Posted at 10 October 2025 / Categories Market Roundups
Market Roundup
• New Zealand Business NZ PMI (Sep) 49.9, 49.9 previous
•Japan Bank Lending (YoY) (Sep) 3.8%, 3.7%forecast,3.5% previous
•Japan PPI (MoM) (Sep) 0.3% 0.1% forecast,-0.2% previous
•Japan PPI (YoY) (Sep) 2.7%,2.5% forecast,2.7% previous
Looking Ahead Economic Data(GMT)
• 08:00 Italian Industrial Production (YoY) (Aug) 0.5% forecast,0.9% previous
• 08:00 Italian Industrial Production (MoM) (Aug) -0.3% forecast, 0.4% previous
•09:00Greek Industrial Production (YoY) (Aug) -0.5% previous
Looking Ahead Events And Other Releases(GMT)
• 10:00 EU ECOFIN Meetings
Currency Forecast
EUR/USD : The euro hovered near a two-month low against the U.S. dollar on Friday as France’s ongoing political turmoil continued to pressure the currency. Lecornu tendered his and his government's resignation on Monday, hours after announcing the cabinet line-up, making it the shortest-lived administration in modern France. French President Emmanuel Macron was on Thursday searching for his sixth prime minister in under two years, hoping his next pick can steer a budget through a legislature riven by crisis.The political paralysis has made it deeply challenging to pass a belt-tightening budget, demanded by investors increasingly worried by France's yawning deficit.Lecornu said he had told Macron the next prime minister must not be associated with the president's political movement and hold no ambitions for presidential elections scheduled for 2027. Immediate resistance can be seen at 1.16612(38.2%fib), an upside break can trigger rise towards 1.1663(50%fib).On the downside, immediate support is seen at 1.1558(50%fib), a break below could take the pair towards 1.1538(Lower BB)
GBP/USD: The pound eased on Friday amid cautious sentiment over the Bank of England’s (BoE) monetary policy stance. BoE policymaker Catherine Mann said on Thursday that policy must remain restrictive for longer to foster an environment conducive to growth. She added that inflation remains persistent and the growth outlook is modest.Meanwhile, Britain’s labor market continues to show signs of weakness. Hiring remains sluggish and pay growth stagnant, as employers express concern over potential further tax increases in Finance Minister Rachel Reeves’ November budget, according to a survey of recruitment firms released Friday. Vacancies fell, particularly in retail and hospitality, sectors hit hard by Reeves’ decision last year to raise employers’ social security contributions in her first budget. Immediate resistance can be seen at 1.3500(SMA 20), an upside break can trigger rise towards 1.3530(38.2%fib).On the downside, immediate support is seen at 1.3344(50%fib), a break below could take the pair towards 1.3309(Lower BB).
NZD/USD: The New Zealand dollar hovered near a six-month low on Friday, weighed down by the RBNZ’s dovish policy. On Wednesday, the central bank surprised markets with a larger-than-expected 50 basis point rate cut, lowering the Official Cash Rate (OCR) to 2.5%. Since August 2024, the RBNZ has trimmed rates by a total of 300 basis points. With inflation now within the 1%–3% target range, policymakers have scope to ease borrowing costs further. Markets are currently pricing in an 80% chance of a 25-basis-point cut at the November meeting, with roughly even odds that the OCR could fall to 2.0% by next year .Immediate resistance can be seen at 0.5800(38.2%fib), an upside break can trigger rise towards 0.5856(50%fib).On the downside, immediate support is seen at 0.05734 (23.6%fib), a break below could take the pair towards 0.5708(Lower BB).
USD/JPY: The dollar eased modestly against the yen on Friday as markets focused on Takaichi’s fiscal policies and the BOJ’s stance. Takaichi, poised to become Japan’s first female prime minister, said Thursday that while the central bank is responsible for monetary policy, its actions should align with government priorities. A proponent of expansionary fiscal and monetary measures, she has stressed the need to reflate the economy, with her immediate focus on steps to ease the burden of rising living costs on households.The yen was set for its steepest weekly decline in a year on Friday, following Takaichi’s surprise victory, which dampened expectations of a near-term rate hike. On the data front, Japan’s wholesale prices rose 2.7% year-on-year in September, unchanged from August, highlighting persistent cost pressures that could keep the central bank under pressure to raise rates. Immediate resistance can be seen at 153.30(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).
EquitiesRecap
Asian stocks ended the week on a weak note Friday, following Wall Street declines and as commodity markets paused after their recent rally.
Hang Seng was down 1.73% ,China’sA50 traded down 1.87% ,Japan’s Nikkei 225 was down 1.02 %
Commodities Recap
Gold hovered below the key $4,000-an-ounce mark on Friday, poised for an eighth straight weekly gain amid ongoing geopolitical and economic concerns and rising bets on further U.S. rate cuts.
Spot gold was flat at $3,974.99 per ounce, as of 0637 GMT, but has climbed 2.2% so far this week. U.S. gold futures for December delivery rose 0.3% to $3,985.8.
Oil prices fell on Friday, following a 1.6% drop in the previous session, as the market’s risk premium eased after Israel and Hamas agreed on the first phase of a Gaza ceasefire plan.
Brent crude futures were down 24 cents, or 0.4%, at $64.98 a barrel by 0636 GMT. U.S. West Texas Intermediate crude fell 20 cents, or 0.3%, to $61.31.