Posted at 05 May 2026 / Categories Market Roundups
Market Roundup
•Swiss CPI (MoM) (Apr): 0.3%, 0.3% forecast, 0.2% previous
•Swiss CPI (YoY) (Apr) 0.6%, 0.3% previous
•UK New Passenger Car Registrations (Apr): 149,247, 380,627 previous
•UK Car Registration (Apr YoY): 24.0%, 6.6% previous
•US Trade Balance (Mar): -60.30B, -61.00B forecast, -57.80B previous
•US Exports (Mar): 320.90B, 314.70B previous
•US Imports (Mar): 381.20B, 372.40B previous
•US Building Permits (Feb): 1.538M, 1.538M forecast, 1.386M previous
•Canada Imports (Mar): 70.99B, 72.17B previous
•Canada Exports (Mar): 72.77B, 67.06B previous
•US Building Permits (Feb MoM): 11.0%, 10.9% forecast, -4.7% previous
•US Building Permits (Mar): 1.363M, 1.372M forecast, 1.538M previous
•US Building Permits (Mar MoM): -11.4%, -10.8% forecast, 11.0% previous
•US Redbook (YoY): 7.8%, 7.7% previous
•Canada Services PMI (Apr): 49.20, 47.20 previous
•US S&P Global Services PMI (Apr): 51.0, 51.3 forecast, 49.8 previous
•US S&P Global Composite PMI (Apr): 51.7, 52.0 forecast, 50.3 previous
•US New Home Sales (Feb): 635K, 587K previous
•US New Home Sales (Feb MoM): 8.9%, -17.6% previous
•US New Home Sales (Mar): 682K, 652K forecast, 583K previous
•US JOLTS Job Openings (Mar): 6.866M, 6.860M forecast, 6.922M previous
•US ISM Non-Manufacturing PMI (Apr): 53.6, 53.7 forecast, 54.0 previous
•US ISM Non-Manufacturing Employment (Apr): 48.0, 45.2 previous
•US ISM Non-Manufacturing Prices (Apr): 70.7, 70.7 previous
•US New Home Sales (Mar MoM): 7.4%, -19.9% previous
•US ISM Non-Manufacturing Business Activity (Apr): 55.9, 53.9 previous
•US ISM Non-Manufacturing New Orders (Apr): 53.5, 60.6 previous
•US IBD/TIPP Economic Optimism (May): 42.0, 42.8 previous
Looking Ahead Economic Data (GMT)
•16:40ECB's Lane Speaks
•17:30 UK BoE Deputy Governor Woods Speaks
•17:30 US Fed Vice Chair for Supervision Barr Speaks
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro edged higher on Wednesday as investors assessed escalation in U.S.-Iran tensions. The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with duelling maritime blockades, not long after U.S. President Donald Trump launched a new effort to get stranded tankers and other ships through the vital energy-trade chokepoint. Rising oil prices have hit energy-dependent Europe, fueling inflation concerns and raising expectations of 2–3 ECB rate hikes this year, while also pulling equities below pre-war levels. Attention shifts to Wednesday’s Eurozone producer price index, with market expectations pointing to a monthly rise of 3.3% and a 1.8% year-on-year increase. The data will be closely watched for further clues on inflation dynamics in the region. Immediate resistance can be seen at 1.1720(50%fib), an upside break can trigger rise towards 1.1806(Higher BB).On the downside, immediate support is seen at 1.1644(Lower BB), a break below could take the pair towards 1.1585(382%fib).
GBP/USD: The British pound was broadly steady on Tuesday as traders focused on UK local elections on Thursday that could add to the pressure on Prime Minister Keir Starmer, and the standoff between the U.S. and Iran in the Strait of Hormuz.The fragile truce in the Middle East was under strain after the U.S. and Iran exchanged fire in the Gulf and wrestled for control of the Strait of Hormuz. Sterling has performed better than many rivals during the war so far, but UK local elections could be a headwind. Money markets were last pricing in at least two 25-basis-point rate hikes from the BoE this year, with a good chance of a third. The central bank last week kept policy on hold, but left the door open to rate increases. Markets are concerned that a potentially more left-wing successor could put public finances at risk. Immediate resistance can be seen at 1.3591(Higher BB), an upside break can trigger rise towards 1.3655(38.2%fib).On the downside, immediate support is seen at 1.3532(50%fib), a break below could take the pair towards 1.3499(April 14th low).
AUD/USD: Australian dollar softened on Tuesday after the Reserve Bank delivered a widely expected 25bp hike to 4.35%.Australia’s central bank raised rates for the third time this year, returning borrowing costs to post-pandemic highs, and warned that sticky inflation and a Middle East oil shock will keep price pressures elevated.The Reserve Bank of Australia raised its cash rate by 25 bps to 4.35%, reversing all three rate cuts made earlier in 2025. The decision passed 8–1, marking a more hawkish tone compared to the 5–4 split in March.The RBA said that after three rate hikes, monetary policy is “well placed to respond to developments,” signalling it may pause for now.Inflation rose to 4.6% in March, largely due to higher fuel costs, while core inflation stayed above the RBA’s 2%–3% target range. Immediate resistance can be seen at 0.7231(23.6%fib), an upside break can trigger rise towards 0.7261(Higher BB).On the downside, immediate support is seen at 0.7125(38.2%fib), a break below could take the pair towards 0.7034(50%fib).
USD/JPY: The U.S. dollar edged higher on Tuesday as yen nudged lower in somewhat muted trade after suspected intervention by Tokyo last week sparked sharp gains.. Market speculation suggests Tokyo may have spent around $35 billion in efforts to support the yen, although authorities have not officially confirmed any intervention. Market participants remain on alert for the risk of Japanese intervention as USD/JPY trades near levels that have historically drawn official attention. Traders are especially cautious given Tokyo’s preference for acting during thin liquidity conditions. The yen has languished for years, weighed down by Japan's ultra-low rates and a widening gulf with higher-yielding developed markets, compounded by mounting fiscal unease. The war-driven energy shock has piled on the pressure. Immediate resistance can be seen at 157.86(Daily high) an upside break can trigger rise towards 158.00(Psychological level) .On the downside, immediate support is seen at 156.58(Lower BB) a break below could take the pair towards 155.60(May 4th low).
Equities Recap
European shares edged higher on Tuesday, recovering slightly from the previous session’s losses, supported by strong corporate earnings, although escalating U.S.-Iran tensions kept investor sentiment cautious.
At GMT (13:40) UK's benchmark FTSE 100 was last trading up at 0.95 percent, Germany's Dax was down by 1.85 percent, France’s CAC was up by 0.49 percent.
Commodities Recap
Gold prices rose on Tuesday after hitting a more than one-month low in the previous session, as investors assessed a fragile Middle East truce and the conflict’s potential impact on inflation and interest-rate expectations.
Spot gold was up 1% to $4,566.79 per ounce at 8:45 a.m. EDT (1245 GMT), ?after touching its lowest level since March 31 on Monday.
Oil prices slipped ?on Tuesday a day after the United States launched an operation aimed at reopening the Strait of Hormuz to shipping, although exchanges of fire between the U.S. and Iran limited the decline.
Brent crude futures eased $2.99, or 2.6%, to $111.45 a barrel at 1322 ?GMT after settling up 5.8% on Monday. U.S. West Texas Intermediate ?crude fell $3.70, or 3.5%, to $102.72, after gaining 4.4% in the previous ?session.