Market Roundup
•US Natural Gas Storage 74B, 71B forecast,87B previous
•US 4-Week Bill Auction 3.910% , .945% previous
•US 8-Week Bill Auction 3.890% forecast,3.900% previous
•US Fed's Balance Sheet 6,587B, forecast,6,590B previous
Looking Ahead Economic Data(GMT)
• 0030 Australia Housing Credit (Sep) 0.6% forecast,0.6% previous
• 0030 Australia PPI (YoY) (Q3) 0.4% previous
• 0030 Australia PPI (QoQ) (Q3) 0.8%forecast, 0.7% previous
• 0030 Australia Private Sector Credit (MoM) (Sep) 0.5%forecas, 0.6% previous
•01:30 Chinese Composite PMI (Oct) 50.6 previous
•01:30 Chinese Manufacturing PMI (Oct) 49.6forecast , 49.8 previous
•01:30 Chinese Non-Manufacturing PMI (Oct) 50.1forecast, 50.0 previous
•05:00 Japan Construction Orders (YoY) (Sep) 38.9% previous
•05:00 Japan Housing Starts (YoY) (Sep) 7.8%forecast, -9.8 previous
Looking Ahead Events And Other Releases(GMT)
•No Events Ahead
Currency Summaries
EUR/USD : The euro edged lower against the dollar on Thursday as investors digested ECB rate decision and President Christine Lagarde comments. The European Central Bank kept interest rates unchanged at 2% for the third meeting in a row on Thursday and repeated that policy was in a "good place" as economic risks recede and the euro zone shows resilience in the face of uncertainty.ECB President Christine Lagarde said at her news conference on Thursday that the central bank's "good place" for policy was not "fixed" and policymakers would treat the risk of undershooting as seriously as that of overshooting -- a principle known as symmetry.Lagarde added that recent trade deals, including U.S. tariff cuts on China, eased global risks but key uncertainties remain. ECB policymakers are bracing for a December showdown as new three-year forecasts may reveal risks of missing their target. Immediate resistance can be seen at 1.1662(50%fib), an upside break can trigger rise towards 1.1728(Oct 17th high).On the downside, immediate support is seen at 1.1561(61.8%fib), a break below could take the pair towards 1.1523(Lower BB).
GBP/USD: The pound hovered near a 5-1/2-month low against the dollar on Thursday as investors weighed the Bank of England’s (BoE) policy outlook. A slowdown in key economic indicators and easing inflation have fueled expectations that the BoE may begin cutting rates sooner than previously anticipated.Attention is now turning to Chancellor Rachel Reeves’s late-November budget, with markets watching for signals on the extent of tax hikes and spending cuts. Economists note that tighter fiscal measures could provide room for the BoE to ease monetary policy earlier.Markets currently expect the BoE to lower interest rates by 25 basis points to 3.75% at its upcoming policy meeting, citing signs of a cooling labor market and weakening economic momentum. Immediate resistance can be seen at 1.3250(38.2%fib), an upside break can trigger rise towards 1.3335(50%fib).On the downside, immediate support is seen at 1.3166(Lower BB), a break below could take the pair towards 1.3144(23.6%fib).
USD/CAD: The Canadian dollar weakened against the U.S. dollar on Thursday as the greenback strengthened broadly, though losses were limited as the impact of the Federal Reserve’s hawkish tone began to wane. The Fed delivered a widely expected 25 basis point rate cut but signaled caution about further easing, with Chair Jerome Powell noting that another cut in December was not a “foregone conclusion.”Following Powell’s remarks, traders trimmed expectations for a December rate cut to around 70%, down from over 90% earlier in the week. Meanwhile, oil prices a key driver for the Canadian dollar edged up 0.5% to $60.75 per barrel, supported by optimism over a potential U.S.–China trade truce. The loonie was trading 0.3% lower at 1.3980 per U.S. dollar, or 71.53 U.S. cents, after moving in a range of 1.3928 to 1.4014. Immediate resistance can be seen at 1.4030(38.2 %fib), an upside break can trigger rise towards 1.4089(Higher BB).On the downside, immediate support is seen at 1.3923(Daily low), a break below could take the pair towards 1.3896(38.2%fib).
USD/JPY: The U.S. dollar surged on Wednesday as the yen weakened after the Bank of Japan (BOJ) left interest rates unchanged, in line with expectations. The BOJ maintained short-term rates at 0.5% but reaffirmed its gradual tightening stance, signaling that future hikes remain possible if economic conditions evolve as projected.Board members Naoki Tamura and Hajime Takata once again dissented, repeating their earlier calls from September to raise rates to 0.75%. In its quarterly outlook released Thursday, the central bank slightly upgraded its growth forecast for the fiscal year ending March 2026 and raised its inflation projection for fiscal 2026.At the post-meeting press conference, BOJ Governor Kazuo Ueda offered few clues on the timing of the next rate increase, maintaining a cautious tone amid global economic uncertainty.Immediate resistance can be seen at 154.27(23.6%fib) an upside break can trigger rise towards 155.00 (Psychological level) .On the downside, immediate support is seen at 151.92 (38.2%fib) a break below could take the pair towards 150.21 (50%fib).
Equities Recap
European shares logged their third session of declines on Thursday as uncertainty over the future moves of central banks grew, while investors parsed a new raft of corporate earnings.
UK's benchmark FTSE 100 closed up by 0.04 percent, Germany's Dax ended down by 0.02 percent, France’s CAC finished the day down by 0.52 percent.
Wall Street’s main indexes fell on Thursday, with the Nasdaq Composite and S&P 500 leading declines as sharp losses in Meta and Microsoft weighed on sentiment.
Dow Jones closed down by 0.23 percent, S&P 500 ended down by 1.58 percent, Nasdaq finished the day by 1.58 percent.
Commodities Recap
Gold prices climbed 2% on Thursday, supported by the Federal Reserve’s interest rate cut and persistent uncertainty surrounding the outcome of U.S.–China trade negotiations.
Spot gold was up 1.9% at $4,003.62 per ounce as of 01:39 p.m. ET (1739 GMT). U.S. gold futures for December delivery settled 0.4% higher at $4,015.9 per ounce.
Oil prices were steady on Thursday as investors evaluated prospects for a U.S.–China trade truce after President Donald Trump agreed to lower tariffs on Chinese goods following his meeting with President Xi Jinping in South Korea.
Brent futures rose 8 cents, or 0.1%, to settle at $65.00 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 9 cents, or 0.1%, to settle at $60.57.
