Daily Global Market Overview By zForex

[zForex]

Semiconductor Stocks Take the Lead in S&P 500 Earnings Growth​

Technology remains the main engine behind S&P 500 profit growth, but the leadership is starting to shift.



In the first quarter of 2026, major hyperscalers such as Amazon, Alphabet, Meta, and Microsoft contributed around 34% of the index’s year-over-year EPS growth. Semiconductor companies added another 31%.

Together, these two groups generated roughly 65% of total S&P 500 earnings growth. That was well above their 52% contribution in the first quarter of 2025. The rest of the index accounted for only around 36%, based on rounded figures.

The balance may change further in the second quarter. JPMorgan expects semiconductor companies to contribute a record 48% of EPS growth. The hyperscalers’ share is projected to fall sharply to around 9%.

 

[zForex]

Conflict Fuels Inflation Fears (07.23.2026)​

Global markets weakened as the Middle East conflict kept Brent crude above $95, its highest level in six weeks, on concerns over oil supplies. Trump warned of strikes on Iranian infrastructure if shipping through the Strait of Hormuz is targeted, after Iran-backed Houthis attacked two Saudi oil tankers in the Red Sea.

Higher energy prices strengthened expectations that inflation could remain persistent, with markets now pricing a 61% chance of a September Fed rate hike, while both the Fed and ECB are expected to leave rates unchanged at their upcoming meetings.

Risk assets also lost ground, with the US 100 Tech Index down 0.54% and Bitcoin falling 0.66%, as higher oil prices and interest rate expectations continued to weigh on sentiment.

Economic Calendar​

• The euro traded around $1.14, remaining near a one-year low ahead of Thursday's ECB decision. Rates are expected to stay unchanged after June's hike.
• The yen traded near 163 per dollar after falling to a 40-year low of 163.24 earlier this week. Reports that the BOJ could tighten policy faster lifted the probability of an October 25-bp hike to 80% from 70%,
• Sterling remained below $1.34, its lowest level in more than a week, after UK inflation slowed more than expected, reducing the likelihood of a Bank of England rate hike this month.
• The offshore yuan strengthened toward 6.77 per dollar as Hong Kong's offshore yuan deposits reached a record 1.13 trillion yuan and clearing volume rose to 53.2 trillion yuan in June.
• Gold eased to around $4,120 after reaching a two-week high as higher oil prices strengthened expectations that interest rates could stay higher for longer.
• Silver traded around $59 per ounce, remaining below its nearly two-week high as rising Middle East tensions lifted oil prices.
• Bitcoin traded near 65,668, down 0.66% on the day. The cryptocurrency has lost 7.66% over the past four weeks and 44.52% over the last year.
• Brent rose above $92 per barrel, reaching a six-week high and extending gains for a fifth straight session.
• Nasdaq 100 traded near 28,749, down 0.54% on the day. The index has declined 1.61% over the past four weeks

Check more on zForex.com - Technical Outlook on Charts​

 

[zForex]

ECB Keeps September Guessing (07.24.2026)​

Brent crude traded above $100 per barrel, its highest since May, after Houthi attacks on two Saudi oil tankers, continued US strikes on Iran, and fresh supply disruptions from Kazakhstan.

Higher oil prices strengthened inflation concerns, lifting the probability of a September Fed rate hike to 78%. Gold fell below $4,100, silver slipped under $59, the US 100 Tech Index lost 1.87%, and Bitcoin declined 1.47% as higher rate expectations weighed on sentiment.

The euro fell after the ECB kept rates unchanged, sterling weakened as markets priced further BOE tightening, and the yen dropped to a four-decade low despite rising BOJ hike expectations. Meanwhile, the offshore yuan outperformed, supported by record Hong Kong yuan deposits and the PBOC's strongest daily fixing since February 2023.

