Market Roundup
• Greek Retail Sales (YoY) (Oct) 4.2%,-1.7% previous
•Swiss Official Reserves Assets (Nov) 852.4B forecast, 844.8B previous
Looking Ahead Economic Data (GMT)
•13:30 US Initial Jobless Claims 219Kforecast, 214K previous
•13:30 US Continuing Jobless Claims 1,923K previous
•13:30 US Jobless Claims 4-Week Avg. 216.75K previous
•15:30 US Crude Oil Inventories 0.500M forecast, 0.405M previous
•15:30 US Cushing Crude Oil Inventories 0.707M previous
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Forecast
EUR/USD : The euro traded flat on Wednesday but remains on track to end 2025 with gains of around 13.5%, marking a strong annual performance for the single currency despite bouts of heightened volatility and shifting rate expectations.Near-term focus turns to U.S. initial jobless claims due later on Wednesday, with a Reuters poll forecasting 220K. The data will be closely watched for signs that the U.S. labour market is cooling gradually rather than deteriorating sharply—an important consideration for Federal Reserve policy. Minutes from the Fed’s December meeting underscored a notable degree of internal debate, with policymakers weighing scenarios that could justify either looser or tighter monetary policy.. 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: The British pound was a touch softer against the dollar on Wednesday but was still heading for its biggest annual rise in eight years.the pound has had a strong 2025 against a dismal dollar, the backdrop for sterling in the second half of the year was of domestic political worries, concerns about Britain's public finances and stagnant growth.The big focus for currency traders was the Autumn budget but November's fiscal event passed without too much fuss, alleviating some of the pressure that had been building for the pound in the second half.The pound's performance in 2026 will likely depend on the Bank of England's monetary policy actions.. 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).
AUD/USD: The Australian dollar dipped on Wednesday as the greenback found some support after minutes from the Federal Reserve’s December meeting revealed deep divisions among policymakers during this month’s rate cut decision.The Fed agreed to lower interest rates only after an intense and finely balanced debate over the risks facing the U.S. economy, according to the minutes from the two-day policy meeting. Even some officials who ultimately backed the cut acknowledged the decision was finely balanced, noting they could have supported leaving the target range unchanged given the range of economic risks. In the economic projections released after the December 9–10 meeting, six officials opposed a rate cut outright, with two dissenting as voting members of the Federal Open Market Committee.. Immediate resistance can be seen at 0.6695(23.6%fib), an upside break can trigger rise towards 0.6726(Higher BB).On the downside, immediate support is seen at 0.6654(Daily low), a break below could take the pair towards 0.6609(38.2%fib)
USD/JPY: The U.S. dollar edged higher on Wednesday, though gains were limited as liquidity remained thin with investors winding down the final trading sessions of 2025. Price action was subdued, reflecting widespread position-squaring and a lack of fresh catalysts.Year-end trading caps a highly volatile and challenging period for the Japanese yen, which underperformed most major peers despite intermittent bouts of safe-haven demand and sporadic official rhetoric. Looking into 2026, focus will shift to diverging policy expectations between the Federal Reserve and the Bank of Japan, as well as Japan’s fiscal policy stance, including the scope and timing of any additional stimulus. Japanese markets are closed for the rest of the week, and with most global markets shut on Thursday for the New Year’s Day holiday, trading volumes are likely to remain thin and moves muted. 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 shares edged lower on the final trading day of 2025 but remained near record highs, capping a strong year supported by lower interest rates, Germany’s fiscal backing and a rotation away from richly valued U.S. tech stocks.
At (GMT 13:38),UK's benchmark FTSE 100 was last trading down at 0.09 percent, Germany's Dax was up by 0.51 percent, France’s CAC was last down by 0.23percent.
Commodities Recap
Precious metals rounded out the year with blockbuster annual gains on Wednesday, as silver and platinum prices more than doubled and gold’s run of record highs delivered its strongest performance in more than four decades.
Spot gold fell 0.9% to $4,307.56 per ounce by 1219 GMT, a more than two-week low. U.S. gold futures for February delivery lost 1.5% to $4,318.90/oz.
Spot silver lost 6.4% to $71.53 per ounce on Wednesday after hitting a record high of $83.62 on Monday.
Spot platinum fell 9.3% to $1,995.24 per ounce after rising to a lifetime high of $2,478.50 on Monday. It is up more than 110% for the year, also its strongest annual performance on record
Oil prices inched higher on Wednesday but were still heading for a decline of more than 15% in 2025, as rising expectations of oversupply weighed on a year marked by wars, higher tariffs, increased OPEC+ output and sanctions on Russia, Iran and Venezuela.
Brent crude futures , down nearly 18% - the most substantial annual percentage decline since 2020 - are on track for a third straight year of losses, their longest losing streak to date. U.S. West Texas Intermediate crude headed for a 19% annual decline.
