Posted at 03 September 2025 / Categories Market Roundups
Market Roundup
•HCOB Italy Services PMI (Aug): 51.5, 52.1 forecast, 52.3 previous
•HCOB France Composite PMI (Aug): 49.8, 49.8 forecast, 48.6 previous
•HCOB France Services PMI (Aug): 49.8, 49.7 forecast, 48.5 previous
•HCOB Germany Composite PMI (Aug): 50.5, 50.9 forecast, 50.6 previous
•HCOB Germany Services PMI (Aug): 49.3, 50.1 forecast, 50.6 previous
•HCOB Eurozone Composite PMI (Aug): 51.0, 51.1 forecast, 50.9 previous
•HCOB Eurozone Services PMI (Aug): 50.5, 50.7 forecast, 51.0 previous
•UK S&P Global Composite PMI (Aug): 53.5, 53.0 forecast, 51.5 previous
•UK S&P Global Services PMI (Aug): 54.2, 53.6 forecast, 51.8 previous
•Eurozone PPI (YoY) (Jul): 0.2%, 0.1% forecast, 0.6% previous
•Eurozone PPI (MoM) (Jul): 0.4%, 0.2% forecast, 0.8% previous
Looking Ahead Economic Data(GMT)
•14:00 US Durables Excluding Defense (MoM) (Jul): -2.5% forecast, -2.5% previous
•14:00 US Durables Excluding Transport (MoM) (Jul): 1.1% previous
•14:00 US Factory Orders (MoM) (Jul): -1.3% forecast, -4.8% previous
•14:00 US Factory Orders Ex Transportation (MoM) (Jul): 0.4% previous
•14:00 US JOLTS Job Openings (Jul): 7.380M forecast, 7.437M previous
•16:00 US Total Vehicle Sales (Aug): 16.10M forecast, 16.40M previous
Looking Ahead Events and Other Releases(GMT)
• 13:15 UK BoE Gov Bailey Speaks
• 13:15 UK BoE MPC Treasury Committee Hearings
Currency Forecast
EUR/USD: The euro edged higher on Wednesday as investors assessed the impact of rising borrowing costs following a surge in bond yields. Long-dated government borrowing costs, from Japan to Britain, reached multi-year highs amid ongoing fiscal concerns, though markets showed signs of stabilizing after the sharp sell-off. A survey also indicated that the eurozone economy continued expanding slowly in August, with weaker services growth offsetting improved manufacturing output. Later, U.S. July job openings data are due, providing insight into the labor market ahead of the Federal Reserve’s meeting later this month. Immediate resistance can be seen at 1.1659(SMA 20), an upside break can trigger rise towards 1.1711(38.2%fib).On the downside, immediate support is seen at 1.1616 (50%fib), a break below could take the pair towards 1.1578(Lower BB ).
GBP/USD: The pound edged higher on Wednesday but gains were limited as mounting concerns over the UK's fiscal trajectory unsettled investors.The sharp rise in long-dated yields, particularly the 20-year and 30-year maturities, reflects mounting investor concerns over Britain’s fiscal outlook and debt sustainability, leaving the pound under sustained pressure. Attention turns to UK politics. Prime Minister Keir Starmer reshaped his economic team on Monday, a move that unsettled markets. Attention now turns to the Bank of England. Four Monetary Policy Committee (MPC) members are set to address the Treasury Select Committee on Wednesday, an event closely watched for policy clues. 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 edged higher on Wednesday after data showed the economy rebounded more than expected in Q2. Australia’s GDP rose 0.6%, above the 0.5% forecast and up from 0.3% in Q1, marking the fastest growth in nearly two years, driven by a rebound in consumer spending following rate cuts. The stronger-than-expected growth slightly tempered expectations for further Reserve Bank of Australia rate cuts, with markets still pricing a quarter-point reduction to 3.35% in November, though the total expected easing fell to 44 basis points from 50. Immediate resistance can be seen at 0.6523(38.2%fib), an upside break can trigger rise towards 0.6590(Higher BB).On the downside, immediate support is seen at 0.64898(Sep 2ndlow), a break below could take the pair towards 0.6436(38.2%fib).
USD/JPY: The U.S. dollar held firm against the yen on Wednesday as uncertainty over the timing of the next BOJ rate hike pressured the Japanese currency. BoJ Governor Kazuo Ueda said he discussed the economy, markets, and FX moves with Prime Minister Shigeru Ishiba, noting that exchange rates were considered within broader economic and market developments but offering no further details. On monetary policy, Ueda reaffirmed that the BOJ is prepared to raise interest rates if economic and price trends align with its projections. His comments followed Deputy Governor Ryozo Himino’s Tuesday warning of global uncertainty, which had weighed on the yen as investors saw them as less hawkish than expected .Immediate resistance can be seen at 147.30(SMA20) an upside break can trigger rise towards 148.30(Higher BB) .On the downside, immediate support is seen at 146.53(50%fib) a break below could take the pair towards 146.26 (Lower BB).
Equities Recap
European shares edged higher on Wednesday, rebounding from steep losses in the previous session as the long-dated bond selloff stabilized, while investors awaited U.S. job openings data.
At GMT (13:20) UK's benchmark FTSE 100 was last trading up at 0.21 percent, Germany's Dax was up by 0.36 percent, France’s CAC was up by 0.73 percent.
Commodities Recap
Gold reached another record high on Wednesday, holding above $3,500 amid rising expectations of a Federal Reserve rate cut and concerns over U.S. tariff policy and central bank independence.
Spot gold was up 0.4% at $3,547.27 per ounce as of 1132 GMT, after hitting an all-time high of $3,549.53 earlier in the session. U.S. gold futures for December delivery gained 0.6% to $3,613.30.
Oil prices dropped about 2% on Wednesday ahead of the OPEC+ weekend meeting, where producers are expected to consider raising October production targets.
Brent crude fell $1.16, or 1.7%, to $67.98 a barrel by 1030 GMT. U.S. West Texas Intermediate crude fell $1.28, or 2%, to $64.31 a barrel.