Economic Calendar​

• The euro slipped below $1.139 after the ECB left interest rates unchanged, in line with expectations. Policymakers maintained a data-dependent stance following June's first rate hike in three years.
• The yen weakened to around 163.3 per dollar, its lowest level in four decades, despite stronger expectations for BOJ tightening and repeated intervention warnings.
• Sterling slipped to $1.336, its lowest level in ten days, as investors weighed new UK fiscal measures against persistent inflation risks
• The offshore yuan strengthened to around 6.77 per dollar as Hong Kong's growing yuan liquidity highlighted continued progress in China's currency internationalization
• Gold fell below $4,100 an ounce, pulling back from two-week highs as rising oil prices strengthened expectations that the Fed could keep rates higher for longer.
• Silver eased below $59 an ounce after reaching a two-week high as rising oil prices reinforced inflation concerns and expectations for tighter Fed policy.
• Bitcoin traded near $65,132, down 1.47% from the previous session. The cryptocurrency has fallen 6.78% over the past four weeks and is down 44.98% over the last 12 months.
• Brent crude surged more than 6% above $96 per barrel, extending gains for a fifth session to its highest level since May.
• Nasdaq 100 traded at 28,472, down 1.87% on the session. The index has declined 2.56% over the past four weeks but remains 22.62% higher than a year ago.

Check more on zForex.com - Technical Outlook on Charts​

 

[zForex]

Stocks Have Beaten Housing Over the Long Run​

Over the past 50 years, US stocks have delivered much stronger returns than home prices.



Since 1975, the S&P 500 has produced an average annual total return of 12.2%, including dividends. US home prices increased by around 5.1% per year over the same period.

Even without dividends, the S&P 500 returned about 9.3% annually. That still leaves stocks well ahead of the housing market.

The gap becomes wider after inflation. Real stock returns averaged 8.3% per year, compared with only 1.4% for home prices.

The takeaway is simple. Housing can provide stability, rental income, and leverage, but stocks have been the stronger long-term wealth-building asset based on historical returns.

 

[zForex]

Fed in Focus Amid Easing Tensions (07.27.2026)​

US stock futures rose as a weekend pause in US-Iran hostilities sent oil prices lower, easing inflation concerns. Despite the truce, Houthi attacks on Saudi Red Sea facilities kept supply risks in focus. Attention now turns to earnings from Apple, Microsoft, Meta, Visa, Exxon, Starbucks, Ford, and PayPal, along with Wednesday's Fed decision, where rates are expected to stay unchanged.

More S&P 500 companies are raising guidance than lowering it, with 93% beating earnings estimates versus a 78% historical average. Stocks have still struggled to build momentum as concerns over AI spending, geopolitical risks, and rich valuations persist. Gains have also broadened beyond Big Tech into sectors such as energy and semiconductors.

The US Dollar Index slipped to around 101.2 as lower oil prices reduced inflation concerns following the US-Iran truce.

The 10-year Treasury yield fell to around 4.64%, retreating from six-month highs as easing geopolitical tensions pushed oil prices lower. Markets now wait for the Fed meeting, Q2 GDP, PCE data, and a busy week of earnings for further direction.

Economic Calendar​

• The euro traded at $1.1411, up 0.14%, holding above the key $1.1400 level after a bullish gap. The ECB left rates unchanged while signaling a likely September hike, as higher oil and gas prices kept inflation concerns alive.
• The yen strengthened to around 163.5 per dollar as the dollar and oil prices retreated following the pause in US-Iran hostilities. Despite the rebound, the currency remained near a 40-year low.
• The British pound fluctuated around $1.33, remaining close to multi-week lows as safe-haven demand from Middle East friction and new U.S. tariffs sustained the dollar.
• Offshore Chinese Yuan traded around 6.7700 as traders assessed the PBOC's liquidity measures and China's growth outlook. The central bank set a slightly stronger daily fixing at 6.7911 and injected CNY 500 billion through its MLF facility.
• Gold rose 1% toward $4,100, rebounding from a nine-month low as oil prices fell after the US and Iran paused hostilities over the weekend.
• Silver rose over 2% toward $60, rebounding from eight-month lows as crude prices tumbled following a weekend pause in U.S.–Iran conflict. The U.S. suspended its two-week strike campaign while Iran ended retaliatory strikes to initiate talks with Oman regarding the Strait of Hormuz.
• Bitcoin traded near 65,160, edging higher as $274 million in weekly ETF inflows improved institutional sentiment. Lower oil prices also eased inflation concerns after the weekend pause in the US-Iran conflict.
• Brent fell as much as 7% below $90 before recovering part of its losses after the US suspended strikes on Iran for a second straight night.
• The Nasdaq-100 rose 1.22% to 28,474 as easing geopolitical tensions and lower oil prices improved sentiment.

