Daily Market Analysis By zForex

[zForex]

Daily Analysis By zForex Research Team - 03.03.2025​

Euro Rises on Ukraine Peace Talks, Dollar Weakens​

The euro rebounded to $1.04 as EU leaders prepared a Ukraine peace proposal for the U.S., supporting sentiment.

Meanwhile, the U.S. dollar eased as investors weighed tariff uncertainty, with Commerce Secretary Howard Lutnick suggesting possible revisions. The yen strengthened as the BOJ maintained its hawkish stance, while gold and silver saw gains amid trade and inflation concerns. Market focus now shifts to the ECB meeting, where another rate cut is expected.

GBP/USD Analysis By zForex Research Team - 03.03.2025​

GBP Drops Despite Strong Inflation and Retail Sales Data​

The British pound fell to $1.265 as February PMI data showed business activity stalled for the fourth straight month, with rising job losses from weaker sales and higher costs. Concerns over stagflation complicate the BoE’s outlook, though sterling remains up 0.5% for the week after strong inflation data. UK retail sales beat expectations, and January's budget surplus reached £15.4 billion, below the £20.3 billion forecast. GfK’s consumer confidence index stayed negative but improved across key metrics.

The first resistance level for the pair will be 1.2680. In the event of this level's breach, the next levels to watch would be 1.2720 and 1.2770. On the downside 1.2500 will be the first support level. 1.2435 and 1.2350 are the next levels to monitor if the first support level is breached.

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Gold Analysis By zForex Research Team - 03.03.2025​

Gold Gains Amid U.S. Tariff Plans and Weaker Dollar​

Gold rose above $2,860 per ounce on Monday. Trump’s planned tariffs on Mexico, Canada, and China fueled safe-haven demand. The planned tariffs on Mexican and Canadian goods, are set to take effect on March 4, along with an additional 10% duty on Chinese imports. Fears of retaliation and inflationary effects increased gold’s appeal, while a weaker U.S. dollar made it more attractive for foreign buyers. Growing concerns over the U.S. economy also reinforced expectations of Fed rate cuts, adding to gold’s strength as a non-yielding asset.

Key resistance stands at $2,880, with further levels at $2,917 and $2,949. Support is at $2,830, followed by $2,790 and $2,760.

 

[zForex]

Daily Analysis By zForex Research Team - 03.04.2025​

EUR/USD Rises on Fiscal Spending, Yen Nears 149​

EUR/USD rose to 1.047 on optimism over a Ukraine peace deal and European fiscal spending, though gains were capped ahead of the U.S. jobs report.

The Japanese yen strengthened toward 149 per dollar while the BOJ is expected to maintain rate hikes. Gold held at $2,880 per ounce, supported by trade war concerns and weak U.S. factory data. GBP/USD surpassed $1.27, driven by UK-Ukraine support and hopes of a U.S.-UK trade deal. Silver also gained, climbing above $31.6 per ounce.

EUR/USD Analysis By zForex Research Team - 03.04.2025​

Ukraine and Spending Lift EUR/USD​

EUR/USD rose to 1.047, supported by optimism over a Ukraine peace deal and increased European fiscal spending. The dollar weakened due to Fed rate cut expectations with U.S. economic concerns and a sharper manufacturing slowdown.

Gains were limited as traders awaited Friday’s non-farm payrolls report for labor market signals. A weak report could boost Fed cut bets, pressuring the dollar and lifting EUR/USD, while strong data may cap gains. Geopolitical developments and potential ECB policy shifts also remain key.

Key resistance is at 1.0530, followed by 1.0600 and 1.0660. Support stands at 1.0450, with further levels at 1.0350 and 1.0275.

USD/JPY Analysis By zForex Research Team - 03.04.2025​

Yen Strengthens, BOJ Normalization in Focus​

The Japanese yen strengthened toward 149 per dollar, nearing a five-month high. Trump confirmed 25% tariffs on Mexico and Canada, along with a 10% duty on Chinese goods.

The yen also gained on weak U.S. data, increasing Fed rate cut expectations, while the BOJ is predicted to continue rate hikes amid strong economic conditions. However, Japan’s unemployment rate rose to 2.5% in January from 2.4%, and Q4 capital spending declined.

