Daily Global Market Overview By zForex

[zForex]

Daily Analysis by zForex Research Team - 04.30.2025​

Markets Steady as Tariff Hopes Offset Dovish Signals​

The euro rebounded toward 1.1375 but remained range-bound as dovish ECB rhetoric capped the upside. The yen fell to 142.4 after weak Japanese data, while the pound slipped to 1.338, still near a two-year high, supported by limited UK tariff exposure.

Gold dipped below $3,310 as tariff fears eased, though the metal stayed on course for its fourth monthly gain. Silver slid with a stronger dollar, while key U.S. data looms.

EUR/USD Analysis by zForex Research Team - 04.30.2025​

EUR/USD Rebounds but Stays Range-Bound
EUR/USD bounced from nearly 1.1300 to 1.1375 but stayed range-bound as a modest dollar rebound caps gains. The euro is weighed by dovish ECB comments and growing June rate cut bets, while the dollar is supported ahead of key US data. ECB officials flagged easing inflation and trade risks. Still,

Trump’s trade stance and Fed cut hopes limit USD strength. Markets now await Eurozone inflation and GDP, plus US ADP jobs, Q1 GDP, and PCE data.
Key resistance is at 1.1460, followed by 1.1580 and 1.1680. Support lies at 1.1260, then 1.1200 and 1.1150.

Yen Analysis by zForex Research Team - 04.30.2025​

Yen Falls to 142.4 on Weak Data​

The Japanese yen fell to around 142.4 per dollar on Wednesday, its second day of losses, after weak March data showed industrial output and retail sales missed forecasts. Investors await the Bank of Japan's decision, with rates expected to stay at 0.5% and a cautious tone likely amid U.S. tariff risks. Meanwhile, U.S. Treasury Secretary Bessent said “substantial talks” with Japan are ongoing, increasing hopes for a trade deal.
Key resistance is at 144.00, with further levels at 145.90 and 146.75. Support stands at 139.70, followed by 137.00 and 135.00.

Post automatically merged: May 2, 2025

Daily Analysis by zForex Research Team - 05.01.2025​

USD Strength on Trade Sentiment Impacts Currencies
EUR/USD dropped to a two-week low near 1.1300 despite soft U.S. data, as hopes of potential trade deals lifted the dollar.

Gold extended its slide below $3,230 while silver steadied around $32.10 with weak U.S. growth and disappointing jobs data. GBP/USD also retreated slightly, weighed by a firmer dollar ahead of the U.S. non-farm payrolls report expected to influence Fed policy outlook.

EUR/USD Analysis by zForex Research Team - 05.01.2025​

EUR/USD Slides Below 1.1300
EUR/USD dropped 0.2% on Thursday to around 1.1300, hitting a two-week low. Despite weak U.S. data, investor sentiment shifted toward optimism on trade, lifting the dollar. Comments from President Trump about potential deals with China, Japan, South Korea, and India supported the greenback, adding pressure on the euro. The pair remains under short-term bearish pressure as markets await Friday’s U.S. non-farm payrolls, which may signal a potential slowdown in job growth.
Resistance levels are seen at 1.1460, then 1.1580 and 1.1680, while support rests at 1.1260, followed by 1.1200 and 1.1150.

Yen Analysis by zForex Research Team - 05.01.2025​

Yen Rises for Third Day as BoJ Holds Rates
USD/JPY rose to 143.4 on Thursday, marking its third straight daily gain as the yen weakened following the Bank of Japan's decision to keep rates at 0.5%. This was the second consecutive meeting with no changes, as policymakers assess the impact of U.S. tariffs on Japan’s exports.
The dollar also gained after Trump’s comments hinted at progress in trade talks with Japan, India, and South Korea, along with optimism about a deal with China.
Resistance is located at 145.90, followed by 146.75 and 149.80. On the downside, support levels are at 139.70, then 137.00 and 135.00.

 

[zForex]

Daily Analysis by zForex Research Team - 05.02.2025​

Trade Optimism Cools Demand for Havens​

The euro dipped to $1.13 after a strong April, while the yen hovered near 146 amid fading safe-haven demand. Gold and silver extended losses as President Trump voiced optimism over trade deals with key Asian partners, easing tariff concerns.

