Posted at 13 September 2025 / Categories Market Roundups
Market Roundup
• Canada Building Permits (MoM) (Jul): -0.1%, 3.7% forecast, -9.0% previous
• Canada Capacity Utilization Rate (Q2): 79.3%, 78.8% forecast, 79.9% previous
•US Michigan 1-Year Inflation Expectations (Sep): 4.8%, 4.8% forecast, 4.8% previous
•US Michigan 5-Year Inflation Expectations (Sep): 3.9%, 3.4% forecast, 3.5% previous
•US Michigan Consumer Expectations (Sep): 51.8, 54.9 forecast, 55.9 previous
•US Michigan Consumer Sentiment (Sep): 55.4, 58.2 forecast, 58.2 previous
•US Michigan Current Conditions (Sep): 61.2, 61.3 forecast, 61.7 previous
•USD U.S. Baker Hughes Oil Rig Count: 416, 414 previous
Looking Ahead Economic Data Releases
•No data Ahead
Looking Ahead Events and Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro edged lower on Friday as the dollar recovered from Thursday’s drop, when a surge in U.S. jobless claims and a modest rise in inflation reinforced expectations for Federal Reserve rate cuts next week and beyond. Data showed jobless claims posting their largest weekly increase in four years, overshadowing August CPI, which rose at the fastest pace in seven months but remained modest and broadly in line with forecasts. Meanwhile, Credit rating agency Fitch downgraded France’s sovereign rating on Friday to a record low, cutting the eurozone’s second-largest economy from AA- to A+ amid a political crisis and rising debt .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 down against the dollar on Friday after data showed the UK economy stalled in July. GDP was flat on the month, with manufacturing output plunging 1.3%, its sharpest drop in a year, driven by weakness in computers, electronics, and pharmaceuticals, according to the Office for National Statistics. The services sector, which dominates the economy, grew 0.1%, a touch stronger than forecasts. Compared with a year earlier, GDP was up 1.4%, steady from June but just below the 1.5% growth expected. Meanwhile, separate data showed the UK goods trade deficit widened to £22.244 billion ($30.2 billion) in July, the largest since January 2022, compared with £22.156 billion in June.. 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).
USD/CAD: The Canadian dollar edged lower against its U.S. counterpart on Friday and a market measure of expected volatility slumped to its lowest level in one year, as investors awaited next week's interest rate decisions by the Bank of Canada and the Federal Reserve.The Canadian central bank will cut its benchmark interest rate by a quarter point on Wednesday as the labor market deteriorates and economic activity weakens, according to most economists in a Reuters poll, who also expect at least one more cut next quarter. A rate cut by the Fed is also expected on Wednesday.Canadian industries ran at 79.3% of capacity in the second quarter of 2025, from a downwardly revised 79.9% in the first quarter.The price of oil , one of Canada's major exports, rose 0.3% to $62.58 a barrel after a Ukrainian drone attack on one of Russia's largest oil and fuel export terminals. Immediate resistance can be seen at 1.3877(50%fib), an upside break can trigger rise towards 1.3934(Higher BB).On the downside, immediate support is seen at 1.3826(SMA 20), a break below could take the pair towards 1.3754(38.2%fib).
USD/JPY: The U.S. dollar strengthened 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
European shares ended the week on a strong note but slipped slightly on Friday as investors grew cautious ahead of Fitch’s credit rating decision on France scheduled later in the day.
UK's benchmark FTSE 100 closed down by 0.15 percent, Germany's Dax ended down by 0.02percent, France’s CAC finished the day up by 0.02 percent.
The Nasdaq surged to a record Friday close, lifted by Microsoft shares, as investors brace for the Fed’s likely interest rate cut amid a cooling labor market.
Dow Jones closed down by 0.59 %percent, S&P 500 closed down by 0.05 % percent, Nasdaq settled up by 0.44% percent.
Commodities Recap
Gold prices climbed on Friday, remaining near the record highs reached earlier this week, as a softening U.S. labor market strengthened expectations that the Federal Reserve will implement its first rate cut of the year next week.
Spot gold rose 0.4% to $3,648.55 per ounce as of 02:25 p.m. EDT (1825 GMT), nearing Tuesday’s all-time high of $3,673.95. The metal has gained 1.7% this week and is set for a fourth straight weekly advance.
Oil prices rose on Friday following a Ukrainian drone attack that halted shipments from Russia’s largest western port, though gains were limited by worries over slowing U.S. demand.
Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S. West Texas Intermediate crude finished at $62.69, a gain of 32 cents, or 0.51%.