Posted at 25 September 2025 / Categories Market Roundups
Market Roundup
• US Building Permits MoM (Aug): -2.3%, -3.7% forecast, -2.2% previous
•Belgium NBB Business Climate (Sep): -7.9, -8.7 forecast, -8.9 previous
•US New Home Sales MoM (Aug): 20.5%, -1.8% previous
•US New Home Sales (Aug): 800K, 650K forecast, 664K previous
•US Crude Oil Inventories: -0.607M, 0.800M forecast, -9.285M 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 dipped against the dollar on Wednesday as investors digested cautious comments from Federal Reserve Chair Jerome Powell about when the central bank might next cut U.S. Federal Reserve Chair Jerome Powell maintained a cautious tone on Tuesday, emphasizing that the central bank must continue balancing the risks of persistent inflation against a slowing labor market in upcoming policy decisions.Markets are pricing in quarter-point rate cuts at the remaining two Fed meetings this year, with another reduction expected in the first quarter of 2026, consistent with the Fed’s guidance following last week’s policy move.Investor attention this week is focused on U.S. economic data, particularly Friday’s release of the Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation gauge, which will play a key role in shaping expectations for future rate decisions. interest rates. 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 U.S. dollar strengthened, following remarks from Federal Reserve Chair Jerome Powell, who offered little guidance on the future path of interest rates. On Tuesday, Powell emphasized the Fed’s need to balance the risks of persistent inflation against a slowing job market, providing no new clues on the central bank’s policy trajectory.Markets are currently pricing in two additional 25-basis-point rate cuts this year: one in October with a 94% probability and another in December with a 77% probability, according to the CME FedWatch tool.Attention now turns to Thursday’s weekly U.S. jobless claims and Friday’s Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, which are expected to provide further signals on the central bank’s policy outlook..On the geopolitical front, Ukraine's military said on Wednesday it struck two oil pumping stations overnight in Russia's Volgograd region. 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-month low against its U.S. counterpart on Wednesday as broad-based gains for the greenback offset higher oil prices.The price of oil was up 1.9% as U.S. crude inventory data added to a sense in the market of tightening supplies. Oil is one of Canada's major exports.Canadian factory sales fell 1.5% in August from July, largely driven by lower sales in the transportation equipment as well as the food product subsectors, preliminary data showed.July GDP data, due on Friday, could offer additional clues on the state of the Canadian economy which has been buffeted by trade uncertainty. The loonie was trading 0.4% lower at 1.3885 per U.S. dollar, after touching its weakest intraday level since August 22 at 1.3896 .Immediate resistance can be seen at 1.3910 (Higher BB), an upside break can trigger rise towards 1.3926(Higher BB).On the downside, immediate support is seen at 1.3833(Daily low), a break below could take the pair towards 1.3704 (Lower BB).
USD/JPY: The U.S. dollar rose higher on Wednesday as investors digested cautious comments from Federal Reserve Chair Jerome Powell about when the central bank might next cut U.S. interest rates.In his first remarks since the Fed meeting ended with a rate cut last week, Powell on Tuesday underlined the need for policymakers to balance the competing risks of high inflation and a weaker jobs market in their next monetary policy decisions.Wednesday's data showed sales of new U.S. single-family homes surged in August by 20.5% to a seasonally adjusted annualized rate of 800,000 units. Economists polled by Reuters had forecast a drop to 650,000 units. July sales were revised upward to 664,000 units from the 652,000 previously reported. 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 edged lower Wednesday as gains in commodities and defense were offset by weakness in healthcare and luxury sectors, amid investor focus on Fed Chair Powell’s comments.
UK's benchmark FTSE 100 closed up by 0.29 percent, Germany's Dax ended up by 0.23 percent, France’s CAC finished the day down by 0.57 percent.
Wall Street slipped as investors weighed cautious remarks from Fed Chair Powell on the timing of the next U.S. rate cuts.
Dow Jones closed down by 0.37 %percent, S&P 500 closed down by 0.28% percent, Nasdaq settled down by 0.33 % percent.
Commodities Recap
Oil prices rose nearly 3% to a seven-week high on Wednesday, boosted by an unexpected drop in U.S. crude inventories and supply concerns linked to export disruptions in Iraq, Venezuela, and Russia.
Brent futures rose $1.68, or 2.5%, to settle at $69.31 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose $1.58, or 2.5%, to settle at $64.99.
Gold prices dipped on Wednesday as the U.S. dollar strengthened, retreating from the record highs reached in the previous session, while investors awaited key economic data later in the week for signals on the Fed’s policy outlook.
Spot gold fell 0.8% to $3,734.58 per ounce, as of 01:56 p.m. ET (1756 GMT), after hitting a record high of $3,790.82 on Tuesday.U.S. gold futures for December delivery settled 1.2% lower at $3,768.1.