Check more on zForex.com | Technical Analysis on Charts​

 

[zForex]

Dollar Holds Firm Ahead of CB Decisions (07.28.2026)​

Global markets traded cautiously ahead of key central bank meetings, with investors focused on the Federal Reserve and the Bank of Japan for fresh policy signals.

The Dollar Index held near 101.5 before the Fed decision. Markets still price over a one-third chance of a rate hike this week and 56% odds for September, while easing US-Iran tensions had little impact on the greenback.

The 10-year Treasury yield remained around 4.64% as traders looked to the Fed for policy signals. Lower oil prices eased inflation concerns but did not change rate expectations.

US stock futures edged lower as chipmakers extended their decline. Focus now shifts to earnings from Microsoft, Meta, Amazon, and Apple, along with the Fed announcement.

Japan's 10-year yield hovered near 2.77% ahead of the BOJ meeting. Rates are expected to stay unchanged, while the prospect of future tightening and fiscal concerns kept yields supported.

Economic Calendar​

• EUR/USD trades near 1.1374, staying close to multi-month lows as the dollar remains supported by firm US data and expectations of a hawkish Fed.
• The yen hovered around 163.7 per dollar, remaining close to a four-decade low as expectations of a possible Fed rate hike continued to support the dollar.
• GBP/USD fluctuated near 1.3295 as cautious risk sentiment supported the dollar ahead of upcoming Federal Reserve and Bank of England meetings. While both central banks are projected to hold rates steady.
• USD/CNY trades around 6.7661, recovering modestly after touching a 52-week low. A slightly weaker daily fixing from the PBOC helped limit yuan strength.
• Gold slipped toward $4,050, giving back recent gains as traders assessed the possibility of a Federal Reserve rate hike this week.
• Silver fell toward $57 per ounce, remaining under pressure as traders weighed a roughly 35% probability of a Federal Reserve rate hike this week. Citadel Securities noted a rate increase would reinforce Chair Warsh's inflation-fighting credentials.
• Bitcoin trades around $63,279, easing about 0.65% after failing to sustain its breakout above $65,000. Attention has shifted to tomorrow's Fed decision, while $465 million in ETF outflows weighed on spot demand.
• Brent extended its decline toward $87, marking a third consecutive session of losses as hopes for easing tensions between the US and Iran improved the supply outlook.
• The Nasdaq-100 slipped 0.32% to 28,039.21 as traders trimmed exposure to semiconductor stocks before a busy week of earnings and central bank decisions. Focus now turns to results from Microsoft, Meta, and Apple, together with Wednesday's Fed meeting.

Check more on zForex.com | Technical Outlook on Charts​

 

[zForex]

Gold Holds Near $4,028 Ahead of the Fed​

Gold is trading near $4,028 after falling toward $4,040 earlier in the session. Traders are reducing risk ahead of the Fed decision, while easing US-Iran tensions have also weakened the immediate safe-haven demand.

Markets still see some chance of a 25-basis-point rate hike. Even without a hike, a hawkish Fed message could lift Treasury yields and the dollar, adding more pressure on gold.

