Posted at 29 July 2026 / Categories Market Roundups
Market Roundup
• Australia CPI (YoY) (Q2) 3.9%, 4.1% forecast, 4.1% previous
•Australia CPI (YoY) (Q2) 3.9%, 4.1% forecast, 4.1% previous
•Australia Trimmed Mean CPI (QoQ) (Q2) 0.8%, 0.9% forecast, 0.8% previous
•Australia CPI (QoQ) (Q2) 0.6%, 0.7% forecast, 1.4% previous
•Australia Weighted Mean CPI (YoY) (Q2) 3.6%, forecast, 3.5% previous
•Australia Trimmed Mean CPI (YoY) (Q2) 3.6%, 3.7% forecast, 3.5% previous
•Australia Weighted Mean CPI (QoQ) (Q2) 0.7%, forecast, 0.9% previous
•Australia CPI Index Number (Q2) 102.31, forecast, 101.70 previous
•Australia Weighted Mean CPI (YoY) (Jun) 3.80%, 4.00% forecast, 4.00% previous
Looking Ahead Economic Data (GMT)
•09:30 UK M4 Money Supply (MoM) (Jun) 0.2% forecast, 0.1% previous
•09:30 UK Mortgage Approvals (Jun) 57.00K forecast, 56.21K previous
•09:30 UK Mortgage Lending (Jun) 3.95B, forecast, 2.89B previous
•09:30 UK BoE Consumer Credit (Jun) 1.700B forecast, 1.662B previous
•09:30 UK M3 Money Supply (Jun) 3,278.5B forecast, previous
•09:30 UK Net Lending to Individuals (Jun) 5.500B forecast, 4.600B previous
•09:30 Belgium GDP (QoQ) (Q2) 0.2% forecast, previous
•09:30 Greece Unemployment Rate (Jun) 8.1 previous
Currency Forecast
EUR/USD : The euro edged higher on Wednesday as traders awaited a Federal Reserve interest rate decision later in the day. The U.S. central bank ?is seen as more likely to leave interest rates steady even as a growing number of its policymakers fret openly about inflation.The decision remains unusually hard to call under the no-guidance regime adopted by the new Fed Chair Kevin Warsh, with traders pricing in a 33% chance of a hike. On the geopolitical front, The United States and Saudi Arabia launched joint strikes on Iran-backed groups in Iraq on Wednesday, accusing them of carrying out drone attacks on Saudi oil facilities, marking a fresh escalation in regional tensions.Immediate resistance can be seen at 1.1414(SMA 20), an upside break can trigger rise towards 1.1447(38.2%fib).On the downside, immediate support is seen at 1.1363(23.6%fib), a break below could take the pair towards 1.1342(Lower BB).
GBP/USD : The pound edged higher on Wednesday as investors looked ahead of the Federal Open Market Committee's decision. The Fed's policy decision ?is due at 1800 GMT, while Kevin Warsh's comments are scheduled for 1830 GMT.Market expectations indicate a 68% chance that the central bank will hold rates steady and a 32% probability of ?a 25 basis points hike, according to the FedWatch tool. Markets are pricing in ?a 77% chance of an increase in September. Meanwhile, the Bank of England and the Bank of Japan ?are widely expected to keep rates unchanged on Thursday and Friday, respectively, and caution against rising inflation.Immediate resistance can be seen at 1.3376(50%fib), an upside break can trigger rise towards 1.3376 (61.8%fib).On the downside, immediate support is seen at 1.3272(38.2%fib), a break below could take the pair towards1.3222(Lower BB).
AUD/USD: The Australian dollar eased on Wednesday after Australia's second-quarter inflation data came in slightly below market expectations, reducing expectations that the Reserve Bank of Australia will need to tighten monetary policy further in the near term.Australia's headline CPI rose 0.6% quarter-on-quarter and 4.0% year-on-year in the second quarter, missing Reuters poll forecasts of 0.7% and 4.1%, respectively. The trimmed mean CPI, the RBA's preferred core inflation measure, increased 0.8% quarter-on-quarter, below the expected 0.9%, while annual trimmed mean inflation slowed to 3.6%, compared with market expectations of 3.7%.The softer reading suggested inflationary pressures continue to ease, reinforcing expectations that the RBA may adopt a more cautious policy stance. Immediate resistance can be seen at 0.7026 (Higher BB), an upside break can trigger rise towards 0.7000(Psychological level).On the downside, immediate support is seen at 0.6969(38.2%fib), a break below could take the pair towards 0.6913(July 17th low).
USD/JPY: The U.S. dollar eased on Wednesday as yen gained ahead of the Federal Reserve's closely watched policy announcement. Markets largely expect the U.S. central bank to keep interest rates unchanged, though the outlook remains clouded by persistent inflation concerns among a growing number of Fed policymakers. The Fed decision and commentary will be closely watched for signals on the timing and scope of any future rate moves, against the backdrop of crude price volatility due to the Iran war. Traders remain cautious over the possibility of Japanese foreign exchange intervention if USD/JPY extends its gains. However, the Ministry of Finance has not intervened in the market recently, and any attempt to support the yen could prove more challenging. Immediate resistance can be seen at 163.99 (23.6%fib) an upside break can trigger rise towards 164.44(Hiigher BB) .On the downside, immediate support is seen at 163.42(July 27th low) a break below could take the pair towards 162.50(SMA20).
Equities Recap
Asian stocks fell sharply on Wednesday, extending a broad market selloff as investors grew increasingly concerned that lofty artificial intelligence valuations may not be justified if heavy spending on AI fails to generate strong returns.
Japan’s Nikkei 225 was down by 1.03% , KOSPI was down at 5.98%, China A50 was up at 0.23%
Commodities Recap
Gold prices were little changed on Wednesday as investors remained cautious ahead of the U.S. Federal Reserve's policy decision, with markets closely watching comments from Fed Chair Kevin Warsh for fresh clues on the outlook for inflation.
Spot gold was little changed at $4,024.54 per ounce by 0448 GMT. U.S. gold futures ?for August delivery dipped 0.4% to $4,023.30.
Oil prices climbed about $3 a barrel on Wednesday after the United States and Saudi Arabia carried out joint strikes in Iraq and U.S. forces intercepted Iranian ballistic missiles targeting American military bases in the Middle East.
Brent futures increased by $3.15, or 3.8%, to $87.24 a barrel by 0520 GMT, while U.S. West Texas Intermediate (WTI) crude rose $2.73, ?or 3.4%, to $81.99 a barrel.