Posted at 29 August 2025 / Categories Market Roundups
Market Roundup
• US Continuing Jobless Claims: 1,954K, 1,970K forecast, 1,961K previous
• US Core PCE Prices (Q2): 2.50%, 2.50% forecast, 3.50% previous
• US Corporate Profits (QoQ) (Q2): 2.0%, -3.3% previous
• US GDP (QoQ) (Q2): 3.3%, 3.0% forecast, -0.5% previous
• US GDP Price Index (QoQ) (Q2): 2.0%, 2.0% forecast, 3.8% previous
• US GDP Sales (Q2): 6.8%, 6.3% forecast, -3.1% previous
• US Initial Jobless Claims: 229K, 231K forecast, 234K previous
• US Jobless Claims 4-Week Avg.: 228.50K, 226.00K previous
• US PCE Prices (Q2): 2.0%, 2.1% forecast, 3.7% previous
• US Real Consumer Spending (Q2): 1.6%, 1.4% forecast, 0.5% previous
• Canada Average Weekly Earnings (YoY) (Jun): 3.74%, 3.29% previous
• Canada Current Account (Q2): -21.2B, -18.8B forecast, -1.3B previous
• US Pending Home Sales (MoM) (Jul): -0.4%, -0.4% forecast, -0.8% previous
• US Pending Home Sales Index (Jul): 71.7, 72.0 previous
• US Natural Gas Storage: 18B, 27B forecast, 13B previous
• US KC Fed Composite Index (Aug): 1, 1 previous
• US KC Fed Manufacturing Index (Aug): 0, -3 previous
• US 4-Week Bill Auction: 4.245%, 4.300% previous
• US 8-Week Bill Auction: 4.145%, 4.220% previous
• US 7-Year Note Auction: 3.925%, 4.092% previous
Looking Ahead Economic Data(GMT)
•01:30 Australia Housing Credit (Jul) 0.5% previous
•01:30 Australia Private Sector Credit (MoM) (Jul) 0.6% forecast, 0.6% previous
•03:00 New Zeland M3 Money Supply (Jul) 433.5B previous
•05:00 Japan Construction Orders (YoY) (Jul) 22.5% previous
•05:00 Japan Household Confidence (Aug) 34.2 forecast, 33.7 previous
•05:00 Japan Housing Starts (YoY) (Jul) -9.9% forecast, -15.6% previous
Looking Ahead Events and Other Releases(GMT)
•No events ahead
Currency Summaries
EUR/USD : The euro edged higher against the dollar on Thursday, demonstrating resilience despite the looming threat of a French government collapse. Prime Minister François Bayrou has announced an unexpected confidence vote for September 8, putting his minority government at risk. The potential collapse has sparked concerns over an economic slowdown. Business leaders warned that a government fall could revive recession fears, while opposition parties have pledged to vote against Bayrou, leaving France the Eurozone’s second-largest economy facing renewed political and economic turmoil. Recent opinion polls indicate that a majority of French citizens now favor new national elections, reflecting deepening political dissatisfaction and the risk of prolonged uncertainty. Immediate resistance can be seen at 1.1740(Higher BB), an upside break can trigger rise towards 1.1829(23.6%fib).On the downside, immediate support is seen at 1.1607 (38.2%fib), a break below could take the pair towards 1.1547(Lower BB ).
GBP/USD: The pound edged higher against the dollar on Thursday as the greenback weakened, driven by increased bets on a potential Federal Reserve rate cut next month. Traders reacted to comments from New York Fed President John Williams, who indicated that monetary easing could be possible.The dollar also faced pressure from President Donald Trump’s intensified efforts to influence Fed policy, including his attempt to dismiss Governor Lisa Cook and appoint a loyalist. Market attention now turns to Friday’s release of the Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge. Futures markets currently imply an 84% probability of a 25-basis-point cut in September, with a total of 56 basis points of easing expected by year-end. Immediate resistance can be seen at 1.3612(38.2%fib), an upside break can trigger rise towards 1.3656(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).
USD/CAD: The Canadian dollar weakened against the U.S. dollar on Thursday as greenback weakened on ongoing concerns over Fed independence. The U.S. dollar came under renewed pressure as President Donald Trump intensified efforts to influence monetary policy, including his attempt to dismiss Fed Governor Lisa Cook. Investors will focus on Friday’s Personal Consumption Expenditures data, with any signs of rising inflation potentially dampening expectations for a Fed rate cut in September.Traders are pricing in more than an 80% chance of an interest rate cut next month, according to CME Group's FedWatch. Statistics Canada will release Q2 GDP data on Friday, along with an advance estimate for July, which investors will closely watch to assess the economy’s health and the likelihood of a rate cut next month. Immediate resistance can be seen at 1.3801(SMA 20), an upside break can trigger rise towards 1.3834 (50%fib).On the downside, immediate support is seen at 1.3708(38.2%fib), a break below could take the pair towards 1.3683(Lower BB).
USD/JPY: The U.S. dollar weakened against the yen on Thursday as expectations for a Federal Reserve rate cut next month continued to build. Investor sentiment for easing strengthened after New York Fed President John Williams suggested that rate reductions are possible. The dollar also came under pressure this week amid President Trump’s intensified efforts to influence monetary policy, including attempts to remove Fed Governor Lisa Cook and install a loyalist. Meanwhile, Bank of Japan board member Junko Nakagawa warned that ongoing uncertainty surrounding U.S. tariff policies could weigh on business and household sentiment, posing risks to both Japan’s and the global economy. Nakagawa reaffirmed that the BOJ would continue raising rates if economic conditions match forecasts, while emphasizing the importance of careful data assessment amid heightened 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
Europe’s STOXX 600 slipped on Thursday, weighed down by healthcare stocks, as investors digested earnings from Pernod Ricard and Nvidia.
UK's benchmark FTSE 100 closed down by 0.42 percent, Germany's Dax ended down by 0.03 percent, France’s CAC finished the day up by 0.24 percent.
S&P 500 and Dow Jones closed at record levels on Thursday, supported by robust AI infrastructure spending revealed in Nvidia’s report, despite earnings missing forecasts.
Dow Jones closed up by 0.16% percent, S&P 500 closed up by 0.32 % percent, Nasdaq settled up by 0.53% percent.
Commodities Recap
Gold climbed to a five-week high Thursday, aided by a weaker dollar and safe-haven demand amid concerns over Fed independence.
Spot gold rose 0.6% to $3,416.14 per ounce at 0147 p.m. ET (1747 GMT), hitting its highest level since July 23.U.S. gold futures for December delivery settled at $3,466.10.
Oil prices closed higher Thursday, recovering from early losses after the White House noted President Trump’s displeasure over Russia’s overnight missile and drone attacks on Ukraine.
Brent crude futures settled up 57 cents, or 0.8%, at $68.62 a barrel, while U.S. West Texas Intermediate crude futures rose 45 cents, or 0.7%, to close at $64.60 a barrel.