The downside has remained limited around the $4,000 psychological level. Dip buying and continued ETF inflows suggest investors are not fully abandoning gold, especially while geopolitical risks around the Middle East remain unresolved.

Technically, the picture is neutral to slightly bearish. Gold remains below its key moving averages near $4,209 and $4,345, while RSI around 49 shows little directional strength. MACD is improving, which suggests the recent selling pressure may be losing momentum.

For now, $4,000 is the main support to watch. A clear break below it could extend the decline, while a recovery above $4,209 would improve the short-term outlook. Until the Fed decision, gold may remain volatile and headline-driven.

 

[zForex]

All Eyes on the Federal Reserve (07.29.2026)​

Japan's Nikkei 225 climbed 0.6% above 62,700, while the Topix added 0.3% to 3,975, rebounding as investors bought beaten-down tech names like Kioxia, Advantest, and Keyence. Toyota, JX Advanced Metals, and Capcom also gained, though another US chipmaker selloff kept AI-spending concerns alive. The US intercepted a surprise Iranian attack on Middle East troops, reigniting tensions and lifting oil.

The Dollar Index stayed near 101.3 before the Fed decision. Markets still see a one-third chance of a rate hike this week and 80% odds for September, while renewed Middle East tensions pushed oil higher.

The July FOMC meeting gets underway today, with the policy decision due Wednesday. Rates are widely expected to remain unchanged, though some still expect a surprise hike.

US stock futures edged higher despite rising geopolitical tensions. Ford jumped after earnings, while SK Hynix and Visa slipped following their results.

Economic Calendar​

• EUR/USD trades around 1.1387, staying under pressure ahead of the Fed decision. Expectations of a firm Fed continue to support the dollar.
• The yen trades around 163.7 per dollar, remaining close to four-decade lows as attention stays on the Fed decision. Markets expect rates to remain unchanged, although the probability of a hike this week remains close to one-third, with September odds near 80%.
• GBP/USD range-traded near 1.3288 while markets anticipate the upcoming Bank of England decision, where rates are widely expected to remain at 3.75%.
• USD/CNY trades around 6.7712, staying close to yearly lows as the yuan remains supported. Corporate demand to convert dollars into yuan and the PBOC's daily fixing continue to strengthen the currency.
• Gold trades near $4,020, holding recent losses as higher oil prices brought inflation concerns back into focus. Tensions in the Middle East escalated after the US intercepted an Iranian attack on regional military bases.
• Silver traded near $57, holding its recent decline as rebounding oil prices following renewed Middle East clashes reignited inflation and interest rate concerns. U.S. forces intercepted an unexpected Iranian attack across the region.
• Bitcoin trades near $63,778, extending its recent consolidation before the Fed decision. Higher Treasury yields and a stronger dollar have limited buying interest,
• Brent climbed more than 4% toward $88, recovering after three consecutive sessions of losses as renewed tensions in the Middle East raised fresh supply concerns.
• The Nasdaq-100 fell 0.99% to 27,763.13 as weakness in technology shares continued. Concerns over AI spending, together with reports of progress in China's semiconductor industry, weighed on chipmakers.

Check more on zForex.com | Technical Outlook on Charts​

 

[zForex]

Fed Holds Rates, but September Hike Risk Remains​

The Fed kept rates unchanged at 3.50% to 3.75% in July, marking the fifth straight meeting without a move.

Still, the vote was more divided than usual. Three officials supported a 25-basis-point hike, showing that inflation concerns remain strong.

The economy is still expanding at a solid pace, while employment and unemployment remain broadly stable. However, higher energy prices and supply disruptions could keep inflation above target.

Markets will now focus on inflation, jobs, and growth data. A September hike is not guaranteed, but the split vote means it remains a real possibility.

>>> Federal Reserve Statement​

 

[benwhitecole]

Fed Holds Rates, but September Hike Risk Remains​

The Fed kept rates unchanged at 3.50% to 3.75% in July, marking the fifth straight meeting without a move.

