Posted at 05 September 2025 / Categories Market Roundups
Market Roundup
• US Challenger Job Cuts (YoY) (Aug): 13.3%, 139.8% previous
• US Challenger Job Cuts (Aug): 85.979K, 62.075K previous
• US ADP Nonfarm Employment Change (Aug): 54K, 73K forecast, 106K previous
•Canada Reserve Assets Total (Aug): 127.9B, 126.6B previous
•US Continuing Jobless Claims: 1,940K, 1,960K forecast, 1,944K previous
•US Exports (Jul): 280.50B, 277.30B previous
•US Imports (Jul): 358.80B, 337.50B previous
•US Initial Jobless Claims: 237K, 230K forecast, 229K previous
•US Jobless Claims 4-Week Avg.: 231.00K, 228.50K previous
• US Nonfarm Productivity (QoQ) (Q2): 3.3%, 2.8% forecast, 2.4% previous
• US Trade Balance (Jul): -78.30B, -77.70B forecast, -59.10B previous
• US Unit Labor Costs (QoQ) (Q2): 1.0%, 1.2% forecast, 1.6% previous
• Canada Exports (Jul): 61.86B, 61.30B previous
• Canada Imports (Jul): 66.80B, 67.29B previous
• Canada Services PMI (Aug): 48.60, 49.30 previous
• Canada Trade Balance (Jul): -4.94B, -5.20B forecast, -5.98B previous
• US S&P Global Services PMI (Aug): 54.5, 55.4 forecast, 55.7 previous
• US All Car Sales (Jul): 2.61M, 2.54M previous
• US All Truck Sales (Aug): 13.40M, 13.93M previous
• US ISM Non-Manufacturing Business Activity (Aug): 55.0, 52.6 previous
• US ISM Non-Manufacturing Employment (Aug): 46.5, 46.7 forecast, 46.4 previous
• US ISM Non-Manufacturing New Orders (Aug): 56.0, 50.3 previous
Looking Ahead Events and Other Releases(GMT)
• 05:00 Japan Coincident Indicator (MoM) (Jul) 0.7% previous
• 05:00 Japan Leading Index (MoM) (Jul) 0.8% previous
• 05:00 Japan Leading Index (Jul) 105.8 forecast,105.6 previous
• Looking Ahead Events and Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD The euro edged higher on Thursday in a volatile week with markets eyeing a crucial jobs report, after data indicating labor market weakness reinforced expectations that Federal Reserve will cut rates this month. Data showed on Thursday that the number of Americans filing new applications for jobless benefits increased more than expected last week, consistent with softening labor market conditions. Furthermore, the ADP National Employment Report showed U.S. private payrolls increased less than expected in August. Several Federal Reserve officials said labour market worries continue to underpin their view that rate cuts still lie ahead for the central bank, boosting expectations of an imminent rate cut. Traders are pricing in a near-100% chance of the Fed cutting interest rates later this month, up from 87% a week ago, CME FedWatch showed. Immediate resistance can be seen at 1.1734(23.6%fib), an upside break can trigger rise towards 1.1787(June 24th high).On the downside, immediate support is seen at 1.1616 (38.2%fib), a break below could take the pair towards 1.1585(Lower BB ).
GBP/USD: The pound edged higher against the dollar on Thursday as labor market data did not change expectations for an interest rate cut by the Federal Reserve, a day ahead of the key U.S. monthly jobs report.Data earlier showed the number of Americans filing new applications for jobless benefits increased more than expected last week. The U.S. non-farm payrolls report is due on Friday. This comes after spot gold prices hit a record high of $3,578.50 on Wednesday, as weak job opening data cemented U.S. rate cut bets and lingering uncertainties supported safe-haven demand. The market is now pricing in a 98% chance of a 25 basis-point rate cut this month, according to CME Group's FedWatch tool. Immediate resistance can be seen at 1.3486(SMA 20), an upside break can trigger rise towards 1.3530(38.2%fib).On the downside, immediate support is seen at 1.3388(Lower BB), a break below could take the pair towards 1.3338(50%fib).
USD/CAD: The Canadian dollar weakened for a fourth consecutive day on Thursday, pressured by stronger U.S. services data that lifted the greenback ahead of Canada’s upcoming jobs report, which could shape expectations for a Bank of Canada rate cut. The ISM non-manufacturing PMI rose to 52.0 in August from 50.1 in July, highlighting U.S. economic resilience. In contrast, Canada’s services sector contracted for the ninth straight month as tariff-related uncertainty weighed on exports and business confidence. Meanwhile, Canada’s trade deficit narrowed to C$4.9 billion in July from C$6 billion, supported by a third consecutive monthly increase in exports..The loonie was trading 0.3% lower at 1.3830 per U.S. dollar, after touching its weakest intraday level since August 27 at 1.3845.. Immediate resistance can be seen at 1.3880(50 %fib), an upside break can trigger rise towards 1.3899(Higher BB).On the downside, immediate support is seen at 1.3808(SMA20), a break below could take the pair towards 1.3749(38.2%fib).
USD/JPY: The U.S. dollar edged lower against the yen on Thursday as market digested US jobs data.Data showed that the number of Americans filing new applications for unemployment benefits increased more than expected last week, while hiring by private employers slowed in August, further evidence that labor market conditions were softening.Several Federal Reserve officials said labour market worries continue to underpin their view that rate cuts still lie ahead for the central bank, boosting expectations of an imminent rate cut. The Fed is due to meet on September 16 and 17.Traders are pricing in a near-100% chance of the Fed cutting interest rates later this month, up from 87% a week ago, CME FedWatch showed.Immediate resistance can be seen at 148.69(Higher BB) an upside break can trigger rise towards 149.00(Psychological level) .On the downside, immediate support is seen at 147.73(20SMA) a break below could take the pair towards 147.30 (38.2%fib).
Equities Recap
European shares ended higher on Thursday, supported by rising expectations of a U.S. Federal Reserve rate cut and relief from bond market pressures.
UK's benchmark FTSE 100 closed up by 0.42 percent, Germany's Dax ended up by 0.74percent, France’s CAC finished the day down by 0.27 percent.
S&P 500 closed at a record high Thursday as labor data kept Fed rate-cut bets intact ahead of the U.S. jobs report.
Dow Jones was closed up by 0.77 percent, S&P 500 closed up 0.83 % percent, Nasdaq was closed higher by 0.98% percent.
Commodities Recap
Gold prices eased on Thursday as traders booked profits after a record rally, with focus turning to the U.S. payrolls report for policy clues from the Federal Reserve.
Spot gold fell 0.4% at $3,544.15 per ounce by 11:27 a.m. EDT (1527 GMT), while U.S. gold futures dipped 0.9% to $3,603.70.
Oil prices fell around 1% to a two-week low on Thursday after an unexpected rise in U.S. crude inventories and expectations of an OPEC+ output hike this weekend.
Brent crude futures fell 65 cents, or 1.0%, to settle at $66.95 a barrel, while U.S. West Texas Intermediate crude fell 49 cents, or 0.8%, to settle at $63.48.