Despite a Q1 contraction in the U.S. economy, the dollar gained on renewed confidence. The British pound rose to $1.332, supported by lower tariff exposure and cautious BoE outlook.

Gold Analysis by zForex Research Team - 05.02.2025​

Gold Set for Second Weekly Loss on Trade Optimism​

Gold hovered near $3,250 on Friday, close to a two-week low and set for a second weekly loss, as easing trade tensions reduced safe-haven demand. China said it may start trade talks with the U.S., following Trump’s comments on potential deals with India, Japan, South Korea, and a "very good chance" with China. Trump also signed an order easing tariffs on autos and parts. U.S. data showed a Q1 economic contraction and flat March PCE inflation. Markets now await the nonfarm payrolls report for Fed policy signals.

Resistance is expected at $3,365, then $3,405 and $3,500. Support stands at $3,210, followed by $3,165 and $3,050.

Silver Analysis by zForex Research Team - 05.02.2025​

Silver Falls to $32 on Trade Optimism​

Silver fell over 1% to near $32 per ounce on Thursday, its third straight drop, as easing trade tensions reduced safe-haven demand. President Trump signaled possible trade deals with India, Japan, and South Korea, and voiced optimism about China. Silver’s industrial outlook also weakened after the U.S. economy shrank 0.3% in Q1. This was its first contraction in three years, and China’s NBS manufacturing PMI fell to a 16-month low, with export orders plunging most since 2022.

The first resistance is seen at $33.80, with higher levels at $34.20 and $34.85 if momentum builds. Support begins at $32.00, followed by $31.40 and $30.20.

 

[zForex]

Daily Analysis by zForex Research Team - 05.05.2025​

Euro and Metals Rise as Dollar Weakens Ahead of Fed Decision
The euro edged up to $1.1340 as the U.S. dollar weakened on expectations that the Federal Reserve will hold rates steady this week. The yen gained slightly amid ongoing trade talks and a dovish Bank of Japan outlook.
Gold climbed above $3,260 and silver rose 0.7% to $32.20, both supported by safe-haven demand and a softer dollar. Meanwhile, GBP/USD approached 1.329 as traders await Thursday’s BoE decision, with markets pricing in a rate cut.

EUR/USD Analysis by zForex Research Team - 05.05.2025​

Euro Rises as Fed Seen Holding Rates Steady
The euro rose 0.3% to around 1.1340, rebounding from last week’s low of 1.1266. The U.S. dollar weakened due to strength in Asian currencies, uncertainty over trade policy, and expectations that the Federal Reserve will keep rates unchanged this week. A June rate cut also looks less likely. Trading volumes remained low as Japan and China observed public holidays, limiting market movement.
Resistance levels are seen at 1.1460, then 1.1580 and 1.1680, while support rests at 1.1260, followed by 1.1200 and 1.1150.

GBP/USD Analysis by zForex Research Team - 05.05.2025​

GBP/USD Hits 1.329 Ahead of BoE Decision​

GBP/USD climbed to 1.329 today as the U.S. dollar weakened on speculation about Asian currency revaluations and cautious expectations for the Fed. Attention now turns to Thursday’s Bank of England meeting, where a 25 basis point rate cut is widely anticipated. Investors will look for guidance on further easing toward 3.50% by year-end. The pair also remains responsive to upcoming U.S. data, especially the ISM services report.
If GBP/USD breaks above 1.3430, the next resistance levels are 1.3500 and 1.3550. Support levels are at 1.3200, followed by 1.3050 and 1.2960.

 

[zForex]

Daily Analysis by zForex Research Team - 06.05.2025​

Markets Mixed Ahead of Fed: Gold Up, Euro Down​

The euro slipped to $1.1315 on Tuesday, pressured by dollar strength ahead of the Federal Reserve’s rate decision. The yen also weakened toward 144, while gold surged to nearly $3,360 as renewed tariff threats increased safe-haven demand.

Sterling dipped to $1.3265, awaiting both Fed and Bank of England policy updates. Silver remained steady at nearly $33 as global uncertainty persisted.

