Posted at 08 July 2026 / Categories Market Roundups
Market Roundup
• Japan Adjusted Current Account (May) 3.06T , 3.19T forecast, 4.21T previous.
•Japan Current Account n.s.a. (May) 3.968T , 4.121T forecast, 3.908T previous.
•Japan Bank Lending (YoY) (Jun) 5.7% , 5.8% forecast, 5.7% previous.
•Australia Building Approvals (MoM) (May) -1.1% , -1.1% forecast, -0.2% previous.
•Australia Building Approvals (YoY) (May) 5.3% ,5.3% forecast, 10.9% previous.
•Australia Private House Approvals (May) 2.8% , 2.8% forecast, -1.0% previous.
•New Zealand RBNZ Interest Rate Decision 2.50% ,2.50% forecast, 2.25% previous
Looking Ahead Economic Data (GMT)
• 07:45 French Reserve Assets Total (Jun) 3,81,300.0M previous
• 07:45 French Current Account (May) -0.20B previous
•10:30 German 10-Year Bund Auction 2.960% previous
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro dipped against dollar on Wednesday as dollar firmed on U.S. renewed strikes on Iran. The U.S. Central Command said on ?Tuesday it completed a new round of strikes on Iran and that it had struck over 80 targets during its latest attacks.Along with unleashing a new wave of strikes against Iran, Washington had also revoked ?a license allowing the country to sell oil after ?three tankers were hit by projectiles in the Strait of ?Hormuz.The ceasefire in the Iran war has remained fragile. The war began when ?the U.S. and Israel attacked Iran on February 28 ?and ?Iran responded with its own strikes on Israel and Gulf states that host U.S. bases. 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 pound edged higher on Wednesday as investors remained cautious amid renewed geopolitical tensions following fresh U.S. military strikes on Iran. Market participants closely monitored developments in the Middle East, with heightened uncertainty prompting a more measured approach to risk-taking across global financial markets.The U.S. Central Command announced on Tuesday that it had completed a new round of military strikes on Iran, targeting more than 80 sites in response to recent attacks on commercial shipping. The latest escalation came after three tankers were struck by projectiles while transiting the Strait of Hormuz, a key global energy shipping route.In addition to the military action, Washington revoked the general license that had previously allowed Iran to sell crude oil, tightening economic pressure on Tehran. The move raised concerns about potential disruptions to global oil supplies and added to uncertainty surrounding inflation and the broader economic outlook. 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).
AUD/USD: Australian dollar strengthened on Wednesday as remarks from RBA’s Hunter supported Australian Dollar. Australia’s consumer and business sentiment has weakened following the recent oil price shock, but the economy has yet to show clear signs of a substantial slowdown in activity, a senior central banker said on Wednesday. Speaking on the impact of supply shocks, Reserve Bank of Australia Assistant Governor Sarah Hunter said it is not always appropriate for central banks to ignore supply-side inflation pressures. She cautioned that if inflation expectations begin to rise, tighter policy resulting in lower inflation and higher unemployment may be necessary. The Reserve Bank of Australia has raised interest rates three times this year, taking the cash rate to 4.35% in an effort to contain inflationary pressures stemming from the global energy shock triggered by the Iran war. Immediate resistance can be seen at 0.6952 (38.2%fib), an upside break can trigger rise towards 0.6986(SMA 20).On the downside, immediate support is seen at 0.6882(61.8%fib), a break below could take the pair towards 0.6822(Lower BB).
USD/JPY: The dollar strengthened on Wednesday as the yen weakened following fresh U.S. airstrikes on Iran in response to recent attacks on vessels transiting the Strait of Hormuz. U.S. unleashed a new wave of strikes against Iran on Tuesday and revoked a licence allowing the country to sell oil after three tankers were attacked ?in the Strait of Hormuz. Market participants remain nervous that Japanese authorities could step into the currency market if the yen weakens too rapidly.Meanwhile, Bank of Japan board member Toichiro Asada said he needs clearer evidence of demand-driven inflation before backing interest rate hikes, but noted faster pass-through of rising costs suggests he could support a future rate increase. Immediate resistance can be seen at 162.73(23.6%fib) an upside break can trigger rise towards 163.00(Psychological level) .On the downside, immediate support is seen at 160.81(38.2%fib) a break below could take the pair towards 159.58(50%fib).
Equities Recap
Asian stocks dipped on Wednesday as renewed geopolitical tensions kept investors cautious over the outlook for energy supplies and risk assets.
Japan’s Nikkei 225 was down by 1.65% , South Korea’s KOSPI was down at 5.49%, China A50 was up at 0.74%
Commodities Recap
Oil prices surged and bond futures fell on Wednesday after the U.S. launched fresh strikes on Iran and reinstated sanctions following attacks on tankers in the Strait of Hormuz, while stocks turned volatile as the AI-driven rally lost momentum.
U.S. crude futures were up 2.7% to $72.40 a barrel and 10-year Treasury futures slid seven ticks as traders priced in the risk that inflation and interest rates rise.
Gold eased on Wednesday to its lowest level in nearly a week, as U.S. strikes on Iran boosted oil prices and the dollar, raising concerns that inflation could keep interest rates higher for longer and weigh on non-yielding bullion.
Spot gold fell 0.1% to $4,100.32 per ounce by 0107 GMT, after dropping to its lowest ?since July 2 earlier in the day. U.S. gold futures for August delivery shed 1.1% to $4,112.50.