Still, the vote was more divided than usual. Three officials supported a 25-basis-point hike, showing that inflation concerns remain strong.

The economy is still expanding at a solid pace, while employment and unemployment remain broadly stable. However, higher energy prices and supply disruptions could keep inflation above target.

Markets will now focus on inflation, jobs, and growth data. A September hike is not guaranteed, but the split vote means it remains a real possibility.

>>> Federal Reserve Statement​

9-3 vote matters more than the hold itself tbh, thats way more hawkish than markets were positioned for. september's basically a coinflip now depending on core pce and jobs data

 

[zForex]

Focus Turns on CBs as Fed Holds Rates (07.30.2026)​

Global markets digested the Federal Reserve's decision to leave interest rates unchanged while assessing signals that further tightening remains possible if inflation persists.

Three FOMC members backed a hike, while Kevin Warsh signaled the pause should not be seen as a policy shift. Fresh US strikes on Iran and stalled Hormuz talks remained in focus.

The Dollar Index slipped below 101, and the 10-year Treasury yield held near 4.68%, adding to recent gains after the Fed meeting. Three policymakers favored a rate hike, while ongoing Middle East tensions kept inflation concerns alive.

Japan's 10-year yield climbed to 2.78%, tracking higher US Treasury yields. The BOJ is expected to keep rates unchanged on Friday while preserving the option of future tightening as fiscal concerns linger.

US stock futures edged higher as earnings reclaimed the spotlight. Microsoft surged 9% after strong cloud and AI results, while Meta fell more than 6% on AI monetization concerns. Focus now shifts to Amazon, Apple, Mastercard, Bristol Myers, and Coinbase as Wall Street digests the Fed decision.

Economic Calendar​

• EUR/USD climbed toward 1.15, its highest level in two weeks, as the dollar softened after the Fed left rates unchanged, matching expectations despite roughly one-in-three odds of a hike.
• The yen traded around 163.5 per dollar, recovering as the dollar weakened after the Fed meeting.
• GBP/USD drifted lower toward 1.3348 as investors await the Bank of England's rate announcement, where policy is projected to hold at 3.75% following a dip in UK inflation to 2.6%
• USD/CNY traded near 6.7653, remaining close to yearly lows as the yuan stayed supported by a lower PBOC fixing and strong exporter demand for the local currency.
• Gold held near $4,050 after the Fed kept rates unchanged despite persistent inflation pressure from higher energy prices.
• Silver prices stabilized around $57.5, maintaining recent gains after the Federal Reserve opted to keep interest rates steady despite rising energy-driven inflation risks.
• Bitcoin traded near $64,093, moving sideways. Softer ETF demand and Strategy's decision to pause purchases ahead of its second-quarter earnings kept price action subdued.
• Brent slipped below $90, giving back part of its recent gains despite fresh US strikes on Iran following attacks on American forces. Concerns over supply remain as talks over the Strait of Hormuz remain stalled.
• The Nasdaq-100 fell 2.06% to 27,192.31, entering correction territory after the Fed meeting.

Check more on zForex.com - Technical Analysis on Charts​

 

[zForex]

Warsh Keeps His Options Open​

The Federal Reserve left interest rates unchanged, but the decision exposed growing differences within the committee. Three regional Fed presidents voted for a 25-basis-point hike, highlighting that inflation remains a major concern despite the pause. Fed Chair Kevin Warsh described the US economy as resilient and said inflation remains above target.

However, he stopped short of signaling the next policy move, repeating that future decisions will depend on incoming economic data.

Bond Markets Push Back​

The financial markets reacted by conveying a different message. Real Treasury yields rose, while short-term yields moved further above the federal funds rate, suggesting investors believe inflation risks may require tighter monetary policy than the Fed currently projects.

Signal Beneath the Hold​

Warsh argued that Treasury prices should be determined freely by the market. Yet when asked about the rise in bond yields, he largely dismissed their significance. The contrast raised fresh questions about the Fed's communication, as policymakers emphasized data dependence while appearing reluctant to acknowledge the market's warning that policy may still need to tighten.

