Posted at 07 May 2026 / Categories Market Roundups
Market Roundup
• HCOB Eurozone Construction PMI (Apr): 41.7, 44.6 previous.
•HCOB France Construction PMI (Apr): 38.1, 38.4 previous.
•HCOB Germany Construction PMI (Apr): 42.1, 48.0 previous.
•HCOB Italy Construction PMI (Apr): 44.8, 46.8 previous.
•French 10-Year OAT Auction: 3.61%, 3.73% previous.
•EU Retail Sales (YoY) (Mar): 1.2%, 1.0% forecast, 1.3% previous.
•EU Retail Sales (MoM) (Mar): -0.1%, -0.3% forecast, -0.3% previous.
•US Challenger Job Cuts (Apr): 83.387K, 60.620K previous.
•US Challenger Job Cuts (YoY): -20.9%, -78.0% previous.
•Canada Leading Index (MoM) (Apr): 0.06%, 0.09% previous.
•US Initial Jobless Claims: 200K, 205K forecast, 190K previous.
•US Nonfarm Productivity (QoQ) (Q1): 0.8%, 0.7% forecast, 1.6% previous.
•US Unit Labor Costs (QoQ) (Q1): 2.3%, 2.6% forecast, 4.6% previous.
•US Continuing Jobless Claims: 1,766K, 1,800K forecast, 1,776K previous.
•US Jobless Claims 4-Week Avg.: 203.25K, 207.75K previous.
•US Construction Spending (MoM) (Feb): -0.2%, -1.9% previous.
•US Construction Spending (MoM) (Mar): 0.6%, 0.3% forecast, -1.9% previous.
Looking Ahead Economic Data (GMT)
•15:30 US Atlanta Fed GDPNow (Q2)3.7% forecast,3.7%previous
•15:30 US 4-Week Bill Auction 3.600% previous
•15:30 US 8-Week Bill Auction 3.620% previous
Looking Ahead Events And Other Releases (GMT)
•18:00 EU ECB's Schnabel Speaks
•19:00 US FOMC Member Kashkari Speaks
Currency Forecast
EUR/USD : The euro firmed against dollar on Thursday as hopes for a de-escalation in the Iran-U.S. war supported oil-exposed currencies . Iran said on Wednesday it was reviewing a U.S. peace proposal that sources indicated would formally end the war but leave unresolved key U.S. demands that Iran suspend its nuclear program and reopen the Strait of Hormuz. An Iranian foreign ministry spokesperson cited ?by Iran's ISNA news agency said Tehran would convey its response. Trump said he believed Iran wanted an agreement. The pullback in oil had boosted the euro, given the continent is far more reliant on imported oil than the United States. The euro was up 0.2% on the day at $1.1755 after gaining 0.47% on Wednesday. Immediate resistance can be seen at 1.1812(50%fib), an upside break can trigger rise towards 1.1828(Higher BB).On the downside, immediate support is seen at 1.1736(SMA 20), a break below could take the pair towards 1.1705(61.8%fib).
GBP/USD: The Sterling nudged higher on the dollar on Thursday as traders reacted to reports that the U.S. and Iran are edging toward a limited, temporary agreement to halt ?their war though investors were also keeping a wary eye on British ?local elections . Hopes that could lead to the reopening of the Strait of Hormuz have ?supported pound in the past 24 hours and weighed on the dollar ?against most peers.In ?terms of domestic news, the focus is on British local and regional elections which could see the ?nationally governing Labour party lose swathes of council seats in England, the end of its dominance of the Welsh Senedd assembly and a possible third-place finish for Scotland's Holyrood parliament.The pound was last up 0.2% on the dollar at $1.3621, building on Wednesday's 0.4% gain. Immediate resistance can be seen at 1.3658(Higher BB ), an upside break can trigger rise towards 1.3701(38.2%fib).On the downside, immediate support is seen at 1.3571(50%fib), a break below could take the pair towards 1.3532(SMA 20).
AUD/USD: Australian dollar steadied near four-year high on Thursday as hopes for a de-escalation in the Middle East conflict supported risk sensitive Australian dollar.Iran said it was reviewing a U.S. peace proposal that could formally end the Gulf war, though key issues including Tehran’s nuclear program and reopening the Strait of Hormuz remain unresolved.The improvement in global risk sentiment helped offset March data showing Australia's first goods trade deficit since 2017 as a boom in data centres sucked in imports of processing equipment. The Australian Bureau of Statistics reported the trade balance swung wildly to a deficit of A$1.8 billion ($1.30 billion) in March, from a revised surplus of A$5.0 billion in February. That was far below market forecasts for a A$4.1 billion surplus. Markets imply around a 20% chance the Reserve Bank of Australia will hike again in June, having already lifted rates by a total 75 basis points to 4.35% over its last three meetings. Immediate resistance can be seen at 0.7280(23.6%fib), an upside break can trigger rise towards 0.7297(Higher BB).On the downside, immediate support is seen at 0.7229(Daily low), a break below could take the pair towards 0.711(38.2%fib).
USD/JPY: The U.S. dollar edged lower against yen on Thursday as traders remained cautious following sharp yen volatility in the previous session.The yen recorded its fourth sudden surge in the past week, keeping market participants alert for possible intervention by Japanese authorities.Traders continue to closely monitor official comments after Japan’s top currency official stated that the IMF’s classification of the yen as a floating currency does not restrict Tokyo from taking action in the foreign exchange market if needed.Attention was also drawn to the Bank of Japan, where meeting minutes showed that several board members believe additional rate hikes may be necessary if the Iran conflict drags on and fuels inflationary pressures. Immediate resistance can be seen at 157.58(50%fib) an upside break can trigger rise towards 158.00(Psychological level) .On the downside, immediate support is seen at 155.16(Daily low) a break below could take the pair towards 153.18(61.8%fib).
Equities Recap
European shares were steady on Thursday after a sharp rally in the previous session, as investors assessed the prospects of a U.S.-Iran peace deal and digested a slew of corporate earnings.
At GMT (14:10) UK's benchmark FTSE 100 was last trading down at 1.30 percent, Germany's Dax was down by 0.80 percent, France’s CAC was down by 0.72 percent.
Commodities Recap
Gold rose for a third consecutive session on Thursday, aided by increasing optimism that a peace agreement will be achieved between the U.S. and Iran, which helped ease worries about inflation and the likelihood of prolonged higher interest rates.
Spot gold was up 1.1% to $4,740.42 per ounce, as of 9.08 a.m. EDT (1308 GMT), after hitting a two-week peak earlier in the session.U.S. gold futures rose 1.2% to $4,749.20.
Oil prices extended losses on Thursday, falling about 2% below $100 per barrel on renewed hopes of a U.S.-Iran peace deal that could lead to a gradual reopening of the Strait of Hormuz.
Brent crude contracts fell by $1.95, or 1.93%, to $99.32 per barrel by 09:12 GMT, while US West Texas Intermediate crude declined by $1.93, or 2.03%, to $93.15 per barrel.