Posted at 23 September 2025 / Categories Market Roundups
Market Roundup
• US Chicago Fed National Activity (Aug) -0.12, -0.28 previous
• Canada IPPI (YoY) (Aug) 4.0%, 2.6% previous
• Canada IPPI (MoM) (Aug) 0.5%, 0.2%forecast, 0.7% previous
• Canada RMPI (MoM) (Aug) -0.6%, 1.2% forecast, 0.3% previous
• Canada RMPI (YoY) (Aug) 3.2%, 0.7% previous
• French 12-Month BTF Auction 2.048%, 2.046% previous
• French 3-Month BTF Auction 2.007%, 2.007% previous
• French 6-Month BTF Auction 2.027%, 2.027% previous
Looking Ahead Economic Data (GMT)
• No data ahead
• Looking Ahead Events and Other Releases(GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro rose against on Monday as investors digested a barrage of comments from Federal Reserve officials about its latest monetary policy stance. St. Louis Federal Reserve President Alberto Musalem said he supported last week’s rate cut as a precautionary measure to safeguard the job market, but added that there may be limited room for further reductions given that inflation remains above the Fed’s 2% target. The euro zone’s data calendar is relatively light, with highlights including PMIs across Europe, consumer confidence, the ECB’s inflation outlook, and Germany’s Ifo business survey. The euro was up 0.44% at $1.1796, poised to snap three consecutive sessions of losses against the dollar. Immediate resistance can be seen at 1.1786(38.2%fib), an upside break can trigger rise towards 1.1837(Higher BB).On the downside, immediate support is seen at 1.1715(SMA20), a break below could take the pair towards 1.1677(50%fib).
GBP/USD: Sterling edged higher against the U.S. dollar on Monday as investors paused following Friday’s selloff triggered by fiscal concerns. Britain’s borrowing has exceeded official forecasts underpinning the government’s tax and spending plans, adding to the challenges facing Finance Minister Rachel Reeves ahead of her November budget. Meanwhile, investors are also looking ahead to the UK PMI data scheduled for release on Tuesday, which could provide further insight into the health of the British economy. The pound rose 0.2% to $1.3513. Immediate resistance can be seen at 1.3552(38.2%fib), an upside break can trigger rise towards 1.3559(Sep 19th high ).On the downside, immediate support is seen at 1.3415(61.8%fib), a break below could take the pair towards 1.3393(Lower BB).
USD/CAD: The Canadian dollar weakened to a one-week low against its U.S. counterpart on Monday, with the currency giving back much of the previous week's gains ahead of a speech by Bank of Canada Governor Tiff Macklem. The Bank of Canada last Wednesday lowered its benchmark interest rate by 25 basis points to 2.50%, its first cut since March, saying it was less concerned about underlying inflation pressures. Macklem is due to speak on Tuesday on the topic of global trade.The Federal Reserve also eased last Wednesday in its first move this year, but the U.S. central bank signaled less urgency to lower borrowing than some investors had expected. The price of oil , one of Canada's major exports, settled down 0.1% at $62.64 a barrel and Canadian bond yields edged lower across a flatter curve. Immediate resistance can be seen at 1.3848(38.2 %fib), an upside break can trigger rise towards 1.3840(Higher BB).On the downside, immediate support is seen at 1.3791(38.2%fib), a break below could take the pair towards 1.3734(61.8%fib)
USD/JPY: The U.S. dollar edged lower against the yen on Monday, driven by rising expectations of further U.S. rate cuts and continued safe-haven demand amid political uncertainty. Federal Reserve Governor Stephen Miran indicated that the central bank should cut interest rates aggressively to mitigate risks to the economic outlook.Last week, the Fed reduced interest rates by 25 basis points, marking its first cut since December, while signaling a readiness to ease further if needed. Investors are now closely monitoring upcoming Fed speeches and key inflation data for fresh policy guidance, with Friday’s U.S. core personal consumption expenditure (PCE) price report in focus. Immediate resistance can be seen at 148.52(Higher BB) an upside break can trigger rise towards 149.15(38.2%fib) .On the downside, immediate support is seen at 147.52(SMA 20) a break below could take the pair towards 146.52(61.8%fib).
Equities Recap
European stocks slipped on Monday, pressured by automakers despite gains in tech and mining, while Madrid's benchmark closed at its lowest in over a week.
UK's benchmark FTSE 100 closed up by 0.11 percent, Germany's Dax ended down by 0.48 percent, France’s CAC finished the day down by 0.30 percent.
All three major U.S. stock indexes closed at record highs for a third consecutive session on Monday, driven by gains in technology shares. Nvidia led the rally after announcing plans to invest up to $100 billion in OpenAI.
Dow Jones closed up by 0.14% percent, S&P 500 closed up by 0.44% percent, Nasdaq settled up by 0.70 % percent.
Commodities Recap
Gold surged nearly 2% to a record high on Monday, supported by rising expectations of further U.S. rate cuts and ongoing safe-haven demand amid political uncertainty.
Spot gold rose 1.7% to a fresh record high of $3,747.08 per ounce, as of 02:06 p.m. ET (1806 GMT). U.S. gold futures for December delivery settled 1.9% higher at $3,775.10.
Oil prices edged slightly lower on Monday, as concerns over oversupply outweighed geopolitical tensions in Russia and the Middle East.
Brent crude oil futures settled 11 cents, or 0.2%, lower at $66.57 a barrel. The global benchmark has traded between $65.50 and $69 since early August.
U.S. West Texas Intermediate crude (WTI)contract for October , expiring on Monday, closed down at $62.64 a barrel, down 4 cents, or 0.1%