Key resistance is at 154.90, with further levels at 156.00 and 157.00. Support stands at 148.60, followed by 147.10 and 145.80.

 

[zForex]

Daily Analysis By zForex Research Team - 03.05.2025​

Dollar Weakness and Trade Fears Shape Markets​

EUR/USD surged 1.4% as the dollar weakened, while the yen fell despite hawkish BOJ remarks.

Gold dipped below $2,910 due to rising U.S. Treasury yields but remained supported. The British pound climbed to $1.2795 as the Bank of England signaled a cautious approach to rate cuts. Meanwhile, silver gained 0.5%, driven by trade uncertainties and a weaker dollar. Traders now focus on the ECB decision and U.S. jobs data for further market direction.

EUR/USD Analysis By zForex Research Team - 03.05.2025​

EUR/USD Soars, Eyes ECB and NFP​

EUR/USD surged 1.4% on Tuesday, gaining 140 pips as the US Dollar weakened on speculation that Trump may reverse his tariff stance. Despite imposing 25% tariffs on Canadian and Mexican imports at midnight EST, he hinted at a possible adjustment. Early risk aversion faded as markets bet on a policy shift, with Commerce Secretary Lutnick suggesting Trump could announce changes on Wednesday.

With limited European data midweek, the focus shifts to Thursday’s ECB policy decision and Friday’s US Nonfarm Payrolls (NFP) report. The NFP is key amid trade war concerns, while Wednesday’s ADP Employment Change (forecast: 140K vs. previous 183K) and ISM Services PMI (expected 52.6 vs. 52.8) will provide early signals. The ECB is expected to cut rates by 25 basis points, lowering the Main Refinancing Rate to 2.65% and the Deposit Facility Rate to 2.5% to counter recession risks.

Key resistance is at 1.0660, followed by 1.0690 and 1.0810. Support stands at 1.0520, with further levels at 1.0450 and 1.0350.

GBP/USD Analysis By zForex Research Team - 03.05.2025​

Pound Rises on Cautious BOE Stance​

The British pound climbed to $1.2795 as the Bank of England maintained a cautious approach to monetary policy. While inflation risks are not an immediate concern, strong UK wage growth continues to support inflationary pressures, suggesting that any rate cuts will be gradual. Despite a February rate cut, Q4 growth, high December wages, and strong January CPI indicate that policymakers may lean more hawkish in the coming months.

If GBP/USD breaks above 1.2835, the next resistance levels are 1.2920 and 1.2980. On the downside, support stands at 1.2760, with further levels at 1.2660 and 1.2600 if selling pressure increases.

 

[zForex]

Daily Analysis By zForex Research Team - 03.06.2025​

Euro Rises on EU Defense Plan & Gold Gains on Trade Uncertainty​

The euro surged to a four-month high as the EU proposed an €800 billion defense plan, increasing investor confidence.

Meanwhile, gold neared record highs amid U.S. tariff uncertainty and a weaker dollar. The yen remained steady on growing BOJ rate hike expectations, while the pound gained on a strong UK rate outlook. The market focus now shifts to the upcoming ECB meeting and the U.S. nonfarm payroll report.

EUR/USD Analysis By zForex Research Team - 03.06.2025​

ECB Rate Cut Expected as EU Unveils €800B Defense Plan​

The euro neared $1.08, a four-month high, as increased defense spending and borrowing strengthened Eurozone optimism. Germany’s CDU/CSU and SPD agreed to exceed 1% of GDP in defense spending and create a €500 billion off-budget fund. EU plans to mobilize €800 billion for defense, with €150 billion in loans and more fiscal flexibility. The ECB is expected to cut rates for the fifth time this week.

Key resistance is at 1.0840, followed by 1.0900 and 1.0950. Support stands at 1.0760, with further levels at 1.0700 and 1.0650.