Yen Analysis by zForex Research Team - 06.05.2025​

Yen Slips Toward 144 on Stronger Dollar​

The Japanese yen edged lower toward 144 per dollar on Tuesday, as the U.S. dollar strengthened amid optimism over potential U.S.-China trade talks and investor caution ahead of the Federal Reserve’s policy decision. President Trump suggested a possible reduction in tariffs on Chinese goods. Meanwhile, the Bank of Japan held rates steady but revised its growth and inflation outlook. Trading activity remained subdued due to a public holiday in Japan.

Resistance is located at 145.90, followed by 146.75 and 149.80. On the downside, support levels are at 139.70, then 137.00 and 135.00.

Gold Analysis by zForex Research Team - 06.05.2025​

Gold Climbs on Safe-Haven Demand​

Gold climbed to nearly $3,360 per ounce on Tuesday, marking its highest level in over a week, as renewed tariff threats from President Trump increased safe-haven demand. Trump announced a 100% tariff on foreign films and signaled upcoming measures targeting pharmaceuticals. Investors are now focused on the Federal Reserve’s policy decision, with rates expected to stay unchanged despite Trump’s push for cuts.

Resistance is expected at $3,385, then $3,450 and $3,500. Support stands at $3,300, followed by $3,265 and $3,200.

 

[zForex]

Daily Analysis by zForex Research Team - 07.05.2025​

Global Markets Await Fed as Dollar Steadies​

The euro edged down to $1.1338 on Wednesday, pressured by political uncertainty in Germany and caution ahead of the Federal Reserve’s rate decision.

The yen reversed recent gains as optimism grew over U.S.-China trade talks, while gold and silver retreated on reduced safe-haven demand. The British pound held near $1.335 ahead of the Bank of England’s expected rate cut and forecasts.

EUR/USD Analysis by zForex Research Team - 07.05.2025​

Euro Slips to $1.1338 Ahead of Fed Decision​

The euro fell 0.2% to $1.1338 on Wednesday, retreating from recent gains amid political developments in Germany. Although the U.S. dollar remained under pressure due to global outflows and trade-related uncertainty, the euro lacked clear direction as markets awaited the Federal Reserve’s policy decision. With rates likely to remain unchanged, uncertainty around future cuts and U.S. inflation kept EUR/USD range-bound.
Resistance levels are seen at 1.1460, then 1.1580 and 1.1680, while support rests at 1.1260, followed by 1.1200 and 1.1150.

Gold Analysis by zForex Research Team - 07.05.2025​

Gold Falls Below $3,380 on Trade Talk Hopes​

Gold fell below $3,380 per ounce on Wednesday, ending a two-day rally, as news of an upcoming US-China meeting reduced safe-haven demand. The talks aim to ease trade tensions after last month’s tariff hikes by both nations. Investors now await the Federal Reserve’s policy decision and comments from Chair Powell, with rates expected to remain unchanged despite political pressure for cuts.
Resistance is expected at $3,460, then $3,500 and $3,550. Support stands at $3,350, followed by $3,300 and $3,265.

 

[zForex]

Daily Analysis by zForex Research Team - 08.05.2025​

Traders Weigh BoE Cut and Trade Announcements​

The EUR/USD pair hovered above 1.1300 with reduced political uncertainty in Europe. The Japanese yen firmed to 143.6 per dollar as global trade tensions renewed precious metals interest and BoJ minutes signaled cautious openness to further hikes.

Gold slipped to $3,360 as the Fed held rates and dismissed preemptive cuts, though trade risks limited losses. GBP/USD remained steady near 1.33 ahead of a likely BoE rate cut, with optimism around a new UK-India trade deal offering support.

Yen Analysis by zForex Research Team - 08.05.2025​

Yen Firms with BoJ Caution​

The Japanese yen strengthened to around 143.6 per dollar on Thursday, recovering as rising global trade uncertainty stimulated demand for gold. The move followed President Trump’s announcement of a deal with a “big” country, reportedly the UK, and his refusal to cut tariffs on China ahead of U.S.-China talks in Switzerland. U.S.-Japan negotiations continue, with Tokyo aiming to finalize a bilateral deal by June. Meanwhile, BoJ minutes showed policymakers remain open to rate hikes if inflation targets are met, though they flagged external risks from U.S. trade policy.
Resistance stands at 145.90, with further levels at 146.75 and 149.80. Support is found at 139.70, then 137.00 and 135.00.

