Posted at 03 September 2025 / Categories Market Roundups
Market Roundup
• Canada Labor Productivity (QoQ) (Q2): -1.0%, -0.2% forecast, -0.1% previous
• US Durables Excluding Defense (MoM) (Jul): -2.5%, -2.5% forecast, -2.5% previous
• US Durables Excluding Transport (MoM) (Jul): 1.0%, 1.1% previous
• US Factory Orders (MoM) (Jul): -1.3%, -1.3% forecast, -4.8% previous
• US Factory Orders Ex Transportation (MoM) (Jul): 0.6%, 0.4% previous
• US JOLTS Job Openings (Jul): 7.181M, 7.380M forecast, 7.357M previous
Looking Ahead Economic Data (GMT)
•23:50 Japan Foreign Bonds Buying: -167.2B previous
•23:50 Japan Foreign Investments in Japanese Stocks: -496.8B previous
•01:30 Australia Exports (MoM): 6.0% previous
•01:30 Australia Imports (MoM): -3.1% previous
•01:30 Australia Trade Balance: 4.880B, 5.365B previous
•03:35 Japan 30-Year JGB Auction: 3.089% previous
Looking Ahead Events and Other Releases(GMT)
•No Events Ahead
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. On the data front, a private survey showed the euro zone economy kept expanding at a snail's pace in August, as weaker services growth offset improved manufacturing output. German services sector activity contracted slightly in August after a marginal expansion in July, as new business shrank again, a survey showed. 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: Sterling recovered slightly from a four-week low on Wednesday as traders weighed the impact of a two-day bond market selloff that underscored Britain’s fiscal challenges ahead of the annual budget. Long-dated government bond yields surged globally, with UK 30-year gilt yields climbing to their highest level since 1998. While the sharp rise in borrowing costs added pressure on sterling already down more than 1% on Tuesday markets showed tentative signs of stabilisation after the rout.But the currency was last up at $1.3444 against the dollar, after touching its lowest level since August 6 in early trading. 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).
USD/CAD: The Canadian dollar slipped slightly against the U.S. dollar on Wednesday butmoves were limited ahead of Friday’s employment report and signs of easing tensions between Canada and the U.S. Economists expect August’s jobs data to show a 10,000 gain and unemployment rising to 7.0% from 6.9% in July. Markets are pricing in about a 60% chance of a Bank of Canada rate cut at its September 17 meeting, following a deeper-than-expected Q2 economic contraction. The BoC has kept its benchmark rate steady at 2.75% since March.The loonie was trading 0.1% lower at 1.3790 per U.S. dollar after moving in a range of 1.3779 to 1.3807. On Tuesday, the currency touched a six-day low at 1.3815. Immediate resistance can be seen at 1.3813(38.2 %fib), an upside break can trigger rise towards 1.3926(Higher BB).On the downside, immediate support is seen at 1.3696(Lower BB), a break below could take the pair towards 1.3595(23.6%fib).
USD/JPY: The U.S. dollar weakened against the yen on Wednesday after fresh data signaled further softening in the labor market, bolstering expectations for monetary policy easing by the Federal Reserve. According to the Labor Department’s JOLTS report, job openings declined by 176,000 to 7.181 million in July, falling short of the 7.378 million forecast in a poll. The weaker-than-expected data prompted the dollar to reverse earlier gains, slipping against both the Japanese yen and the Swiss franc. It weakened 0.2% to 148.09 yen and dropped 0.06% to 0.8042 Swiss franc .The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.24% to 98.165. .Immediate resistance can be seen at 148.85(38.2%fib) an upside break can trigger rise towards 149.00(Psychological level) .On the downside, immediate support is seen at 147.22(50%fib) a break below could take the pair towards 146.40 (Lower BB).
Equities Recap
European stocks closed higher on Wednesday, finding stability as investors reassessed fiscal risks after a sharp selloff in longer-dated bonds triggered risk-off sentiment a day earlier.
UK's benchmark FTSE 100 closed up by 0.67 percent, Germany's Dax ended up by 0.46 percent, France’s CAC finished the day up by 0.86 percent.
Wall Street stocks edged higher on Wednesday, lifted by Alphabet after a favorable antitrust ruling, though gains were capped as investors weighed weaker labor market data and a global selloff in long-term government bonds.
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Dow Jones was closed down by 0.3406 percent, S&P 500 closed up 0.51% percent, Nasdaq was closed higher by1.02% percent.
Commodities Recap
Gold climbed to fresh records high on Wednesday as soft U.S. labor data boosted bets on a Fed rate cut, while ongoing global risks underpinned safe-haven flows.
Spot gold was up 1.2% to $3,576.59 per ounce by 2:25 p.m. EDT (1825 GMT), after hitting a record high of $3,578.50.U.S. gold futures gained 1.2% to $3,635.50.
Oil prices fell by more than 2% on Wednesday ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October.
Brent crude fell $1.6, or 2.31%, to $67.54 a barrel by 2:11 p.m. EDT (1811 GMT). U.S. West Texas Intermediate crude fell $1.68, or 2.56%, to $63.91 a barrel.
Oil prices slid over 2% on Wednesday as traders looked ahead to the OPEC+ meeting this weekend, where another output hike for October is expected to be discussed.
Brent crude fell $1.6, or 2.31%, to $67.54 a barrel by 2:11 p.m. EDT (1811 GMT). U.S. West Texas Intermediate crude fell $1.68, or 2.56%, to $63.91 a barrel.