Gold Analysis By zForex Research Team - 03.06.2025​

Safe-Haven Demand Lifts Gold Amid US Tariff Uncertainty​

Gold rose above $2,920 per ounce, nearing record highs, as a weaker dollar and trade uncertainty drove safe-haven demand. Trump granted US automakers a one-month exemption from 25% Canada-Mexico tariffs and hinted at more changes. A US official suggested lifting the 10% tariff on Canadian energy if trade conditions are met. Meanwhile, China filed a revised WTO complaint in response to new US tariffs. Investors await the non-farm payrolls report for Fed policy signals.

Key resistance stands at $2,923, with further levels at $2,955 and $3,000. Support is at $2,860, followed by $2,830 and $2,790.

 

[zForex]

Daily Analysis By zForex Research Team - 03.07.2025​

Euro Gains Post-ECB, Yen Holds Firm​

The euro surged above $1.08 after the ECB's 25bps rate cut, while the yen held strong at 149 per dollar as the dollar weakened.

Gold remained around $2,900 with tariff uncertainty and mixed U.S. labor data. GBP/USD traded near 1.2880, awaiting the NFP report, while silver extended its rally past $32, driven by a weaker dollar and trade concerns.

GBP/USD Analysis By zForex Research Team - 03.07.2025​

GBP/USD at 1.2880, Awaits NFP Report​

GBP/USD holds modest gains around 1.2880 in Friday’s Asian session, recovering from the previous decline as investors await the US Nonfarm Payrolls (NFP) report. Meanwhile, the US Dollar Index (DXY) extends its five-day decline, pressured by falling Treasury yields, with the 2-year at 3.94% and the 10-year at 4.24%. Markets increasingly expect the Federal Reserve to adopt a more aggressive rate-cutting stance due to economic growth concerns.

Analysts at MUFG Bank suggest the Fed may shift focus from inflation control to economic growth, especially amid tariff uncertainties. Consumer confidence has weakened, reflecting rising household concerns.

In the UK, expectations for BoE rate cuts in 2025 have dropped below 50 basis points. BoE’s Catherine Mann stated that gradual rate changes are ineffective in volatile markets, advocating for larger cuts to provide clearer policy signals.

If GBP/USD breaks above 1.2920, the next resistance levels are 1.2980 and 1.3050. On the downside, support stands at 1.2860, with further levels at 1.2760 and 1.2660 if selling pressure increases.

Yen Analysis By zForex Research Team - 03.07.2025​

Yen Benefits from Dollar's Broad Retreat​

The Japanese yen held around 149 per dollar, its strongest in five months, benefiting from the dollar’s decline on a stronger euro and Trump’s tariff policies. His selective tariff exemptions and retaliatory measures weakened the dollar further.

Domestically, BOJ Deputy Governor Shinichi Uchida suggested possible rate hikes if economic projections align but emphasized that Japan’s monetary conditions remain highly accommodative, with only minimal reductions in government bond holdings.

Key resistance is at 152.00, with further levels at 154.90 and 156.00. Support stands at 147.10, followed by 145.80 and 143.00.

 

[zForex]

Daily Analysis By zForex Research Team - 03.10.2025​

Gold Awaits NFP, Yen Hits Five-Month High​

EUR/USD rose on US slowdown concerns and German fiscal reforms, while the yen strengthened past 148.
Gold remained steady at around $2,900 with mixed US labor data. GBP/USD climbed near a four-month high, supported by weak US jobs data and expectations of a gradual BoE rate path. Meanwhile, silver declined for a third session, pressured by weak Chinese inflation data but supported by rising trade tensions.

EUR/USD Analysis By zForex Research Team - 03.10.2025​

Eurozone Optimism Drives EUR/USD​

EUR/USD started the week on a positive note, trading around 1.0860 in Monday’s Asian session, driven by concerns over a potential US economic slowdown. San Francisco Fed President Mary Daly warned that rising business uncertainty could weaken demand but saw no immediate need for rate changes.

On Friday, US Nonfarm Payrolls (NFP) rose by 151,000 in February, below the expected 160,000, with January’s job growth revised down to 125,000. Weak labor data could pressure the US Dollar, supporting EUR/USD.

