Posted at 24 September 2025 / Categories Market Roundups
Market Roundup
• Japan Manufacturing & Services PMI (MoM) (Sep) 51.10%, 52.00% previous
• Japan au Jibun Bank Manufacturing PMI (Sep) 48.4,49.5 forecast,49.7 previous
• Japan au Jibun Bank Services PMI (Sep) 53.0, 53.1 previous
• Australia Weighted mean CPI (YoY) (Aug)3.00%,2.90% forecast,2.80% previous
Looking Ahead Economic Data (GMT)
• 08:00 Swiss ZEW Expectations (Sep) -53.8 previous
• 08:00 German Business Expectations (Sep) 92.0 forecast,91.6 previous
• 08:00 German Current Assessment (Sep) 86.5 forecast,86.4 previous
• 08:00 German Ifo Business Climate Index (Sep) 89.3 forecast,89.0 previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro dipped against the dollar on Wednesday as the greenback strengthened, with Fed Chair Jerome Powell offering little guidance on the future path of interest rates. Fed Chair Jerome Powell said on Tuesday that the central bank must continue balancing the competing risks of high inflation and a weakening labor market, even as colleagues voiced differing views on policy. Markets are pricing in quarter-point rate cuts at each of the remaining two Federal Reserve policy meetings this year. Meanwhile, investors now await U.S. weekly initial jobless claims on Thursday and the Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, on Friday. 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: The pound dipped on Wednesday as the greenback firmed as remarks by Federal Reserve Chair Jerome Powell gave little indication about the future path of interest rates. Powell stressed balancing inflation and labor market concerns in rate decisions, noting differences among Fed colleagues.Traders have ramped up bets on further easing, with Fed funds futures implying a 93% chance of a rate cut at the U.S. central bank's October meeting, up from a 89.8% probability on Tuesday.U.S. economic data released on Tuesday stoked growth concerns, with purchasing managers' index (PMI) data from S&P Global showing U.S. business activity slowed for a second straight month in September. 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).
AUD/USD: The Australian dollar slipped against the U.S. dollar on Wednesday after data showed Australia’s business activity growth slowed in September. Australia’s business activity slowed in September, weighed by weaker orders and export pressure, a survey showed.A private survey on Tuesday showed Australia’s business activity slowed in September due to weaker orders and export pressure.The S&P Global Flash Composite PMI slipped to 52.1 in September from 55.5 in August, but remained above 50, signaling growth for the 12th month in a row.The services index eased to 52.0 from 55.8, while the manufacturing PMI fell to 51.6 from 53.0 as output growth weakened.. Immediate resistance can be seen at 0.6661(Sep18th high), an upside break can trigger rise towards 0.6702(23.6%fib).On the downside, immediate support is seen at 0.6580(SMA 20), a break below could take the pair towards 0.6555(38.2%fib).
USD/JPY: The U.S. dollar traded in a narrow range on Wednesday as investors assessed Federal Reserve officials’ comments for hints on the future direction of interest rates. On Monday, new Fed Governor Stephen Miran, appointed by President Trump, advocated for significant rate cuts, while three of his colleagues expressed caution over inflation risks.The main event later will be Fed Chair Jerome Powell who gets to speak on the economic outlook and takes questions on policy - that's at 1235 EDT/1635 GMT. Traders have scaled back expectations for interest rate cuts at the Federal Open Market Committee’s October meeting. Fed funds futures, according to CME Group’s FedWatch tool, now imply a 10.2% chance of a rate hold, up from 8.1% on Friday. 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
Asian stocks rebounded on Wednesday, recovering from earlier Wall Street-led losses as renewed enthusiasm for artificial intelligence and semiconductors fueled China’s tech-led rally.
China A50 was up 0.51% , Hang Seng was up 1.31 Japan’s Nikkei 225 was up 0.34%
Commodities Recap
Gold edged higher Wednesday, near record levels, as rate-cut expectations lingered despite Powell’s cautious tone and ongoing geopolitical risks.
Spot gold rose 0.3% to $3,776.29 per ounce as of 0609 GMT on Wednesday.U.S. gold futures for December delivery edged down 0.2% to $3,808.
Oil prices were broadly stable on Wednesday as an industry report showed U.S. crude inventories fell last week, reinforcing market expectations of tightening supplies.
Brent futures rose 3 cents to $67.66 a barrel by 0630 GMT. U.S. West Texas Intermediate crude futures gained 5 cents at $63.46.