S. Federal Reserve’s independence weighed on global risk sentiment.

UK's benchmark FTSE 100 closed down by 0.60 percent, Germany's Dax ended down  by 0.50 percent, France’s CAC finished the day down by 1. 70 percent.

The S&P 500 closed higher on Tuesday, supported by gains in Nvidia and Eli Lilly, as U.S. President Donald Trump’s move to dismiss a Federal Reserve governor heightened worries over the central bank’s independence.

Dow Jones closed up by  0.30% percent, S&P 500 closed up  by 0.41% percent, Nasdaq settled up by 0.44%  percent.

Commodities Recap

Gold prices rose to a more than two-week high on Tuesday, boosted by safe-haven demand amid shaken investor confidence in the U.S. central bank after President Donald Trump dismissed a Federal Reserve governor.

Spot gold gained 0.5% to $3,382.19 an ounce at 01:50 p.m. ET (1750 GMT), its highest level since August 11.U.S. gold futures for December delivery settled 0.5% higher at $3,433.

Oil prices dropped 2% on Tuesday, reversing the previous session’s gains, as investors monitored U.S. tariff developments, the ongoing war in Ukraine, and potential disruptions to Russian fuel supplies.

Brent crude was down $1.58, or 2.3%, at $67.22 a barrel, a day after hitting its highest price since early August. West Texas Intermediate (WTI) crude lost $1.55, or about 2.4%, to $63.25.


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