Meanwhile, US Commerce Secretary Howard Lutnick confirmed that Trump’s 25% tariffs on steel and aluminum imports will take effect Wednesday. While US steelmakers back the tariffs, higher material costs could impact businesses, potentially limiting EUR/USD gains.

The Euro found support from Germany’s proposed fiscal reforms, including revisions to the debt brake and a €500 billion infrastructure plan. Additionally, European leaders agreed to promote defense spending. The ECB’s predicted 25bps rate cut signaled a shift toward a less restrictive policy, with markets expecting one or two more cuts this year.

Key resistance is at 1.0850, followed by 1.0900 and 1.0950. Support stands at 1.0730, with further levels at 1.0700 and 1.0650.

Gold Analysis By zForex Research Team - 03.10.2025​

Gold Steady on Trade and Labor Data​

Gold hovered around $2,900 per ounce, set for a weekly gain. While Trump temporarily paused 25% tariffs on most Canadian and Mexican goods, Canada’s retaliatory tariffs remain, and China’s countermeasures take effect next week.

U.S. labor data showed mixed signals as layoffs hit a 2020 high per the Challenger report, while jobless claims fell more than expected. Investors now await the non-farm payrolls report for further labor market insights and potential Fed policy impact.

Key resistance stands at $2,923, with further levels at $2,955 and $3,000. Support is at $2,860, followed by $2,830 and $2,790.

 

[zForex]

Daily Analysis By zForex Research Team - 03.11.2025​

Markets Eye JOLTS Report as Recession and Trade Concerns Grow​

After the growth data below expectations from Japan earlier today, the first event to watch will be the Eurogroup meetings. However, the market will mainly focus on the JOLTS Job Openings report, which will be released at 14:00 GMT.

In a Fox News interview, Trump dismissed recession fears as a "transition period" but later admitted the U.S. might face a "rough patch." His administration blamed inflation and market instability on Biden, avoiding its own tariff impact.

San Francisco Fed President Mary Daly, speaking late on Sunday, mentioned that rising uncertainty among businesses could weaken demand in the U.S. economy, but emphasized that this did not warrant a change in interest rates.

On Friday, the U.S. Bureau of Labor Statistics (BLS) reported that nonfarm payrolls increased by 151,000 in February, falling short of the expected 160,000. January's job growth was also revised down from 143,000 to 125,000.

U.S. Commerce Secretary Howard Lutnick stated on Sunday that the 25% tariffs on steel and aluminum imports, imposed by President Donald Trump in February, will go into effect on Wednesday and will not be delayed.

Looking at bonds, we can see pullbacks in the U.S. 2- and 10-year yields, while German 10-year yields have stabilized around 2.81%. Chinese 10-year yields have risen from historic lows of 1.60% to around 1.90%, continuing their upward trend.

GBP/USD Analysis By zForex Research Team - 03.11.2025​

UK Budget Forecasts and GDP Data Set to Shape Pound’s Next Move​

The pound hovered around $1.29, staying near a four-month high as dollar weakness persisted amid U.S. economic concerns and tariff risks. Sterling remained supported by expectations that UK interest rates will stay high, with traders adjusting BoE rate cut forecasts to 52 bps for 2025. Investors now await January GDP data for economic insights, while the UK’s budget watchdog will release updated economic and borrowing forecasts on March 26, potentially influencing market sentiment.

If GBP/USD breaks above 1.2920, the next resistance levels are 1.2980 and 1.3050. On the downside, support stands at 1.2860, with further levels at 1.2760 and 1.2660 if selling pressure increases.

Yen Analysis By zForex Research Team - 03.11.2025​

Safe-Haven Yen Gains on Economic Risks, BOJ Policy Uncertainty​

The yen rose to 147 per dollar, its strongest in five months, as US recession fears fueled safe-haven demand. Trump acknowledged economic risks, while Japan’s GDP growth was revised down to 2.2% from 2.8% due to weak consumption. The BOJ is expected to hold rates in March but may hike later this year. Finance Minister Kato warned of the real-world impact of FX volatility.

Key resistance is at 149.20, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00.