 

[zForex]

BoE Holds at 3.75%​

The Bank of England maintained its policy rate at 3.75% following a 6–3 vote, where three disagreeing members advocated for a 25-basis-point rate increase. Central bank officials are weighing cooling domestic price pressures against emerging energy risks stemming from Middle East tensions.

Although immediate spillover effects remain limited, policymakers warned they stand prepared to adjust policy if inflation proves sticky. Official forecasts project inflation peaking at 3.2% late this year before normalizing toward the 2% target, though sustained oil prices above $100 could drive inflation up to 4.5%.

The BoE retains a hawkish stance as geopolitical uncertainty complicates the inflation trajectory.

 

[zForex]

Central Banks Take Center Stage (07.31.2026)​

Global markets assessed a series of major central bank decisions as investors balanced the Federal Reserve's rate hold with hawkish signals from the Bank of England and Bank of Japan.

The Dollar Index traded near 100, down more than 1% for the week after three straight declines. The dollar fell 3.3% against the yen on Thursday following suspected Japanese intervention, while Treasury Secretary Scott Bessent called the yen "very undervalued." The Fed kept rates unchanged despite three dissents, with markets pricing a 63% chance of a September hike.

Japan's 10-year yield slipped below 2.8% after the BOJ kept its policy rate at 1%, the highest level since 1995 following June's hike. Policymakers highlighted upside inflation risks tied to Middle East tensions, while the yen's sharp rally after suspected intervention eased pressure for more aggressive BOJ tightening.

The US 10-year Treasury yield eased to around 4.65%, heading for a weekly decline as traders assessed the Fed's cautious tone. Although three policymakers backed a rate hike, Chair Kevin Warsh maintained a data-dependent approach, while September hike odds remained near 63%.

US stock futures advanced as earnings stayed in focus. Amazon surged more than 9% after strong cloud results, while Apple fell over 6% as weak services revenue overshadowed a 22% jump in iPhone sales. Chipmakers including Micron, Sandisk, AMD, Intel, and Nvidia extended Thursday's rally after the Nasdaq gained 2.78%, while the S&P 500 and Dow rose 1.66% and 1.19%, respectively.

Economic Calendar​

• EUR/USD trades between 1.1450 and 1.1500, as the Fed's decision and underperforming US GDP growth of 1.5% offset stronger 0.4% Eurozone GDP, which reinforced expectations of further ECB tightening.
• USD/JPY trades near 160.50, rebounding from a two-month low after suspected intervention by Japan's Ministry of Finance and a hawkish Bank of Japan.
• GBP/USD consolidated near 1.3450 following a 130-pip rally to 1.3476, driven by key central bank decisions. The Bank of England kept rates at 3.75% with a hawkish 6–3 vote split, pointing to Middle East inflation risks.
• USD/CNH trades near 6.7452, touching a fresh multi-year low as broad dollar weakness supported the yuan.
• Gold slipped below $4,100, ending a two-session rally but remaining on track for its first monthly gain in five months. The Fed's decision provided some support, although 63% odds of a September rate hike limited upside.
• Silver dipped toward $58, snapping a two-day winning streak, but remains set to finish July virtually flat following a steep drop in June. The metal found underlying support after the Federal Reserve held interest rates unchanged despite geopolitical inflation risks.
• Bitcoin trades near $64,326, moving sideways after recovering from monthly lows around $57,200.
• Brent eased below $86 but remained on track for a monthly gain of more than 20%.
• The Nasdaq-100 traded near 28,106, extending its recovery above 28,000 as strong earnings from Microsoft eased concerns over AI spending.

Check more on zForex.com - Technical Outlook on Charts​

 

[zForex]

Eurozone Inflation Rises to 2.9%​

Eurozone inflation increased to 2.9% in July, up from 2.8% in June. The reading remains clearly above the ECB’s 2% target.