Silver Analysis by zForex Research Team - 08.05.2025​

Silver Slips as Fed Holds Rates​

Silver rose more than 1% to approach the $33 mark on Thursday, supported by renewed interest on precious metals with ongoing trade and economic uncertainty. The Federal Reserve left interest rates unchanged, with Chair Powell citing heightened risks while dismissing the need for early rate cuts. Sentiment was also influenced by President Trump’s announcement of an imminent trade deal, reportedly with the UK, and his firm stance on maintaining tariffs against China ahead of upcoming negotiations.
Technically, resistance is seen at $33.80, followed by $34.20 and $34.85, while support levels are noted at $32.00, $31.40, and $30.20.

 

[zForex]

Daily Analysis by zForex Research Team - 09.05.2025​

Dollar Gains Ground Before US-China Talks​

EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback.

EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback. Gold and silver both eased, with gold dipping toward $3,290 and silver trading near $32.50 on waning safe-haven demand. GBP/USD held around 1.3240 after initial gains from a BoE rate cut faded with concerns over lingering US tariffs.

EUR/USD Analysis by zForex Research Team - 09.05.2025​

Euro Nears 1.1230 on Cautious ECB​

EUR/USD edged up to 1.1230 in Friday’s Asian session, paring earlier losses caused by stronger U.S. data and easing trade tensions that supported the dollar. The euro remains under pressure as markets price in possible ECB rate cuts by June, though officials maintain confidence in inflation reaching the 2% target by year-end.
The pair faces resistance at 1.1260, with further upside capped near 1.1460 and 1.1580. On the downside, support is seen at 1.1150, followed by 1.1100 and 1.1050.

Gold Analysis by zForex Research Team - 09.05.2025​

Gold Slips Toward $3,290 on Trade Optimism​

Gold extended losses for a third day, dropping toward $3,290 as market appetite for risk improved ahead of U.S.-China trade talks. The announcement of a U.S.-UK trade deal also contributed to reduced safe-haven demand. The Fed held rates steady as expected, warning of risks to inflation and jobs but avoiding any hint of preemptive cuts. Still, gold is poised for a weekly gain.
Resistance is seen at $3,360, $3,430, and $3,500, while support holds at $3,270, $3,200, and $3,165.

 

[zForex]

Daily Analysis by zForex Research Team - 14.05.2025​

Soft CPI Lifts EUR, Weighs on USD
Soft U.S. inflation data weakened the dollar and lifted risk sentiment. EUR/USD climbed toward 1.1200, supported by falling U.S. CPI, while USD/JPY slipped toward 147 as the yen rebounded.

Gold dipped below $3,230 despite Fed rate cut bets, and silver retreated to mid-$31s after briefly breaching $33. GBP/USD held firm near 1.3300, steadying after tariff relief and ahead of key UK growth data.

EUR/USD Analysis by zForex Research Team - 14.05.2025​

EUR/USD at 1.1200 as Dollar Weakens on Soft CPI
EUR/USD climbed to around 1.1195 in Wednesday’s Asian session, recovering after a sharp 2.5% drop. The rebound followed underperforming U.S. CPI data for April, with annual inflation slowing to 2.3% from 2.4%, the lowest since February 2021.
Core CPI remained steady at 2.8%, in line with expectations. The softer data pressured the U.S. dollar and lifted the euro. Attention now shifts to Germany’s HICP release for fresh direction.
The pair faces resistance at 1.1260, with further upside at 1.1460 and 1.1580, while support sits at 1.1040, followed by 1.1000 and 1.0960.

Gold Analysis by zForex Research Team - 14.05.2025​

Gold Under $3,230 with Risk-On Mood
Gold edged lower to around $3,230 in Wednesday’s session, facing selling pressure after optimism over a U.S.-China trade breakthrough reduced safe-haven demand. The recent tariff agreement lifted broader market sentiment, keeping gold near its weekly lows.
However, softer U.S. inflation data raised expectations for potential Fed rate cuts, slightly supporting the non-yielding metal. Traders await a firm break below the $3,200 level for signs of deeper downside.
Gold sees resistance at $3,325, $3,360, and $3,440, while support is held at $3,235, $3,200, and $3,165.

 

[zForex]

Daily Analysis by zForex Research Team - 15.05.2025​

Inflation Softens and Trade Momentum Builds​

The euro regained ground near 1.1200, supported by reserve status momentum and a weaker dollar, while the Japanese yen strengthened on growing pressure to eliminate U.S. car tariffs.