 

[zForex]

Daily Analysis By zForex Research Team - 03.12.2025​

Dollar Decline Drives Gains Across Markets​

The euro surged past $1.09, driven by deficit spending plans and ECB signals of a less restrictive policy.

The yen strengthened to 147 per dollar as US recession fears increased safe-haven demand, while Japan’s GDP growth slowed. Gold held above $2,910, supported by trade tensions and Fed rate expectations. GBP remained near $1.29, benefiting from dollar weakness and expectations of slower BoE rate cuts. Silver surged to nearly $33 as investors expected a Fed rate cut following weak US economic data.

EUR/USD Analysis By zForex Research Team - 03.12.2025​

Eurozone Spending Plans Boost Euro​

The euro surged past $1.09, its highest in four months, gaining 5% since early March. This rally was driven by Eurozone plans to expand deficit spending, stimulating growth prospects. Germany pushed for a €500 billion infrastructure fund, while France and Italy supported joint EU funding for economic and military initiatives.

The ECB signaled a shift toward a less restrictive policy after last week’s rate cut, suggesting the easing cycle may be nearing its end. Meanwhile, US economic concerns pressured the dollar, further lifting the euro.

Key resistance is at 1.0950, followed by 1.1000 and 1.1050. Support stands at 1.0800, with further levels at 1.0730 and 1.0650.

Yen Analysis By zForex Research Team - 03.12.2025​

Yen's Rise and the Risk of Currency Volatility​

The Japanese yen strengthened to 147 per dollar on Tuesday, its highest in five months, as US recession fears drove investors to long-term trusted assets. Trump's reluctance to dismiss recession risks, along with trade policy uncertainty, added to yen demand.

Japan's economic outlook weakened as Q4 GDP growth was revised down to 2.2% from 2.8%, reflecting weak private consumption. Despite this, the BOJ is expected to keep rates steady in March, with potential hikes later. Finance Minister Shunichi Kato cautioned against excessive currency volatility amid the yen’s rapid gains.

Key resistance is at 149.20, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00.

 

[zForex]

Daily Analysis By zForex Research Team - 03.13.2025​

Gold and Silver Gain on Fed Speculation​

EUR/USD fell to 1.0880 amid US-EU tariff disputes but found support as US recession concerns weighed on the dollar.

The yen stabilized at 148 as BOJ rate hike expectations offset trade risks. Gold surged to $2,940, nearing record highs with weaker US inflation. GBP/USD climbed to 1.2960 as slowing inflation fueled Fed rate cut speculation. Silver extended its rally to $33.30.

GBP/USD Analysis By zForex Research Team - 03.13.2025​

GBP/USD Climbs to 1.2960, Dollar Under Pressure​

GBP/USD trades around 1.2960 in Thursday’s Asian session, extending gains for a third day as the US Dollar weakens with recession fears linked to Trump’s policies.

The dollar faces further pressure after February inflation slowed more than expected, raising speculation of an earlier Fed rate cut. Headline inflation fell from 0.5% to 0.2% monthly and from 3.0% to 2.8% yearly, while core inflation dropped to 0.2% monthly and 3.1% yearly. Markets now await US PPI and jobless claims data for further economic signals.

If GBP/USD breaks above 1.2980, the next resistance levels are 1.3050 and 1.3100. On the downside, support stands at 1.2860, with further levels at 1.2760 and 1.2660 if selling pressure increases.

Gold Analysis By zForex Research Team - 03.13.2025​

Lower US Inflation Drives Gold's Surge​

Gold surged to around $2,940 per ounce on Thursday, nearing record highs as escalating trade tensions boosted safe-haven demand. Trump threatened more tariffs on EU goods after retaliatory measures from the EU and Canada, while Commerce Secretary Lutnick confirmed planned trade protections on copper.

Meanwhile, US inflation data came in lower than expected, easing concerns and giving the Fed more room for a less restrictive policy. However, the long-term impact of tariffs remains uncertain, with inflation risks still looming.

Key resistance stands at $2,955, with further levels at $2,980 and $3,000. Support is at $2,860, followed by $2,830 and $2,790. 