Energy was the main driver. Energy inflation climbed to 10%, supported by higher fuel prices and renewed supply concerns linked to US-Iran tensions.

Core inflation also rose to 2.5%, while services inflation reached 3.3%. This shows that price pressures are not limited to energy alone.

Food, alcohol, and tobacco inflation eased slightly, but the decline was not enough to offset higher energy and service costs.

The data supports a cautious ECB stance. Rates are likely to remain high, while another increase may return to the discussion if inflation continues to rise.

 

[zForex]

Diplomacy Lifts Markets (08.03.2026)​

US stock futures edged higher as attention shifted to another busy earnings week featuring Berkshire Hathaway, Eli Lilly, Caterpillar, McDonald's, Disney, Palantir, AMD, and SpaceX. Focus also turns to Friday's jobs report, while oil slipped after President Trump said Iran peace talks would resume.

Japan's 10-year yield climbed above 2.8%, a three-week high, as traders increased expectations for another BOJ rate hike. Governor Kazuo Ueda warned inflation risks require close attention, even as he expects underlying inflation to move toward the 2% target from the second half of FY2026.

The US 10-year Treasury yield eased to around 4.7% after reaching an 18-month high, with attention turning to a busy week of US labor data. The Fed held rates steady last week despite three dissents, while markets continue to price a 68% chance of a September hike.

The Dollar Index slipped toward 99.5, marking a fifth consecutive decline after Japan confirmed coordinated yen-buying with the US. BOJ data suggested intervention reached $58.97 billion on Thursday, while officials signaled they remain prepared to step in again if necessary.

Economic Calendar​

• EUR/USD trades around 1.1528, extending its recovery after breaking above key resistance. A weaker dollar following the Fed's rate decision, strong 0.4% Eurozone GDP growth, and easing Middle East tensions have supported the euro.
• The yen strengthened toward 155 per dollar, extending its rally to around 5% over three sessions after Japan confirmed coordinated currency intervention with the US Treasury.
• GBP/USD trends moderately higher near 1.3470, staying firm above key short-term moving averages. The Bank of England's rate hold at 3.75% provides underlying support against a broader dollar retreat, while improving geopolitical sentiment reduces safe-haven demand.
• USD/CNH traded near 6.7500, staying close to multi-month lows as a stronger daily PBOC fixing supported the yuan.
• Gold climbed above $4,050, recovering recent losses after President Trump said peace talks with Iran would resume, pushing oil prices lower and easing inflation concerns.
• Silver climbed above $58, regaining ground after announcements of renewed US-Iran peace talks pushed oil lower and tempered inflation fears. Regional allies urged diplomacy over military strikes, alongside calls to reopen the Strait of Hormuz.
• Brent traded near $85 as reports of recent US-Iran diplomacy and a possible Strait of Hormuz agreement weighed on prices.
• Bitcoin trades near $63,000, holding above $60,000 as buyers defend key support. Strategy's sale of 3,620 BTC challenged the company's long-standing "never sell" narrative, while weaker 1.5% US GDP growth added caution.
• The Nasdaq-100 traded near 28,106, extending its rebound above 28,000 after a sharp correction. Microsoft jumped 16%, its biggest gain since 2008, on strong cloud revenue, lifting semiconductor shares and easing concerns over AI spending.

Check more on zForex.com | Technical Outlook on Charts​

 

[zForex]

Central Bank Gold Buying Picks Up Again​

Central bank demand for gold rebounded strongly in the second quarter.



Global net purchases reached around 289 tonnes in Q2, taking the first-half total to 345 tonnes. Poland led the buying with 51 tonnes, lifting its reserves to a record 632 tonnes. Its next target is 700 tonnes.

The broader trend also remains supportive. Around 89% of central banks expect global gold reserves to keep rising.
The reasons are straightforward: diversify reserves, reduce dependence on the US dollar, and gain more protection against sanctions and geopolitical risk.