Gold hovered near $3,155 after a sharp drop, weighed by improved risk appetite, and silver slipped below $31.90 despite soft inflation data aiding foreign demand. Meanwhile, GBP/USD climbed toward 1.3300, supported by easing U.S. tariffs on British goods and expectations for key UK GDP data.

USD/JPY Analysis by zForex Research Team - 15.05.2025​

Japan Pushes Back on Auto Tariffs​

The Japanese Yen strengthened to around 146 per dollar, marking its third straight gain as global trade concerns weighed on the U.S. Dollar. Asian currencies broadly rose with speculation that the U.S. may be favoring a weaker Dollar to aid trade talks. Trump’s administration argues that undervalued Asian currencies create unfair competition for American exporters.

Meanwhile, Japan continues U.S. trade negotiations, with PM Shigeru Ishiba pushing for a deal that includes the auto sector and the removal of the 25% car tariff.
USD/JPY faces resistance at 148.60, with further levels at 149.80 and 151.20. Major support is seen at 139.70, then 137.00, and 135.00.

EUR/USD Analysis by zForex Research Team - 15.05.2025​

Euro Rises Near 1.1200 on Reserve Status​

EUR/USD traded around 1.1200 during Thursday’s Asian session, rebounding ahead of the Eurozone’s Q1 2025 GDP report. The Euro remains supported by its rising role in global reserves, with Capital Economics noting its strongest position in years. U.S. policies under President Trump set this shift in motion, which is seen as weakening the dollar’s appeal as a popular asset. Germany’s increased fiscal spending has also lifted euro demand.

Despite ECB officials signaling more rate cuts, the Euro holds steady against a softer U.S. Dollar, which remains pressured by lingering trade uncertainty. Markets are now focused on U.S. retail sales and PPI data, while speculation grows that the U.S. might allow a weaker Dollar to aid exports.
EUR/USD faces resistance at 1.1260, with further upside near 1.1460 and 1.1580. Support begins at 1.1040, followed by 1.1000 and 1.0960.

 

[zForex]

Daily Analysis by zForex Research Team - 16.05.2025​

Gold and Silver Diverge as Risk Appetite Returns​

The euro advanced near $1.12 as the dollar softened, even as ECB rate cut bets remained firmly priced in. The yen strengthened for a fourth straight day despite a contraction in Japan’s Q1 GDP.
Gold hovered around $3,220, pressured by improved risk appetite. The pound climbed past $1.33 after strong UK GDP figures, while silver dipped to $32.50 amid reports of new U.S. sanctions on Chinese semiconductor firms, weakening its industrial demand outlook.

GBP/USD Analysis by zForex Research Team - 16.05.2025​

Pound Gains on Strong UK GDP​

The British pound climbed to $1.3320 on Friday after strong UK GDP data showed the economy grew 0.7% in Q1 and 1.3% year-over-year, easing pressure on the Bank of England to cut rates aggressively. While a cut is still likely, the solid growth figures suggest urgency has diminished. At the same time, a softer U.S. dollar, driven by speculation that the U.S. may be allowing depreciation to support exports, has supported sterling. However, the UK’s broader outlook remains mixed, with rising unemployment and slowing wage growth signaling uneven momentum.
GBP/USD faces resistance at 1.3350, with additional levels at 1.3450 and 1.3550. Support levels are at 1.3160, 1.3000, and 1.2960.

Gold Analysis by zForex Research Team - 16.05.2025​

Gold Slides Toward $3,220
Gold fell to approximately $3,220 per ounce, on track for a weekly loss of more than 3% as appetite for the precious metal diminished with easing global trade tensions. The 90-day tariff truce between the U.S. and China reduced fears of a drawn-out trade war, while geopolitical concerns also eased with a stable India-Pakistan ceasefire.
Talks between Russia and Ukraine are losing momentum. Although soft U.S. inflation data has reinforced expectations for at least two Federal Reserve rate cuts this year, Fed Chair Powell cautioned that future inflation may be volatile due to persistent supply shocks.
Key support is located at $3,120, followed by $3,030 and $2,956. Resistance levels are seen at $3,250, then $3,300 and $3,350.