 

[zForex]

Daily Analysis By zForex Research Team - 03.14.2025​

Markets Eye Trade Tensions, Inflation as Gold Hits Record​

Markets remain volatile as trade tensions and inflation concerns dominate sentiment.

The U.S. dollar strengthened amid renewed tariff threats from President Trump, while the euro slipped ahead of key economic data releases. Gold surged past $2,980, reaching a record high, as investors sought safe-haven assets amid growing expectations of Fed rate cuts. The yen weakened slightly but held near a five-month high, supported by speculation of future BOJ rate hikes. Meanwhile, silver hovered around $33.80, with softer U.S. inflation data keeping rate cut bets intact. Traders now focus on upcoming economic reports and central bank signals for further market direction.

EUR/USD Analysis By zForex Research Team - 03.14.2025​

Euro Weakens Against USD Ahead of Key Economic Data​

The EUR/USD pair declined to around 1.0835 during Friday’s Asian session, as the Euro (EUR) weakened against the US Dollar (USD) amid rising trade tensions between the U.S. and the European Union. Later in the day, market focus will shift to key economic releases, including Germany’s February Harmonized Index of Consumer Prices (HICP) and the preliminary Michigan Consumer Sentiment Index for March.

Key resistance is at 1.0950, followed by 1.1000 and 1.1050. Support stands at 1.0800, with further levels at 1.0730 and 1.0650.  

Silver Analysis By zForex Research Team - 03.14.2025​

Silver Holds Near $33.80 as Fed Rate Cut Bets Provide Support​

Silver edged lower to approximately $33.80 during early Asian trading on Friday, losing momentum. However, the downside may remain limited, as softer U.S. consumer and producer inflation data could provide room for the Federal Reserve to consider an interest rate cut in June, offering some support for the metal.

Additionally, concerns over U.S. President Donald Trump's protectionist policies potentially pushing the world's largest economy into a recession could further support silver's appeal.

If silver breaks above $34.00, the next resistance levels are $34.85 and $35.00. On the downside, support is at $33.80, with further levels at $33.15 and $32.75 if selling pressure increases. 

 

[zForex]

Daily Analysis By zForex Research Team - 03.17.2025​

Markets React to US Inflation, Trade, and Rate Expectations​

Markets reacted to trade tensions, monetary policy expectations, and economic data.
Gold hit a record $2,980, driven by risk aversion and Fed rate cut speculation. Euro neared $1.09 as Germany finalized debt reform, while the yen traded near five-month highs on BOJ rate hike expectations. The pound fell to $1.29 after UK GDP unexpectedly contracted, while silver surged to $33.90 on weak U.S. inflation data and rising trade tensions.

EUR/USD Analysis By zForex Research Team - 03.17.2025​

Euro Climbs on German Deal, Awaits Fitch Rating​

The euro climbed toward $1.09, nearing its highest since early November, as Germany agreed on debt reform and increased spending. Chancellor-elect Friedrich Merz secured a deal with the Green and Social Democrat parties ahead of next week’s parliamentary vote.

Markets await Fitch’s rating decision on France, which is due after Friday’s close. Meanwhile, trade tensions rose as Trump threatened a 200% tariff on European wines in response to the EU’s tax on American whiskey. On geopolitics, Trump called his talks with Putin on Ukraine “very good,” expressing optimism for a resolution.

Key resistance is at 1.0950, followed by 1.1000 and 1.1050. Support stands at 1.0800, with further levels at 1.0730 and 1.0650.  

Gold Analysis By zForex Research Team - 03.17.2025​

Gold's Record Week: $2,980 Milestone​

Gold surged above $2,980 per ounce, hitting a record and heading for a 2% weekly gain as risk aversion and Fed rate cut expectations grew. Trump escalated trade tensions, threatening a 200% tariff on European wines after the EU's 50% tax on U.S. whiskey.

February's PPI and CPI data showed easing inflation, increasing Fed flexibility for rate cuts, and raising gold's appeal. Strong ETF inflows and continued central bank purchases, with China extending its buying for a fourth month, further supported prices.

Key resistance stands at 3000, with further levels at 3045 and 3100. Support is at 2980, followed by 2916 and 2885.  

