Market Roundup
• Canada S&P Global Manufacturing PMI (Dec)48.6, 48.4 previous
•US S&P Global Manufacturing PMI (Dec) 51.8, 51.8 forecast, 52.2 previous
Looking Ahead Economic Data (GMT)
•No Events Ahead
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD : The euro dipped on Friday after data showed Euro zone manufacturing activity shrank further in December. Factory activity in the common currency bloc slid into deeper contraction last month as production decreased for the first time in 10 months on further declines in new orders.The HCOB Eurozone Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 48.8 in December from 49.6 in November. It was the lowest reading in nine months and below the 50 level that separates growth from contraction for the second straight month.Germany, the bloc's largest economy, recorded the weakest performance among the eight nations monitored with the PMI reading hitting a 10-month low. Italy and Spain also slipped back into contraction territory. Immediate resistance can be seen at 1.1793(23.6%fib), an upside break can trigger rise towards 1.1828(Higher BB).On the downside, immediate support is seen at 1.1731(38.2%fib), a break below could take the pair towards 1.1680(50%fib).
GBP/USD: Sterling traded flat against the dollar on Friday as thin liquidity kept trading subdued at the start of 2026. Trading in Britain has been light over the Christmas and New Year period, with activity expected to pick up only next week.Currency movements have largely reflected easing concerns over the UK budget and Bank of England policy in recent weeks.The BoE cut its interest rate last month in a narrow 5-4 vote, while signaling that its already gradual pace of easing could slow in 2026.Money market traders are not fully pricing in another rate cut until June, with expectations of just 40 basis points of easing this year implying roughly a 60% chance of a second quarter-point reduction by year-end.. Immediate resistance can be seen at 1.3499(23.6%fib), an upside break can trigger rise towards 1.3529(Higher BB).On the downside, immediate support is seen at 1.3405 (38.2%fib), a break below could take the pair towards 1.3338(50%fib).
USD/CAD: The Canadian dollar weakened on Friday after data showed Canada’s manufacturing sector contracted for an 11th consecutive month in December. The S&P Global Canada Manufacturing PMI rose slightly to 48.6 in December from 48.4 in November, staying below 50 for a tenth month and signaling continued contraction. Oil prices eased after posting their biggest annual loss since 2020, as investors weighed oversupply concerns against ongoing geopolitical risks.U.S. crude slipped 0.17% to settle at $57.32 a barrel, while Brent fell 0.16% to $60.75 a barrel. The dollar firmed on the first trading day of 2026 as investors looked ahead to economic data that could shape Federal Reserve policy and global markets. Immediate resistance can be seen at 1.3752 (38.2%fib), an upside break can trigger rise towards 1.3766 (SMA 20).On the downside, immediate support is seen at 1.3649(Dec 26th low), a break below could take the pair towards 1.3587 (23.6%fib).
USD/JPY: The U.S. dollar traded flat on Friday as investors assessed the Bank of Japan’s cautious approach to monetary tightening. While the BoJ remains committed to its tightening plan, it has offered little clarity on the timing of the next interest-rate hike.Japan’s verbal warnings last month briefly kept the yen out of intervention territory, with Finance Minister Katayama stressing the country’s freedom to act against excessive currency moves. However, concerns over further yen weakness persist. Business lobby leaders have since urged the government to take steps to address the currency’s decline and support a stronger yen.Japan’s expansive fiscal policy also remains a source of concern, with public debt already exceeding twice the size of the economy. Immediate resistance can be seen at 157.80(23.6%fib) an upside break can trigger rise towards 158.00(Psychological level) .On the downside, immediate support is seen at 155.91 (SMA 20) a break below could take the pair towards 155.61 (38.2%fib).
Equities Recap
European equities opened 2026 on a strong note, climbing to record highs on Friday and extending the market’s standout rally from 2025.
UK's benchmark FTSE 100 closed up by 0.20 percent, Germany's Dax ended up by 0.20 percent, France’s CAC finished the day up by 0.56 percent.
The Dow Jones and S&P 500 closed higher on Friday, kicking off 2026 by ending a four-day losing streak.
Dow Jones closed up by 0.66 % percent, S&P 500 closed up by 0.19 % percent, Nasdaq settled down by 0.03% percent
Commodities Recap
Spot gold was up 0.3% to $4,328.49 per ounce, as of 12:24 p.m. ET (17:24 GMT), after rising as high as $4,402.06 earlier in the session.Bullion hit a record high of $4,549.71/oz on December 26, and logged a 64% rise in 2025.
U.S. gold futures for February delivery were little changed at $4,339.60/oz.
Oil fell Friday after posting its largest annual loss since 2020, as oversupply concerns and geopolitical risks, including Ukraine and Venezuelan exports, weighed on markets.
Brent crude futures closed down 10 cents to $60.75 a barrel, while U.S. West Texas Intermediate crude eased 10 cents to $57.32.
