Posted at 02 September 2025 / Categories Market Roundups
Market Roundup
•Australia Current Account (Q2) -13.7B, -15.9B forecast, -14.1B previous
•Australia Net Exports Contribution (Q2) 0.1%,0.3% forecast,-0.1% previous
•Japan 10-Year JGB Auction1.612%, 1.462% previous
Looking Ahead Economic Data (GMT)
• 09:00 Italian PPI (MoM) (Jul) 1.5% previous
• 09:00 Italian PPI (YoY) (Jul) 2.5% previous
•09:00 EU Core CPI (MoM) (Aug) -0.2% previous
•09:00 EU Core CPI (YoY) (Aug) 2.2% forecast, 2.3% previous
•09:00 EU CPI (YoY) (Aug) 2.1% forecast, 2.0% previous
•09:00 EU CPI (MoM) (Aug) 0.0% previous
•09:00 EU CPI, n.s.a (Aug) 129.12 previous
•09:00 EU HICP ex Energy & Food (YoY) (Aug) 2.4% previous
•09:00 EU HICP ex Energy and Food (MoM) (Aug) -0.1% previous
Looking Ahead Events and Other Releases(GMT)
•11:30 ECB's Elderson Speaks
Currency Summaries
EUR/USD : The euro slipped on Tuesday as dollar recovered some ground ahead of key U.S. data that could reinforce expectations for a Federal Reserve rate cut in September. Markets are pricing in an 89% chance of a 25-basis-point reduction, though this week’s releases may influence whether the Fed considers a larger move. Focus will be on Friday’s nonfarm payrolls, with JOLTS job openings and ADP private payrolls due earlier to provide a clearer view of labor market conditions at the center of the policy debate. In Europe, the data calendar includes euro zone unemployment, flash HICP inflation for August, producer prices, retail sales, and the third estimate of Q2 GDP, while Germany will release final PMIs and industrial orders. Immediate resistance can be seen at 1.1744(Higher BB), an upside break can trigger rise towards 1.1798(23.6%fib).On the downside, immediate support is seen at 1.1643(38.2%fib), a break below could take the pair towards 1.1542(50%fib ).
GBP/USD: The pound slipped against the dollar on Tuesday as the greenback strengthened as traders returned back from the Labor Day break. Attention now turns to key U.S. August data—ISM manufacturing and services PMIs along with non-farm payrolls—to assess the impact of Trump’s policies on jobs and industry. Investors will also track the JOLTS job openings and ADP private payrolls reports for early signals on hiring momentum. According to the CME FedWatch tool, markets currently assign an 87% probability of a 25-basis-point Fed rate cut later this month. In the UK, the data calendar is light, with retail sales being the key release. BoE officials Catherine Mann and Sarah Breeden are also scheduled to speak on Wednesday. Immediate resistance can be seen at 1.3549(38.2%fib), an upside break can trigger rise towards 1.3588(Aug 14th high).On the downside, immediate support is seen at 1.3439(61.8%fib), a break below could take the pair towards 1.3396(SMA20).
AUD/USD: The Australian dollar slipped on Tuesday after data signaled only modest growth, reinforcing expectations of further RBA easing. Australia’s Q2 current account deficit narrowed to A$13.7B from A$14.1B in Q1, beating forecasts of A$16.08B. Net exports added just 0.1 percentage point to GDP, while government spending was flat. The full Q2 GDP report, due Wednesday, is expected to show 0.5% growth, supported by a rebound in household consumption. The RBA, which has already cut rates three times this year to 3.6% as inflation cooled, may ease further amid a sluggish recovery. Immediate resistance can be seen at 0.6551(38.2%fib), an upside break can trigger rise towards 0.6592(Higher BB).On the downside, immediate support is seen at 0.6512(SMA20), a break below could take the pair towards 0.6429(50%fib).
USD/JPY: The U.S. dollar rose against the yen on Tuesday as yen weakened as market digested Bank of Japan Deputy Governor Ryozo Himino comments.BoJ Deputy Governor Ryozo Himino said Tuesday the bank should continue raising rates but stressed high global uncertainty, signaling no rush to hike further.Himino also noted both upside and downside risks to inflation, with tight labor markets supporting wages but slowing global growth and higher U.S. tariffs posing downside pressure on prices.Himino gave little guidance on the timing of rate hikes, saying only the BoJ must avoid moving too early or too late.The BoJ ended its decade-long stimulus last year and lifted short-term rates to 0.5% in January, expecting Japan to be close to sustainably reaching its 2% inflation goal. Immediate resistance can be seen at 148.80(38.2%fib) an upside break can trigger rise towards 150.79(236%fib) .On the downside, immediate support is seen at 147.7(Daiy low) a break below could take the pair towards 146.26 (Lower BB).
Equities Recap
Asian stocks advanced on Tuesday, with Indonesia and South Korea leading gains as expectations grew for a U.S. rate cut this month, while investors also weighed political risks in Southeast Asia’s two biggest economies.
South Korea’s KOSPI traded up 0.94% , ChinaA50 up 0.40%,Japan’s Nikkei 225 was up 0.35%
Commodities Recap
Gold surged past $3,500 per ounce to a record high on Tuesday, lifted by a weaker dollar and growing expectations of a September Fed rate cut.
Spot gold was up 0.3% at $3,487.55 per ounce as of 0633 GMT, after hitting a record high of $3,508.50 earlier in the session. Bullion has gained 32% so far this year.U.S. gold futures for December delivery gained 1.2% to $3,557.80.
Oil prices climbed on Tuesday on rising concerns over supply disruptions from the escalating Russia-Ukraine conflict, while markets also weighed the impact of upcoming U.S. jobs data on potential Fed rate cuts.
Brent crude added 37 cents, or 0.54%, to $68.52 a barrel by 0617 GMT, while U.S. West Texas Intermediate crude was at $65.02 a barrel, up $1.01, or 1.58%.WTI futures did not settle on Monday due to the Labor Day holiday in the U.S.