 

[zForex]

Daily Analysis By zForex Research Team - 03.18.2025​

Gold Surges Past $3,000, Silver Rallies as Trade Risks Mount​

Markets remain volatile as trade tensions and central bank policies drive investor sentiment.
Gold soared past $3,000 per ounce, hitting a record high amid Fed uncertainty and geopolitical risks, while silver surged to its highest since October. The U.S. dollar held steady as traders awaited key economic data, while EUR/USD slipped on U.S.-EU tariff concerns. The yen weakened ahead of the BoJ meeting, and the pound remained near four-month lows as BoE rate hold expectations weighed on sentiment.

GBP/USD Analysis By zForex Research Team - 03.18.2025​

Pound Steady Near Four-Month Low Amid BoE Rate Hold Expectations​

The pound traded at $1.294, near a four-month low, as investors awaited the BoE's Thursday decision. The central bank is expected to hold rates at 4.5%, balancing weak growth and inflation risks. Despite forecasts for 2025 rate cuts, none are expected now. The UK labor market is weakening, with unemployment set to hit 4.5% and wage growth slowing. Markets also await Chancellor Reeves’ Spring Statement on March 26 for economic updates. In trade talks, the UK is taking a softer stance with the US than the EU.

If GBP/USD breaks above 1.3050, the next resistance levels are 1.3100 and 1.3150. On the downside, support stands at 1.2860, with further levels at 1.2800 and 1.2715 if selling pressure increases.

USD/JPY Analysis By zForex Research Team - 03.18.2025​

Japanese Yen Hits Two-Week Low Before BoJ Meeting​

The yen fell past 149.5 per dollar, a two-week low, ahead of the BoJ's policy decision. The central bank is expected to hold rates at 0.5% on Wednesday while assessing U.S. policy impacts. Despite a pause, rate hikes are anticipated later this year as rising wages and inflation support policy normalization. Major firms agreed to wage hikes for the third straight year, increasing consumer spending and inflation.

Key resistance is at 150.30, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00. 

 

[zForex]

Daily Analysis By zForex Research Team - 03.19.2025​

Markets Keep Cautious Ahead of Fed​

Markets remain cautious ahead of the Federal Reserve’s rate decision, with investors closely watching Powell’s speech for policy guidance.

Gold continues to trade above $3,030 amid safe-haven demand, while silver approaches $34 on rising geopolitical tensions and trade uncertainties. The U.S. dollar holds firm, pressuring EUR/USD lower, while the yen weakens after the BoJ maintained its policy stance. Meanwhile, the British pound slipped as markets await the BoE’s decision on Thursday.

EUR/USD Analysis By zForex Research Team - 03.19.2025​

EUR/USD Slips as Dollar Gains Ahead of Fed Decision​

EUR/USD slipped to 1.0935 in the Asian session as the dollar rebounded ahead of the Fed’s rate decision. The Greenback gained support after stronger US data, with industrial production rising 0.7% in February, beating the 0.2% forecast.

The Fed is expected to hold rates steady, with focus on Powell’s press conference and the dot plot for policy signals. In Europe, Germany’s parliament approved a major spending plan, unlocking billions for investment to revive its struggling economy.

Key resistance is at 1.0950, followed by 1.1000 and 1.1050. Support stands at 1.0880, with further levels at 1.0800 and 1.0730.

Gold Analysis By zForex Research Team - 03.19.2025​

Safe-Haven Demand Keeps Gold Near $3,030​

Gold held near a record $3,030 as investors sought safety amid geopolitical and trade tensions. Israel launched its deadliest Gaza strike since the ceasefire, calling it "only the beginning.

Putin agreed to halt attacks on Ukraine’s energy infrastructure but rejected Trump’s 30-day ceasefire proposal. Trade tensions persist, with new US tariffs set for April 2.

Markets now await the FOMC decision, with Powell’s speech expected to provide monetary policy insights. Gold has surged over 15% this year.

Key resistance stands at $3045, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.   

