Posted at 11 May 2026 / Categories Market Roundups
Market Roundup
•Australia Building Approvals (MoM) (Mar) -10.5%, -10.5% forecast,31.0% previous
•China CPI (MoM) (Apr) 0.3%, -0.1% forecast, -0.7% previous
•China PPI (YoY) (Apr) 2.8%, 1.7% forecast, 0.5% previous
•China CPI (YoY) (Apr) 1.2%, 0.9% forecast, 1.0% previous
•Australia Private House Approvals (Mar) 0.9%, 0.9% forecast,2.0% previous
Looking Ahead Economic Data (GMT)
• 10:30 German 12-Month Bubill Auction 2.517% previous
• 10:30 German 6-Month Bubill Auction 2.310%
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro steadied on Monday after U.S. President Donald Trump rejected Iran's response to a U.S. peace proposal. President Donald Trump's swift rejection of Iran's response to a U.S. peace proposal sent ?oil prices surging on Monday amid concerns the 10-week-old conflict will drag on, keeping shipping through the Strait of Hormuz paralysed.Days after the U.S. floated an offer in the hopes of re-opening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, especially Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants. Tehran also included a demand for compensation for war damage and emphasised Iranian sovereignty over the Strait of Hormuz, Iranian state TV said. 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: Sterling wobbled against the U.S. dollar in Asian trading on Monday as fading hopes for a U.S.-Iran peace agreement boosted oil prices, Treasury yields and demand for the greenback. U.S. President Donald Trump described Iran’s response to Washington’s latest peace proposal as “unacceptable,” underscoring the growing risk of prolonged tensions in the Middle East.The deteriorating geopolitical outlook pushed WTI crude oil prices up 5%, intensifying concerns over global inflation and energy supply disruptions. In the UK, Prime Minister Keir Starmer began a political fightback following heavy local election setbacks, placing closer European ties at the centre of his government reset strategy. Starmer faces increasing pressure from within the Labour Party, including criticism from a former minister, ahead of a key speech on Monday and Wednesday’s “King’s Speech,” which is expected to outline the government’s legislative agenda. 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 retreated from early gains on Monday as deteriorating prospects for a U.S.-Iran peace agreement boosted demand for the greenback.U.S. President Donald Trump described Iran’s latest response as “totally unacceptable,” while Iranian officials reportedly dismissed Washington’s stance, deepening fears of prolonged geopolitical tensions.Australia’s government will unveil its annual budget on Tuesday, with officials pledging spending restraint to help curb inflation.Markets expect a smaller-than-forecast deficit and potential changes to investment tax rules that critics say favour wealthy property investors.On the data front, Australia will release first-quarter wages data as policymakers assess whether another interest rate hike is needed to cool demand. Forecasts point to wage growth rising 0.8% quarter-on-quarter, unchanged from the previous reading. 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 strengthened against yen on Monday as greenback firmed on safe-haven demand after President Donald Trump rejected Iran’s response to his peace proposal. U.S. President Donald Trump on Sunday rejected Iran's response to a U.S. proposal for peace talks, dashing hopes ?for an imminent end to the 10-week-old conflict that has paralysed maritime traffic in ?the Strait of Hormuz, and driven up global energy prices.The ongoing war with Iran ?and its shock to oil prices and supplies have rocketed to the top of the list of concerns for financial stability, according to a semi-annual Federal Reserve report released on Friday.Investors are now looking out for April's U.S. Consumer Price Index data, due later this week, for further clues ?on the Fed's monetary policy direction.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
Asian stocks rose as investors increased bets on the AI-driven rally, overlooking Middle East tensions even after U.S. President Donald Trump rejected Iran’s latest peace proposal, sending oil prices higher.
Japan’s Nikkei 225 was up by 0.49 % , Hang Seng was up at 0.05%, China A50 was up at 1.38%
Commodities Recap
Oil prices rallied on Monday, a day after President Donald Trump said Iran's response to a U.S. proposal was "unacceptable," raising supply fears as the Strait of Hormuz stayed largely closed, which kept the global market tight.
Brent crude ?futures climbed $4.04 or 3.99% to $105.33 a barrel at 0614 GMT. U.S. West Texas Intermediate was at $99.85 ?a barrel, up $4.43, or 4.64%.
Gold prices fell on Monday, as a lack of progress in U.S.–Iran peace negotiations pushed oil prices higher, fuelling concerns that elevated inflation could keep interest rates higher for longer.
Spot gold ?fell 0.8% at $4,676.02 per ounce, as of 0726 GMT. U.S. gold futures for June ?delivery lost 1% at $4,684.50.