Market Roundup
• French Non-Farm Payrolls (QoQ) (Q2) -0.1%, -0.1% forecast, -0.1% previous
• Swiss Unemployment Rate n.s.a. (Jul) 3.0%, 2.9% previous
• Swiss Unemployment Rate s.a. (Jul) 3.1%, 3.1% forecast, 3.1% previous
• Spanish Industrial Production (YoY) (Jun) 1.1%, 3.1% previous
• HCOB Italy Construction PMI (Jul) 49.1, 45.4 previous
• HCOB Germany Construction PMI (Jul) 42.1, 44.8 previous
• HCOB France Construction PMI (Jul) 41.5, 38.2 previous
• HCOB Eurozone Construction PMI (Jul) 44.3, 42.8 previous
• Italian Industrial Production (YoY) (Jun) -0.6%, 1.0% forecast, 1.2% previous
• Italian Industrial Production (MoM) (Jun) -1.0%, 0.3% forecast, -0.3% previous
•Eurozone Retail Sales (YoY) (Jun) 0.7%, 1.0% forecast, 1.9% previous
•Eurozone Retail Sales (MoM) (Jun) -0.3%, 0.1% forecast, 0.4% previous
•U.S. Challenger Job Cuts (Jul) 33.429K, 45.849K previous
•U.S. Challenger Job Cuts (YoY) -46.1%, -4.5% previous
•Irish Unemployment Rate (Jul) 5.1%, 5.0% previous
•Canadian Reserve Assets Total (Jul) 127.0B, 126.4B previous
•U.S. Initial Jobless Claims 199K, 203K forecast, 198K previous
•U.S. Unit Labor Costs (QoQ) (Q2) 1.3%, 2.2% forecast, 1.3% previous
•U.S. Nonfarm Productivity (QoQ) (Q2) 1.4%, 0.6% forecast, 0.8% previous
•U.S. Continuing Jobless Claims 1,801K, 1,790K forecast, 1,777K previous
•U.S. Jobless Claims 4-Week Average 198.75K, 203.25K previous
Looking Ahead Events And Other Releases (GMT)
•16:30 U.S. Atlanta Fed GDPNow (Q3) 5.9% forecast, 5.9% previous
•16:30 U.S. 4-Week Bill Auction 3.630% previous
•16:30 U.S. 8-Week Bill Auction 3.675% 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 markets weighed the prospects of an Iran peace deal and awaited key U.S. labour market data. Reuters reported that a proposed Iran-Oman agreement could give Tehran control over ships entering the Gulf through the Strait of Hormuz, marking a major potential concession.Investors also focused on Friday’s nonfarm payrolls report after ADP data showed U.S. private employers added 44,000 jobs in July, below expectations and down from June’s 95,000 increase. Meanwhile, The S&P Global Eurozone Construction PMI came in at 44.3 in July 2026, up from 42.8 in June, pointing to another sharp contraction but one that was the softest since March. Immediate resistance can be seen at 1.1535(50%fib), an upside break can trigger rise towards 1.1600(psychological level).On the downside, immediate support is seen at 1.1442(38.2%fib), a break below could take the pair towards 1.1422(SMA 20).
GBP/USD : The British pound was little changed against dollar on Thursday as investors awaited developments on a possible Iran-Oman agreement that could reopen the Strait of Hormuz. Markets remained focused on the Middle East amid growing optimism that a deal to restore shipping through the vital waterway and support broader efforts to end the U.S.-Iran conflict could be nearing.The Bank of England left interest rates unchanged last week, saying it needed more time to assess the inflationary impact of the Middle East conflict. A survey on Thursday showed Britain's construction downturn eased in July as declines in commercial building and house building moderated, while business confidence improved to its highest level since before the Iran conflict began. The S&P Global UK Construction PMI rose to 44.7 in July from 38.4 in June, though it remained below the 50 mark that separates expansion from contraction. Immediate resistance can be seen at 1.3474(38.2%fib), an upside break can trigger rise towards 1.3543(23.6%fib).On the downside, immediate support is seen at 1.3414(50%fib), a break below could take the pair towards1.3395(SMA 20).
AUD/USD: The Australian dollar edged lower on Thursday as investors positioned ahead of key U.S. labour market data due later this week..The employment data will be closely monitored for signals on the Federal Reserve’s policy outlook and could determine the next major move in AUD/USD. A stronger-than-expected labour market reading may support the U.S. dollar, while weaker data could increase expectations for Fed easing and provide support to the Australian dollar. Meanwhile ,the number of Americans filing claims for unemployment benefits increased slightly last week, while layoffs dropped to a two-year low in July, consistent with a stable labor market.Initial claims for state unemployment benefits rose 1,000 to a seasonally adjusted 199,000 for the week ended August 1, the Labor Department said. Economists polled had forecast 202,000 claims for the latest week. Immediate resistance can be seen at 0.6971(SMA20), an upside break can trigger rise towards 0.6984(50%fib).On the downside, immediate support is seen at 0.6917 (38.2%fib), a break below could take the pair towards 0.6899(Lower BB).
USD/JPY: The U.S. dollar edged higher against the yen on Thursday as the Japanese currency weakened on uncertainty over a U.S.-Iran deal and caution ahead of the U.S. nonfarm payrolls data. Markets closely monitored Gulf developments after Reuters reported that a proposed Iran-Oman agreement could allow Tehran to oversee inbound traffic through the Strait of Hormuz. President Donald Trump said a deal to reopen the strategic waterway was near, although U.S. officials reiterated they would not accept Iranian control over the route. Meanwhile, minutes from the Bank of Japan's June meeting showed policymakers discussed the need for further interest rate hikes as inflation risks intensified after raising borrowing costs to a 31-year high. Immediate resistance can be seen at 157.82 (38.2%fib), an upside break can trigger rise towards 158.88(May 15th high).On the downside, immediate support is seen at 157.31(Daily low) a break below could take the pair towards 157.00 (Psychological level).
Equities Recap
European shares climbed to a record intraday high on Thursday as investors evaluated prospects for a U.S.-Iran peace deal and progress toward reopening the Strait of Hormuz, while upbeat corporate earnings added to the positive market sentiment.
UK's benchmark FTSE 100 was down by 0.07 percent, Germany's Dax was up by 0.23 percent, France’s CAC was up by 0.74 percent.
Commodities Recap
Gold climbed for a fourth consecutive session on Thursday, touching a seven-week high as markets further scaled back expectations for U.S. Federal Reserve rate hikes and awaited Friday's nonfarm payrolls report for fresh clues on the central bank's policy outlook.
Spot gold rose 0.4% to $4,261.98 per ounce by 10:24 a.m EDT (1424 GMT), earlier hitting its highest since June 18. The yellow-metal climbed over 4% on Wednesday, its largest daily gain since February.U.S gold futures gained 0.4% to $4,322.70.
Oil prices rose on Thursday as investors remained cautious over the outcome of Iran-Oman talks and whether they would restore oil flows through the Strait of Hormuz, while reports of attacks on Saudi tankers in the Red Sea and Gulf of Aden renewed concerns over supply disruptions.
Brent crude futures gained 83 cents, or 1.04%, to $80.28 a barrel by 1158 GMT. U.S. West Texas Intermediate futures added 61 cents, or 0.81%, to $75.83.
