Posted at 10 October 2025 / Categories Market Roundups
Market Roundup
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Currency Forecast
EUR/USD : The euro slipped against the U.S. dollar on Thursday as shifting political landscapes in France pressured the euro .Prime Minister Sebastian Lecornu tendered his resignation to President Emmanuel Macron just hours after unveiling his cabinet, marking the shortest-lived government in modern French history.President Emmanuel Macron asked his outgoing prime minister, who had resigned earlier in the day, to lead urgent talks with other parties to resolve the crisis, Politics may continue to be an issue for the euro with European Commission President Ursula von der Leyen facing renewed no-confidence bids this week. It is down almost 1% this week so far. The single currency was last down 0.61% at $1.1555 and reached $1.1545, the lowest since August 5. The dollar index gained 0.62% to 99.47, the highest since August 1.Immediate resistance can be seen at 1.16645(Daily high), an upside break can trigger rise towards 1.1667(38.2%fib).On the downside, immediate support is seen at 1.1537(50%fib), a break below could take the pair towards 1.1453(June 23rd low)
GBP/USD: The pound fell to a two-week low on Thursday as the U.S. dollar strengthened on safe-haven demand. The U.S. government shutdown entered its ninth day with little sign of progress, leaving markets without key economic data. With the third-quarter earnings season just days away, the lack of fresh catalysts has turned investor focus toward central bank commentary for clues on future rate cuts.Meanwhile, Bank of England policymaker Catherine Mann said inflation expectations in the U.K. remain elevated, emphasizing that interest rates must continue to exert downward pressure on prices. Last month, Mann joined the majority of the Monetary Policy Committee in keeping the Bank’s benchmark rate unchanged, though she was among the minority opposing a cut to 4% in August.Immediate resistance can be seen at 1.3425(50%fib), an upside break can trigger rise towards 1.3482(Oct 6th high).On the downside, immediate support is seen at 1.3283(50%fib), a break below could take the pair towards 1.3145(Aug 1st low).
USD/CAD: The Canadian dollar fell to a near six-month low against its U.S. counterpart on Thursday, as the greenback strengthened on safe-haven demand ahead of key domestic jobs data that could bolster expectations for further Bank of Canada rate cuts.The U.S. dollar extended its gains this week against a basket of major currencies, supported by concerns over Japan’s looser monetary stance and political turmoil in France.Oil prices, a key Canadian export, declined 1.8% to $61.43 a barrel after Israel and Hamas reached a ceasefire agreement in Gaza.Canada’s September employment report, due Friday, is expected to show a modest gain of 5,000 jobs, with the unemployment rate rising to 7.2%. Immediate resistance can be seen at 1.4040 (23.6%fib), an upside break can trigger rise towards 1.4055 (Higher BB).On the downside, immediate support is seen at 1.3962(38.2%fib), a break below could take the pair towards 1.3903 (50%fib).
USD/JPY: The U.S. dollar extended gains on Thursday as the yen weakened as the newly elected leader of Japan's ruling party Sanae Takaichi failed to instill confidence in the market about the direction of the currency.Takaichi said she did not want to trigger excessive declines in the yen, which led to a brief rally, before the currency weakened back to its lows of the day.Takaichi said that the country's central bank is responsible for setting monetary policy but that any decision it makes must align with the government's goal.The yen has tumbled this week on concerns that Takaichi will introduce more fiscally expansive policies.The dollar was last up 0.27% at 153.09 yen after earlier reaching 153.23, the highest since February 13. Immediate resistance can be seen at 153.34(Daily high) an upside break can trigger rise towards 154.00 (Psychological level) .On the downside, immediate support is seen at 152.44 (Daily low) a break below could take the pair towards 152.15 (38.2%fib).
Equities Recap
European stocks declined on Thursday, weighed down by sharp losses in HSBC and Ferrari, pulling the STOXX index off its record highs as investors remained cautious amid France’s escalating political turmoil.
UK's benchmark FTSE 100 closed down by 0.41 percent, Germany's Dax ended up by 0.05 percent, France’s CAC finished the day down by 0.23 percent.
U.S. stocks closed lower on Thursday as investors, lacking fresh economic data or market-moving catalysts, opted to consolidate positions ahead of the third-quarter earnings season.
Dow Jones closed down by 0.52% percent, S&P 500 closed down by 0.28% percent, Nasdaq settled down by 0.08% percent.
Commodities Recap
Gold prices fell 2% on Thursday, slipping back below the $4,000/oz mark breached for the first time in the previous session, as a stronger dollar and profit-taking followed news of a ceasefire deal between Israel and Hamas.
Spot gold fell nearly 2% to $3,959.48 per ounce by 01:53 p.m. ET (17:53 GMT). U.S. gold futures for December delivery fell 2.4% to settle at $3,972.6.
Oil prices settled lower on Thursday after Israel and the Palestinian militant group Hamas reached a ceasefire agreement in Gaza.
Brent crude futures closed down $1.03, or 1.6%, at $65.22 a barrel. U.S. West Texas Intermediate crude was down $1.04, or 1.7%, at $61.51.