Posted at 04 July 2026 / Categories Market Roundups
Market Roundup
• Mexico Consumer Confidence (Jun) 43.8, 43.5 previous
• Mexico Consumer Confidence n.s.a. (Jun) 43.8, 43.1 previous
• Brazil S&P Global Composite PMI (Jun) 50.7, 49.5 previous
•Dollar index down 0.5% for the week, biggest drop since April
•Markets cut Fed hike odds as labour market cools
•Yen off 40-year lows but intervention risks remain
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD : The euro edged higher on Friday as ?the dollar dipped after a tepid U.S. jobs report cooled market expectations for a near-term Federal Reserve interest rate hike. U.S. job growth slowed sharply in June and payroll gains for the prior two months were revised lower, according to data released on Thursday, pointing to a cooling labour market.The unemployment rate dropped to 4.2% last month from 4.3% in May as workers left the labour force, pushing the participation rate to the lowest level in more than five years.The tepid jobs data doused traders' expectations of an imminent rate hike and raised the chances that the Fed will keep rates on hold until October.Fed funds futures are pricing an implied 46.8% probability that the U.S. central bank will keep rates steady at its meeting on September 15 to 16, compared to a 35.8% chance a day earlier, according to the CME Group's FedWatch tool.Immediate resistance can be seen at 1.1475(SMA 20), an upside break can trigger rise towards 1.1495(50%fib).On the downside, immediate support is seen at 1.1368(38.2%fib), a break below could take the pair towards 1.1291(Lower BB).
GBP/USD: The British pound was headed for its biggest weekly jump in 12 weeks against the U.S. dollar on Friday, helped by easing domestic political risk and soft U.S. labour market data.British markets had shown signs of unease when Andy Burnham, the only Labour lawmaker to say he wants to replace outgoing Prime Minister Keir Starmer, gained support for a possible leadership challenge.Burnham had previously stated that the country had to get "beyond this thing of being in hock to the bond markets", worrying some investors that thought he would abandon the government's borrowing pledges. Sterling GBP= was up 0.1% at $1.3357, taking its weekly gain to 1.2%, its biggest weekly jump against the dollar since early April .Immediate resistance can be seen at 1.3389(Daily high), an upside break can trigger rise towards 1.3485(50%fib).On the downside, immediate support is seen at 1.3343(38.2%fib), a break below could take the pair towards1.3296(SMA 20).
USD/CAD: The Canadian dollar weakened on Friday as investors weighed uncertain prospects for Canada's economy, but the move was limited after expectations eased for Federal Reserve interest rate hikes. U.S. job growth slowed sharply in June and payroll gains for the prior two months were revised lower, prompting traders to trim bets on a near-term Fed rate rise.On the data front, home sales in the Greater Toronto Area rose for a fourth straight month in June, while home prices also increased, signalling a continued recovery in Canada's housing market.Investors now expect the BoC to deliver at least one 25-basis-point rate cut by the end of the year, with markets also assigning some probability to a second cut. The loonie was trading 0.1% lower at 1.42 per U.S. dollar, edging closer to a recent 14-month low at 1.4248.Immediate resistance can be seen at 1.4257(23.6%fib), an upside break can trigger rise towards 1.4310(Higher BB).On the downside, immediate support is seen at 1.4134(38.2% fib), a break below could take the pair towards 1.4109(SMA 20).
USD/JPY: The U.S. dollar initially dipped but recovered ground against yen on Friday as traders adjusted positions after the initial selloff . Finance Minister Satsuki Katayama said Tokyo was in regular contact with Washington on foreign exchange issues and remained ready to support the yen after it clawed its way back from 40-year lows.The yen got some relief from broad dollar weakness after Thursday's tepid U.S. jobs report pushed back market bets for imminent interest rate hikes by the Federal Reserve.The currency's prolonged weakness has become a growing headache for policymakers, inflating the cost of imported raw materials and worsening the squeeze on households and businesses already grappling with higher energy prices linked to the Iran war. Immediate resistance can be seen at 161.40(38.2%fib) an upside break can trigger rise towards 162.00(Psychological level) .On the downside, immediate support is seen at 160.22(38.2%fib) a break below could take the pair towards 159.58(SMA20).
Equities Recap
European shares climbed to a record intraday high on Friday and posted their biggest weekly gain in more than a month, as gains in cyclical stocks and fading expectations of an imminent U.S. interest rate hike lifted market sentiment.
UK's benchmark FTSE 100 closed down by 0.40percent, Germany's Dax ended down by 1.31 percent, France’s CAC finished the day down by 0.71percent.
U.S. stock markets is closed on Friday in observance of the Independence Day holiday.
Commodities Recap
Gold rose on Friday and was set for a weekly gain after four straight weeks of declines, as weak U.S. jobs data dampened expectations for a near-term Federal Reserve rate hike.
Spot gold was up 1.3% at $4,174.21 per ounce at 1241 ?GMT, after hitting its highest since June 23. Bullion held above its ?21-day moving average and is up over 2% for the week so ?far.U.S. gold futures for August delivery gained 1.5% to $4,186.80.
Oil prices were little changed on Friday and remained on track for a largely flat weekly performance, as investors pinned their hopes on progress in U.S.-Iran peace negotiations that could ease geopolitical tensions and reduce concerns over potential supply disruptions.
The U.S. price of oil was up 0.1% at $68.78 a barrel as traders held on to hopes for a successful outcome from attempts to secure peace between the U.S. and Iran.