Posted at 28 August 2025 / Categories Market Roundups
Market Roundup
• New Zealand ANZ Business Confidence (Aug) 49.7 ,47.8 previous
• New Zealand NBNZ Own Activity (Aug) 38.7%, 40.6% previous
•Australia Building Capital Expenditure (MoM) (Q2) 0.2%, 1.0% previous
•Australia Plant/Machinery Capital Expenditure (QoQ) (Q2) 0.3%, -1.7% previous
•Australia Private New Capital Expenditure (QoQ) (Q2) 0.2%, 0.8%forecast,-0.2% previous
Looking Ahead Economic Data(GMT)
• 08:00 Italian Business Confidence (Aug) 87.2 forecast, 87.8 previous
• 08:00 Italian Consumer Confidence (Aug) 96.6 forecast, 97.2 previous
• 08:00 EU M3 Money Supply (YoY) (Jul) 3.5% forecast, 3.3% previous
• 08:00 EU Loans to Non Financial Corporations (Jul) 2.7% previous
• 08:00 EU Private Sector Loans (YoY) (Jul) 2.4% forecast, 2.2% previous
• 08:30 Portuguese Business Confidence (Aug) 2.8 previous
• 08:30 Portuguese Consumer Confidence (Aug) previous -15.70 previous
•09:00 Italian Industrial Sales (MoM) (Jun) -2.20% previous
•09:00 Italian Industrial Sales (YoY) (Jun) -1.80% previous
•09:00 EU Business and Consumer Survey (Aug) 96.0 forecast, 95.8 previous
•09:00 EU Business Climate (Aug) -0.72 previous
•09:00 EU Consumer Confidence (Aug) -15.5 forecast, -14.7 previous
•09:00 EU Consumer Inflation Expectation (Aug) previous 25.1
•09:00 EU Selling Price Expectations (Aug) previous 9.2
•09:00 EU Services Sentiment (Aug) 3.9 forecast, 4.1 previous
•09:00 EU Industrial Sentiment (Aug) -10.0 forecast, -10.4 previous
•09:30 Belgium CPI (YoY) (Aug) 1.92% previous
•09:30 Belgium CPI (MoM) (Aug) 0.49% previous
Looking Ahead Events and Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro traded flat against dollar on Thursday as investors digested the political uncertainty in France, where Prime Minister François Bayrou has called an unexpected confidence vote for September 8. The move threatens to topple his minority government, heightening fears of an economic slowdown. Business leaders warned that a government collapse could reignite recession concerns, while opposition parties have pledged to vote against Bayrou, leaving the eurozone’s second-largest economy facing renewed political and economic turmoil. Opinion polls carried out after Bayrou's announcement show most French people now want new national elections, pointing to deepening dissatisfaction with politics and a risk of lasting uncertainty. Immediate resistance can be seen at 1.1792(23.6%fib), an upside break can trigger rise towards 1.1829(Higher BB).On the downside, immediate support is seen at 1.1596 (38.2%fib), a break below could take the pair towards 1.1488(50%fib ).
GBP/USD: The pound edged higher against the dollar on Thursday as traders increased bets on a Federal Reserve rate cut next month, after New York Fed President John Williams signaled that easing was possible. The greenback also came under pressure from President Donald Trump’s escalating push to influence monetary policy, including his attempt to dismiss Fed Governor Lisa Cook and install a loyalist. Market focus now shifts to Friday’s release of the Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge. Futures markets currently assign about an 84% probability of a 25-basis-point cut in September and are pricing in a total of 56 basis points of easing by year-end. Immediate resistance can be seen at 1.3612(38.2%fib), an upside break can trigger rise towards 1.366(higher BB).On the downside, immediate support is seen at 1.3470(50%fib), a break below could take the pair towards 1.3456(SMA 20).
AUD/USD: The Australian dollar inched higher on Thursday as the U.S. dollar eased, with traders ramping up bets on a potential Fed rate cut next month. New York Fed President John Williams said on Wednesday that rate reductions are possible but would depend on upcoming economic data to determine if a move is warranted. Markets currently assign an 88.7% probability to a 25-basis-point Fed cut on September 17, up sharply from 61.9% in July, according to CME FedWatch. Investors are closely monitoring Friday’s release of the U.S. Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation gauge, which will be crucial in shaping expectations for future policy.A survey of economists shows the July U.S. PCE price index is expected to rise 2.6%, unchanged from the previous month. 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 Thursday, weighed down by growing expectations of a Fed rate cut next month. Investors increased bets on easing after New York Fed President John Williams indicated that rate reductions are possible.The dollar has faced additional pressure this week as President Trump intensified efforts to influence monetary policy, including moves to remove Fed Governor Lisa Cook and replace her with an ally.Meanwhile, BOJ board member Junko Nakagawa cautioned that persistent uncertainty over U.S. tariff policies could undermine business and household sentiment, posing risks to both Japan’s and the global economy. She also reiterated that the BOJ will continue raising rates if economic conditions align with forecasts, while stressing the need for careful data assessment amid elevated uncertainties.. Immediate resistance can be seen at 145.51(SMA 20) an upside break can trigger rise towards 148.46(38.2%fib) .On the downside, immediate support is seen at 146.76(50%fib) a break below could take the pair towards 146.00 (Psychological level).
Equities Recap
Asian stocks saw a volatile session on Thursday as concerns over the outlook for AI leader Nvidia weighed on its regional suppliers, while driving strong gains for its Chinese competitors..
South Korea’s KOSPI was up 0.29% , Hang Seng was down 0.87, Japan’s Nikkei 225 was up 0.76%
Commodities Recap
Gold prices stayed near a more-than two-week high on Thursday, underpinned by a softer dollar and anticipation of potential U.S. rate cuts while investors awaited inflation figures.
Spot gold was steady at $3,394.60 per ounce, as of 0648 GMT. Earlier in the session, bullion touched its highest point since August 11.U.S. gold futures for December delivery edged 0.1% higher to $3,451.60.
Oil slipped on Thursday after rising the day before, as traders factored in slowing U.S. fuel demand toward the end of summer and awaited India’s reaction to U.S. tariffs.
Brent crude futures dropped 50 cents, or 0.73%, to $67.55 at 0643 GMT, and West Texas Intermediate (WTI) crude futures declined 51 cents, or 0.80%, to $63.64.