Posted at 03 October 2025 / Categories Market Roundups
Market Roundup
• Canada Services PMI (Sep) 46.30, 48.60 previous
•US S&P Global Composite PMI (Sep) 53.9, 53.6 forecast,54.6 previous
•US S&P Global Services PMI (Sep )54.2, 53.9 forecast,54.5 previous
•US ISM Non-Manufacturing Business Activity (Sep) 49.9, 51.8 forecast,55.0 previous
•US ISM Non-Manufacturing Employment (Sep) 47.2, 46.6 forecast,46.5 previous
•US ISM Non-Manufacturing New Orders (Sep) 50.4, 54.0 forecast, 56.0 previous
•US ISM Non-Manufacturing PMI (Sep) 50.0, 51.8 forecast,52.0 previous
•US ISM Non-Manufacturing Prices (Sep) 69.4,68.0 forecast,69.2 previous
•US Baker Hughes Oil Rig Count 422, 424 previous
•US Baker Hughes Total Rig Count 549, 549 previous
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Events and Other Releases(GMT)
• No Events Ahead
Currency Summaries
EUR/USD : The euro edged higher against the U.S. dollar on Friday after data indicated a modest pickup in Eurozone services growth in September. According to S&P Global, the HCOB Eurozone Services PMI Business Activity Index rose to 51.3 from 50.5 in August, marking the fourth consecutive month of expansion, with readings above 50 signaling growth.The improvement was broadly felt across the bloc, with moderate growth in Germany, Italy, and Spain, although France continued to struggle amid political uncertainty affecting its service sector. Hiring remained largely stalled, reflecting only a limited boost in overall demand.Markets also focused on central bank commentary, with several Fed, ECB, and Bank of England officials scheduled to speak at the farewell symposium for Dutch central bank governor Klaas Knot, including ECB President Christine Lagarde and BoE Governor Andrew Bailey. Immediate resistance can be seen at 1.1734(SMA 20), an upside break can trigger rise towards 1.1769(38.2%fib).On the downside, immediate support is seen at 1.1665(50%fib), a break below could take the pair towards 1.1590(61.8%fib)
GBP/USD: The pound edged higher on Friday as traders digested UK business activity data and remarks from Bank of England governor Andrew Bailey.Bank of England Governor Andrew Bailey cautioned on Friday against easing financial regulations as memories of past crises fade, stressing the need for central banks to remain vigilant to emerging risks.Bailey stated that he did not believe stricter post-2008 banking regulations in Britain were responsible for low investment and sluggish productivity growth in subsequent years.British factory activity fell at the fastest pace in five months in September, weighed down by weak domestic demand and fewer export orders, a survey showed.Traders are betting on no change to interest rates at the BoE's next meeting on November 6, and on a further two cuts next year Immediate resistance can be seen at 1.3478(50%fib), an upside break can trigger rise towards 1.3505(SMA 20).On the downside, immediate support is seen at 1.3328(61.8%fib), a break below could take the pair towards 1.3311(Lower BB).
USD/CAD: The Canadian dollar inched higher against the U.S. dollar on Friday as oil prices rose, though the currency remained on track for a weekly decline. Oil, a key Canadian export, traded 1% higher at $61.06 a barrel but was also set for a weekly loss, with eight OPEC+ countries expected to boost output further on Sunday.Canada’s services sector contracted more sharply in September, as businesses cut jobs and outstanding work fell to a five-year low, according to S&P Global’s Canada Services PMI. Meanwhile, Canadian Prime Minister Mark Carney is scheduled to meet U.S. President Donald Trump on Tuesday in Washington to discuss economic and security matters, as the two countries review their North American trade agreement. The loonie was trading 0.1% higher at 1.3955 per U.S. dollar after trading in a range of 1.3940 to 1.3969. Immediate resistance can be seen at 1.3852 (23.6%fib), an upside break can trigger rise towards 1.3900 (Psychological level).On the downside, immediate support is seen at 1.3801 (5 SMA), a break below could take the pair towards 1.3791(38.2%fib).
USD/JPY: The U.S. dollar strengthened on Friday as traders mulled the Bank of Japan's next move ahead of a ruling party leadership election this weekend. BOJ Governor Kazuo Ueda struck a cautious tone in comments about the global economy, lowering expectations of an imminent rate hike. Markets were also focused on a Liberal Democratic Party election on Saturday that will determine Japan's next prime minister.The LDP election has consequences for Japan's budget and central bank policies.Among the front-runners, dovish party veteran Sanae Takaichi could trigger more bond market uncertainty, while farm minister Shinjiro Koizumi and top government spokesperson Yoshimasa Hayashi are less likely to rock the boat.on the data front, The Institute for Supply Management said its non-manufacturing purchasing managers' index (PMI) fell to 50 last month, the breakeven level between growth and contraction, from 52.0 in August. Economists polled by Reuters had forecast the services PMI easing to 51.7. Immediate resistance can be seen at 147.38(38.2%fib) an upside break can trigger rise towards 149.92(Higher BB) .On the downside, immediate support is seen at 148.28(50%fib) a break below could take the pair towards 147.97(SMA20).
Equities Recap
European stocks posted their strongest weekly gain in five months on Friday, led by healthcare and mining sectors, as growing expectations of a Federal Reserve rate cut lifted market sentiment.
UK's benchmark FTSE 100 closed up by 0.67 percent, Germany's Dax ended down by 0.18 percent, France’s CAC finished the day up by 0.31percent.
The S&P 500 closed at a record high on Friday despite a volatile session, supported by expectations of interest rate cuts as the U.S. government shutdown entered its third day.
Dow Jones closed up by 0.51% percent, S&P 500 closed up by 0.01% percent, Nasdaq settled down by 0.28% percent.
Commodities Recap
Gold edged higher on Friday, staying near record levels and poised for a seventh straight weekly gain amid concerns over a prolonged U.S. government shutdown and potential rate cuts.
Spot gold rose 0.7% to $3,884.19 per ounce by 01:40 p.m. ET (1749 GMT), after hitting a record high of $3,896.49 on Thursday.
Oil prices settled higher on Friday but posted a weekly loss of 8.1% after news of potential increases to OPEC+ supply.
Brent crude futures closed up 42 cents, or 0.7%, at $64.53 a barrel by, while U.S. West Texas Intermediate crude was up 40 cents, or 0.7%, at $60.88.For the week, Brent fell 8.1%, the largest weekly loss in over three months. WTI tumbled 7.4% in the week.