Market Roundup
• US ADP Nonfarm Employment Change (Dec): 41K, 49K forecast, -29K previous.
•Canada Ivey PMI (Dec): 51.9, 49.5 forecast, 48.4 previous.
• US ISM Non-Manufacturing Employment (Dec): 52.0, 49.0 forecast, 48.9 previous.
• US ISM Non-Manufacturing Prices (Dec): 64.3, 64.9 forecast, 65.4 previous.
• US Factory Orders (MoM) (Oct): -1.3%, -1.1% forecast, 0.2% previous.
•Canada Ivey PMI n.s.a. (Dec): 43.3, 44.5 previous.
•US ISM Non-Manufacturing New Orders (Dec): 57.9, 52.6 forecast, 52.9 previous.
• US ISM Non-Manufacturing Business Activity (Dec): 56.0, 54.5 previous.
• US Factory Orders ex Transportation (MoM) (Oct): -0.2%, 0.1% previous.
• US Durables Excluding Transport (MoM) (Oct): 0.1%, 0.2% previous.
• US Durables Excluding Defense (MoM) (Oct): -1.5%, -1.5% forecast, -1.5% previous.
• US Crude Oil Inventories: -3.832M, -1.200M forecast, -1.934M previous.
•Looking Ahead Economic Data (GMT)
•00:30 Australia Trade Balance (Nov)5.140B forecast, 4.385B previous.
•00:30 Australia Exports (MoM) (Nov) 3.4% previous.
•00:30 Australia Imports (MoM) (Nov)2.0% previous.
•03:35 Japan 30-Year JGB Auction 3.427% previous.
•05:00 Japan Household Confidence (Dec)37.8 forecast,37.5 previous.
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro dipped against dollar on Wednesday as investors paused to assess the latest U.S.–Venezuela developments and digested a new round of economic data.Data showed euro zone inflation eased to 2% last month, capping an unexpectedly subdued year for price growth, even as markets assess the delayed effects of U.S. tariffs, German stimulus measures and renewed geopolitical tensions. Germany’s unemployment rate rose less than expected in December, while retail sales unexpectedly declined in November.In France, data showed France's consumer confidence recovered somewhat at the end of the year.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 dipped on Wednesday as the pound struggled to find support amid cautious market sentiment. A light UK economic calendar kept traders focused on U.S. data and ongoing political uncertainties.On the data front, UK construction activity contracted for the 12th consecutive month in December, marking the sector’s longest downturn in nearly two decades. However, an industry survey pointed to growing optimism for 2026. The S&P Global/CIPS Construction PMI came in at 40.1 in December, slightly above November’s 5½-year low of 39.4. The pound was dipped to $1.3500 against the dollar , after hitting $1.3567 on Tuesday, its highest level since September 18. Immediate resistance can be seen at 1.3577(38.2%fib), an upside break can trigger rise towards 1.3620(Higher BB).On the downside, immediate support is seen at 1.3459 (50%fib), a break below could take the pair towards 1.3426(SMA 20).
USD/CAD: The Canadian dollar fell for a seventh consecutive session against the U.S. dollar on Wednesday, pressured by expectations that increased Venezuelan oil exports could weigh on demand for the commodity-linked currency. The loonie was down 0.2% at 1.3840 per U.S. dollar, or 72.25 U.S. cents, marking its weakest level since December 10. The currency has declined in every trading session since December 29, recording its longest daily losing streak since March last year. Oil prices added to the pressure, settling 2% lower at $55.99 a barrel as markets assessed a potential U.S. agreement to import Venezuelan crude. Attention now turns to Canada’s October trade data, due on Thursday. Economists expect the trade balance to swing to a deficit of C$1.4 billion, after it posted a surprise surplus in September. Immediate resistance can be seen at 1.3776 (38.2%fib), an upside break can trigger rise towards 1.3880 (50%fib).On the downside, immediate support is seen at 1.3649(23.6%fib), a break below could take the pair towards 1.3623(Lower BB).
USD/JPY: The dollar edged higher against the yen as market investors digested US economic data and awaited next data release this week. U.S. job openings fell more than expected in November while hiring eased, according to Labor Department data, suggesting demand for labor continued to ebb.Institute for Supply Management data showed that U.S. services sector activity unexpectedly picked up in December, while private payrolls rebounded less than expected in December, according to the ADP's national employment report. The dollar edged 0.08% higher to 156.75 against the Japanese yen .The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.07% to 98.68 .Immediate resistance can be seen at 157.55(23.6%fib) an upside break can trigger rise towards 158.00(Psychological level) .On the downside, immediate support is seen at 156.19 (SMA 20) a break below could take the pair towards 155.03 (38.2%fib).
Equities Recap
European stocks ended flat on Wednesday, snapping a run of record closes as investors paused to digest the latest U.S.–Venezuela developments and sifted through a fresh batch of economic data.
UK's benchmark FTSE 100 closed down by 0.74 percent, Germany's Dax ended up by 0.92 percent, France’s CAC finished the day down by 0.04 percent.
The S&P 500 closed lower on Wednesday, weighed down by declines in JPMorgan, Blackstone, and other financials, while gains in Nvidia and Alphabet helped lift the Nasdaq as investors rotated into AI-focused stocks.
Dow Jones closed down by 0.94 % percent, S&P 500 closed down by 0.34 % percent, Nasdaq settled up by 0.16% percent
Commodities Recap
Oil prices slipped on Wednesday after U.S. President Donald Trump struck a deal to import up to $2 billion of Venezuelan crude,
Gold prices dropped more than 1% on Wednesday as investors took profits following a recent rally, though losses were pared after weaker-than-expected U.S. jobs data revived expectations for Federal Reserve rate cuts.
Spot gold dropped 0.9% to $4,445.32 per ounce, as of 1:36 p.m. ET (1836 GMT). Prices fell as much as 1.7% to $4,422.89 earlier in the session.
U.S. gold futures for February delivery settled 0.7% lower at $4,462.50.
