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
•Japan BoJ Core CPI (YoY) 2.0%, 1.9% forecast, 2.0% previous
•Swiss ZEW Expectations (Sep) -46.4,-53.8 previous
•German Business Expectations (Sep) 89.7,92.0 forecast, 91.4 previous
•German Current Assessment (Sep) 85.7,86.5 forecast, 86.4 previous
•German Ifo Business Climate Index (Sep) 87.7,89.3 forecast, 88.9 previous
Looking Ahead Economic Data (GMT)
•13:00 Belgium NBB Business Climate (Sep) -8.7 forecast, -8.9 previous
•14:00 US New Home Sales (MoM) (Aug) -0.6% previous
•14:00 US New Home Sales (Aug) 650K forecast, 652K previous
•14:30 US Crude Oil Inventories -9.285M previous
•14:30 US Crude Oil Imports -3.111M previous
•14:30 US Cushing Crude Oil Inventories -0.296M previous
Looking Ahead Events And Other Releases (GMT)
•20:10 US FOMC Member Daly Speaks
Currency Forecast
EUR/USD : The euro slipped against the dollar on Wednesday as the greenback firmed, after Fed Chair Jerome Powell offered little clarity on the future path of interest rates. Powell said on Tuesday the central bank must balance the risks of elevated inflation with a weakening labor market, even as Fed officials voiced differing views on policy. Markets are currently pricing in quarter-point rate cuts at each of the Fed’s two remaining 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 said that the Fed would continue to balance concerns over labour market weakness with worries about inflation, while central bank officials took stances on both sides of the monetary policy path divide.Investors are now looking ahead to the U.S. Personal Consumption Expenditures index, the Fed's preferred inflation gauge, on Friday for further cues on potential rate cuts.Market participants are pricing in two more 25-basis-point cuts this year, one each in October and December, with 94% and 77% probability, respectively, the CME FedWatch tool, opens new tab shows. 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 strengthened against the U.S. dollar on Wednesday after hotter-than-expected headline CPI readings dampened expectations of aggressive monetary easing by the Reserve Bank of Australia (RBA).Australian consumer prices rose in August at the fastest annual pace in a year, but softer core inflation kept alive prospects for another RBA rate cut.Data from the Australian Bureau of Statistics on Wednesday showed the monthly consumer price index (CPI) rose 3.0% in August from a year earlier, up from 2.8% in July and slightly above forecasts of 2.9%, with the uptick largely driven by base effects.Australia’s trimmed mean inflation slowed to 2.6% in August from 2.7% in July, but the gauge excluding volatile items and holiday travel quickened to 3.4% from 3.2%. Immediate resistance can be seen at 0.6628(Sep25th high), an upside break can trigger rise towards 0.6706(23.6%fib).On the downside, immediate support is seen at 0.6594SMA 20), a break below could take the pair towards 0.6566(38.2%fib).
USD/JPY: The U.S. dollar rose on Wednesday after Federal Reserve Chair Jerome Powell stopped short of confirming investors' expectations of a looming slide in U.S. interest rates. Powell, in remarks on Tuesday, largely stuck to the language used last week when the central bank cut its benchmark rate by a quarter of a percentage point. He underlined the need for policymakers to balance the competing risks of high inflation and a weaker jobs market in upcoming monetary policy decisions. Traders have raised their bets on further U.S. rate cuts, with Fed funds futures implying a 91.9% chance of a cut at the central bank's October meeting, up from a 89.8% probability on Tuesday, according to the CME Group's FedWatch tool. Immediate resistance can be seen at 148.52(Daily high) 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 146.56(Lower BB).
Equities Recap
European shares fell on Wednesday, led by losses in financials and tracking Wall Street declines after Fed Chair Jerome Powell’s remarks, though gains in defence stocks helped cap the downside.
At GMT (12:30) UK's benchmark FTSE 100 was last trading up at 0.05 percent, Germany's Dax was up by 0.09 percent, France’s CAC was down by 0.64 percent.
Commodities Recap
Oil prices climbed more than 1% on Wednesday after an industry report showed a decline in U.S. crude inventories last week, reinforcing concerns over tightening supplies amid export issues in Kurdistan and Venezuela, as well as disruptions to Russian shipments.
Brent futures were up 77 cents, or 1.1%, to $68.40 a barrel at 1215 GMT. U.S. West Texas Intermediate crude futures were up 75 cents, or nearly 1.2%, to $64.16.
Gold prices steadied on Wednesday, holding near the previous day’s record high, as expectations of further U.S. rate cuts and geopolitical uncertainty supported safe-haven demand.
Spot gold was steady at $3,762.73 per ounce, as of 1103 GMT, after hitting a record high of $3,790.82 on Tuesday.