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Asia Roundup: U.S. dollar posts modest gain after Thursday’s sharp decline, Asian shares advance, Gold climbs, Oil prices extend losses

Posted at 12 September 2025 / Categories Market Roundups


Market Roundup

•   New Zealand Business NZ PMI (Aug) 49.9 , 52.8 previous        

•   New Zealand Electronic Card Retail Sales (MoM) (Aug) 0.7%, 0.2% previous                   

•   New Zealand Electronic Card Retail Sales (YoY) (Aug) 0.9%,1.7% previous

•  Japan Capacity Utilization (MoM) (Jul)    -1.1%, -1.8% previous   

•  Japan Industrial Production (MoM) (Jul) -1.2%,  -1.6% forecast, 2.1% previous                                               

•UK Construction Output (MoM) (Jul): 0.2%, -0.2% forecast, 0.3% previous

•UK Construction Output (YoY) (Jul): 2.4%, 1.9% forecast, 1.5% previous

•UK GDP (MoM) (Jul): 0.0%, 0.0% forecast, 0.4% previous

•UK GDP (YoY) (Jul): 1.4%, 1.5% forecast, 1.4% previous

•UK Index of Services (Jul): 0.4%, 0.3% forecast, 0.4% previous

•UK Industrial Production (MoM) (Jul): -0.9%, 0.0% forecast, 0.7% previous

•UK Industrial Production (YoY) (Jul): 0.1%, 1.1% forecast, 0.2% previous

•UK Manufacturing Production (YoY) (Jul): 0.2%, 1.6% forecast, 0.0% previous

•UK Manufacturing Production (MoM) (Jul): -1.3%, 0.1% forecast, 0.5% previous

•UK Monthly GDP 3M/3M (Jul): 0.2%, 0.2% forecast, 0.3% previous

•UK Trade Balance (Jul): -22.24B, -21.60B forecast, -22.16B previous

•UK Trade Balance Non-EU (Jul): -10.16B,   -10.78B previous

•German CPI (YoY) (Aug): 2.2%, 2.2% forecast, 2.0% previous

•German CPI (MoM) (Aug): 0.1%, 0.1% forecast, 0.3% previous

•German HICP (YoY) (Aug): 2.1%, 2.1% forecast, 1.8% previous

•German HICP (MoM) (Aug): 0.1%, 0.1% forecast, 0.4% previous

•French CPI (MoM) (Aug): 0.4%, 0.4% forecast, 0.2% previous

 

•French CPI (YoY) (Aug): 0.9%, 0.9% forecast, 1.0% previous

•French HICP (MoM) (Aug): 0.5%, 0.5% forecast, 0.3% previous

•French HICP (YoY) (Aug): 0.8%, 0.8% forecast, 0.9% previous   

Looking Ahead Economic Data (GMT)

•  08:30 UK Inflation Expectations 3.2% previous

•  11:00 UK NIESR Monthly GDP Tracker (Aug) 0.2% previous                      

Looking Ahead Events and Other Releases(GMT)

• No Events Ahead        

Currency Forecast

EUR/USD : The euro rose slightly on Friday as traders scaled back expectations for another European Central Bank rate cut this cycle, now viewing it as a coin toss, after the ECB expressed optimism about the economic outlook. Eurozone policymakers kept the key interest rate unchanged at 2% for a second consecutive meeting, with ECB President Christine Lagarde stating that the bank remains in a “good place” and that economic risks have become more balanced. Fitch Ratings is expected to release its assessment of French public finances after markets close on Friday, following the confidence vote on September 8. The euro stood at $1.1724 .Immediate resistance can be seen at 1.1807(Higher BB), an upside break can trigger rise towards 1.1837(Higher BB).On the downside, immediate support is seen at 1.1669(38.2%fib), a break below could take the pair towards 1.1681(SMA 20 ).

GBP/USD: The pound edged lower against the dollar on Friday after the release of UK GDP data. Britain’s economy showed no growth in July, reflecting a sharp decline in manufacturing output, consistent with expectations for a slower start to the second half of 2025. Manufacturing, which accounts for roughly 9% of the economy, fell 1.3% for the month, driven by drops in production of computers, electronics, and pharmaceuticals, according to the Office for National Statistics. In contrast, the much larger services sector rose 0.1%, slightly above forecasts. On an annual basis, GDP increased 1.4% in July, unchanged from June but slightly below the 1.5% growth that had been expected. Immediate resistance can be seen at 1.3580(Higher BB), an upside break can trigger rise towards 1.3680(23.6%fib).On the downside, immediate support is seen at 1.3492(38.2%fib), a break below could take the pair towards 1.3404(Lower BB).

 AUD/USD: The Australian dollar slipped on Friday as the U.S. dollar recovered modestly following Thursday’s sharp drop triggered by weak jobless claims data. Thursday’s figures showed the largest weekly rise in new U.S. unemployment claims in four years, overshadowing August’s consumer inflation data, which saw prices rise at the fastest pace in seven months but remained broadly in line with expectations. Fed funds futures fully price in a 25-basis-point rate cut on September 17, reflecting labor market weakness outweighing inflation concerns. Meanwhile, the Australian dollar has been supported this week by rising prices of key commodity exports, particularly iron ore and gold, gaining 1.6% for the week and ranking among the best-performing G10 currencies. Immediate resistance can be seen at 0.6702(23.6%fib), an upside break can trigger rise towards 0.6720(Higher BB).On the downside, immediate support is seen at 0.6593(Sep 11th low), a break below could take the pair towards 0.6552(38.2%fib).

USD/JPY: The U.S. dollar gained modestly against the yen on Friday   as U.S. dollar recovered following Thursday’s sharp drop on weak jobless claims data.U.S. consumer prices climbed 0.4% in August, marking the sharpest monthly increase in seven months, while separate data showed producer prices unexpectedly declined during the same period. Weekly jobless claims jumped last week, highlighting further weakness in the labor market, after Friday’s employment report showed job growth nearly stalled in August. The Fed is expected to cut rates by 25 bps on Wednesday, with only a small chance of a 50 bps move, CME FedWatch shows. Immediate resistance can be seen at 148.62(50%fib) an upside break can trigger rise towards 148.75(Higher BB) .On the downside, immediate support is seen at  146.95(50%fib)  a break below could take the pair towards 146.43 (Lower BB).

Equities Recap

Asian shares rose Friday, tracking Wall Street gains, as expectations of rapid U.S. rate cuts eased global borrowing costs, supported bond markets, and weighed on the dollar.

South Korea’s KOSPI was up 1.54% ,hang Seng   traded  up 1.14%  ,Japan’s Nikkei 225 was up  0.93%

Commodities Recap

Gold prices climbed on Friday, heading for a fourth consecutive weekly gain, as growing concerns over a weakening U.S. labor market outweighed inflation worries ahead of a widely anticipated Federal Reserve rate cut next week.

Spot gold was up 0.5% at $3,651.92 per ounce, as of 0609 GMT. The contract hovered near a record high of $3,673.95 touched on Tuesday. Bullion has gained 1.8% so far this week.

Oil prices dropped on Friday, extending heavy losses from the previous session, as worries over oversupply and softer U.S. demand outweighed concerns about potential supply disruptions from conflicts in the Middle East and Ukraine.

Brent crude futures fell 55 cents, or 0.83%, to $65.82 a barrel by 0703 GMT, and U.S. West Texas Intermediate crude fell 57 cents, or 0.91%, to $61.80.


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