Posted at 10 October 2025 / Categories Market Roundups
Market Roundup
• Canada Avg hourly wages Permanent employee (Sep) 3.6%, 3.6% previous
• Canada Employment Change (Sep) 60.4K, 2.8Kforecast,-65.5K previous
• Canada Full Employment Change (Sep) 106.1K, -6.0K previous
• Canada Part Time Employment Change (Sep) -45.6K,-59.7K previous
• Canada Participation Rate (Sep) 65.2%,65.1% previous
• Canada Unemployment Rate (Sep7.1%,7.2% forecast,-7.1% previous
•US Michigan 1-Year Inflation Expectations (Oct) 4.6%, 4.7% previous
•US Michigan 5-Year Inflation Expectations (Oct) 3.7%, 3.7% previous
•US Michigan Consumer Sentiment (Oct) 55.0, 54.1forecast,55.1 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 rebounded sharply against the dollar on Friday as investors reacted to President Donald Trump’s threat of a “massive increase” in tariffs on Chinese imports. Trump also said there was no reason to meet with Chinese President Xi Jinping in two weeks as planned, prompting a sell-off in the dollar. Earlier this week, China tightened restrictions on exports of key rare earth materials and, separately on Friday, announced it would impose additional port fees on U.S. ships starting October 14. The escalation rattled markets and heightened concerns over further strains in the already fragile relationship between the world’s two largest economies. Markets have remained on edge since Trump’s April 2 “Liberation Day” tariff announcement, as his erratic trade policy and stop-start negotiations continue to fuel volatility across global assets. Immediate resistance can be seen at 1.1612(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 bounced back from a two-month low as the U.S. dollar softened following President Donald Trump’s announcement that he is considering a “massive increase” in tariffs on Chinese goods. Trump also indicated there was no need to meet with China’s President Xi Jinping in South Korea in two weeks as originally planned, posting on Truth Social that the U.S. is planning a significant tariff hike on Chinese imports. The move risks reigniting a destabilizing tit-for-tat trade war that Washington and Beijing had temporarily paused after months of careful diplomacy earlier this year. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.41% to 98.98.Immediate resistance can be seen at 1.3417(50%fib), an upside break can trigger rise towards 1.3465(SMA 20).On the downside, immediate support is seen at 1.3255(61.8%fib), a break below could take the pair towards 1.32419(Lower BB).
USD/CAD: The Canadian dollar strengthened against the U.S. dollar on Friday after domestic jobs data exceeded expectations, easing bets on an additional Bank of Canada rate cut this month. However, gains were limited as oil prices declined. Canada added 60,400 jobs in September, almost fully offsetting the prior month’s losses, while the unemployment rate remained steady at 7.1%, compared with economists’ forecast of a 5,000-job increase. Following the data, investors now assign roughly a 50% probability to a BoC rate cut at its October 29 meeting, down from 72% before the report. The central bank reduced its benchmark rate by 25 basis points last month to 2.50%, its first cut since March, aiming to support an economy challenged by ongoing trade uncertainties. The loonie was trading 0.1% higher at 1.40 per U.S. dollar, or 71.43 U.S. cents, after touching its weakest level since April 10 at 1.4034.Immediate resistance can be seen at 1.4052(23.6 %fib), an upside break can trigger rise towards 1.4090(Higher BB).On the downside, immediate support is seen at 1.3939(38.2 %fib), a break below could take the pair towards 1.3893(SMA 20).
USD/JPY: The dollar slipped against the yen on Friday after U.S. President Donald Trump threatened to raise tariffs on China, reviving concerns over the trade war’s potential impact on the U.S. economy. Trump also suggested he might cancel a scheduled meeting with Chinese President Xi Jinping and criticized China on social media for what he described as efforts to hold the global economy “hostage,” following Beijing’s sharp expansion of rare earth export controls on Thursday. The remarks boosted the euro and yen against the dollar, while commodity-linked currencies, including the Australian dollar, came under pressure. The Japanese currency has dropped this week onconcerns that the Bank of Japan may not hike interest rates again this year after fiscal dove Sanae Takaichi's surprise victory. Immediate resistance can be seen at 152.71(38.2%fib) an upside break can trigger rise towards 153.68 (Higher BB) .On the downside, immediate support is seen at 151.03 (50%fib) a break below could take the pair towards 149.15 (61.8%fib).
Equities Recap
European equities fell sharply on Friday, erasing earlier gains as Trump’s latest tariff threats revived trade war concerns and unsettled investors already watching political uncertainty in France.
UK's benchmark FTSE 100 closed down by 0.86 percent, Germany's Dax ended down by 1.50 percent, France’s CAC finished the day down by 1.53percent.
Wall Street fell on Friday as Trump intensified the U.S.-China trade conflict following Beijing’s tighter rare earth restrictions.
Dow Jones closed down by 1.90 percent, S&P 500 ended down by 2.71 percent, Nasdaq finished the day down by 3.56 percent.
Commodities Recap
Gold trimmed some gains on Friday after briefly topping $4,000 an ounce for the second time this week, as Trump’s warning of potential new tariffs on China fueled a rush to safe-haven assets.
Spot gold was up 0.4% at $3,989.49 per ounce as of 1:40 p.m. ET (1740 GMT). The metal logged a 2.7% gain this week.
Brent and U.S. crude futures dropped over $2 a barrel, or more than 3%, on Friday as Trump’s threat of higher tariffs on China clouded the demand outlook in an already oversupplied market.
Brent crude futures settled at $62.73 a barrel, down $2.49, or 3.82%, the lowest since May 5.
U.S. West Texas Intermediate crude finished at $58.90 a barrel down $2.61, or 4.24%, the lowest since early May.