Posted at 11 July 2026 / Categories Market Roundups
Market Roundup
•Canada Unemployment Rate (Jun) 6.5%, 6.6% forecast, 6.6% previous
•Canada Employment Change (Jun) 18.2K, 11.2K forecast, 87.8K previous
•Canada Building Permits (MoM) (May) -1.7%, 1.0% forecast, -6.6% previous
•Canada Part Time Employment Change (Jun) 17.5K, -66.2K previous
•Canada Avg Hourly Wages Permanent Employee (Jun) 3.7%, 3.2% previous
•Canada Full Employment Change (Jun) 0.6K, 154.0K previous
•Canada Participation Rate (Jun) 65.0%, 65.0% previous
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Forecast
EUR/USD : The euro rose marginally on Friday as investors focused on renewed tensions between the United States and Iran, while disruptions to traffic through the Strait of Hormuz fueled concerns that rising oil prices could add to inflationary pressures.U.S. President Donald Trump said on Friday Iran had asked to continue talks and theU.S. had agreed, but noted that the June ceasefire was "over.". Money markets were pricing in around 32 basis points of ECB tightening by year-end on Friday, implying one further quarter-point rate increase and roughly a 30% chance of a second move. That was down from about 36 basis points earlier in the week. 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 initially gained but gave up ground on Friday as investors monitored tensions in the Middle East, where a new flareup of hostilities this week between the U.S. and Iran has renewed concerns for the outlook of energy prices and global inflation. Daily tanker traffic in the Strait of Hormuz, the critical waterway, appeared to have slowed on Friday. Iran's semi-official Tasnim news agency reported a Qatari delegation visited Iran on Friday in what is believed to be an effort by Doha to consolidate its role as a mediator.Next week's June inflation data will offer fresh insight into the Fed's likely monetary policy path, while Fed Chair Kevin Warsh is also scheduled to testify before the House Committee on Financial Services.Immediate resistance can be seen at 1.3433(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 strengthened to a three-week high against its U.S. counterpart on Friday after domestic data showed that the economy added more jobs than expected last month, reducing concerns about the growth outlook. Canada’s economy ?added a net 18,200 jobs in June, eclipsing estimates for a gain of 10,000, ?and the unemployment rate edged down to 6.5%, continuing the momentum seen in the prior month despite lingering trade uncertainty.The ?price of ?oil , one of Canada's major exports, fell 1.3% to $71.11 a barrel but was on track for weekly gains as renewed U.S.-Iran fighting disrupted shipping in the ?Strait ?of Hormuz. Immediate resistance can be seen at 1.3950(23.6% fib), an upside break can trigger rise towards 1.3970(Higher BB).On the downside, immediate support is seen at 1.3857(38.2% fib), a break below could take the pair towards 1.3791(SMA 20).
USD/JPY: The U.S. dollar fell sharply on Friday as the yen strengthened after Finance Minister Satsuki Katayama said the government would encourage domestic pension funds to increase their holdings of Japanese financial assets.The remarks drew attention to the Government Pension Investment Fund (GPIF), the world's largest pension fund, which managed 293.6 trillion yen ($1.8 trillion) in assets at the end of March.The latest news also highlights how urgently Tokyo is searching for ways to anchor markets buffeted by sharp swings in bond yields and the currency.Before Friday's news, the yen had been languishing near 40-year lows, keeping traders on guard for potential intervention by Japanese authorities. 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
European shares slipped on Friday and ended the week lower as uncertainty over Middle East peace efforts weighed on sentiment, while technology stocks paused after a strong two-month rally.
UK's benchmark FTSE 100 closed up by 0.24 percent, Germany's Dax ended down by 0.20 percent, France’s CAC finished the day up by 0.15 percent.
The S&P 500 rose to end just short of a record high on Friday, as a blockbuster Nasdaq debut of South Korea's SK Hynix fueled optimism about memory-chip makers, while investors looked ahead to quarterly earnings season kicking off next week.
Dow Jones closed down by 0.29% percent, S&P 500 closed down by 0.42% percent, Nasdaq settled up by 0.28% percent.
Commodities Recap
Gold eased ?on Friday and was on course for a weekly decline, as higher oil prices linked to the Middle East conflict fuelled inflation concerns and bolstered expectations of tighter U.S. monetary policy.
Spot gold slid 0.4% to $4,103.23 per ounce by 2:10 p.m EDT (1810 GMT), and was down 1.7% for the ?week so far. U.S. gold futures for August settled around 0.7% lower at $4,113.70 ?per ounce.
Oil prices settled lower on Friday after the latest round of U.S.-Iran fighting ?as traders grew hopeful that shipping would eventually resume in the Strait of Hormuz, but prices finished with sharp weekly gains.
Brent futures settled at $76.01 a barrel, down 29 cents, or 0.38%. U.S. West Texas Intermediate crude finished at $71,41 a barrel down 67 cents or 0.93%.