 

[zForex]

Daily Analysis By zForex Research Team - 03.20.2025​

Markets Remain Cautious as Fed Reaffirms Rate​

Markets remain cautious as traders digest the Federal Reserve’s reaffirmed plan for two rate cuts in 2025 while uncertainty surrounds the European Central Bank’s policy path.
EUR/USD dipped toward 1.0900 despite Germany’s fiscal reforms, while the yen strengthened past 148.5 per dollar on dollar weakness. Gold held near a record $3,050 amid safe-haven demand and trade tensions, while silver stayed elevated near $33.60. Investors now shift focus to ECB President Lagarde’s speech and the Bank of England’s policy decision.

EUR/USD Analysis By zForex Research Team - 03.20.2025​

ECB Rate Cut Hopes Fade, EUR/USD Nears 1.0900​

EUR/USD fell for a second day, nearing 1.0900 in the Asian session. The pair found support as the dollar weakened on falling Treasury yields after the Fed reaffirmed plans for two rate cuts. However, uncertainty over Trump’s tariff policies kept sentiment cautious.

In Europe, German lawmakers approved a debt plan by likely Chancellor Friedrich Merz to increase growth and defense spending. A shift from Germany’s conservative fiscal stance could drive inflation and influence ECB policy.

Investors await ECB President Lagarde’s speech on economic and monetary affairs in Brussels on Thursday.

Key resistance is at 1.0950, followed by 1.1000 and 1.1050. Support stands at 1.0880, with further levels at 1.0800 and 1.0730.

Yen Analysis By zForex Research Team - 03.20.2025​

Dollar Weakens Post-Fed, Lifting Yen Beyond 148.5​

The yen strengthened past 148.5 per dollar, rising for a second session as the dollar weakened after the Fed reaffirmed two rate cuts this year. Fed Chair Powell downplayed Trump’s tariffs as short-lived. The BoJ kept rates at 0.5% on Wednesday, adopting a cautious stance amid global risks, especially US tariffs. It also emphasized monitoring forex markets and their impact on the economy.

Key resistance is at 150.30, with further levels at 152.00 and 154.90. Support stands at 147.00, followed by 145.80 and 143.00. 

 

[zForex]

Daily Analysis By zForex Research Team - 03.21.2025​

Euro Slides on Tariff Warnings, Gold Near Record Highs​

The euro retreated after ECB President Christine Lagarde warned that proposed U.S. tariffs could dent eurozone growth.

Meanwhile, gold hovered near $3,030 as safe-haven demand remained strong amid rising trade tensions and geopolitical risks. The yen softened after Japan’s inflation data, while the British pound dipped following the Bank of England’s steady rate decision. Silver steadied near $33.20 as markets digested recent volatility and Fed policy outlook.

GBP/USD Analysis By zForex Research Team - 03.21.2025​

GBP Retreats as BoE Maintains Policy​

The pound dipped below $1.30, retreating from a four-month high after the BoE held rates at 4.5% and signaled a cautious approach to easing policy, despite recent inflation progress.

Global trade tensions added pressure, with new U.S. tariffs prompting retaliatory moves and raising inflation risks.

UK data showed weak growth, steady 4.4% unemployment, and wage growth easing to 5.8%, in line with forecasts. In the U.S., the Fed kept rates steady but reaffirmed plans for two cuts this year.

If GBP/USD breaks above 1.3050, the next resistance levels are 1.3100 and 1.3150. On the downside, support stands at 1.2860, with further levels at 1.2800 and 1.2715 if selling pressure increases.

Gold Analysis By zForex Research Team - 03.21.2025​

Gold Nears $3,030 on Fed Cut Hopes​

Gold hovered near $3,030 on Friday, close to record highs and heading for a third straight weekly gain. The rally is driven by dovish Fed signals and strong safe-haven demand. The Fed reaffirmed plans for two rate cuts in 2025 amid rising economic uncertainty, while Powell downplayed Trump’s proposed tariffs as temporarily inflationary but saw no urgency to cut rates.

Geopolitical tensions also supported gold, with Israel escalating operations in Gaza, Hamas striking Tel Aviv and the U.S. continuing airstrikes in Yemen. Markets are also watching the April 2 deadline for Trump’s reciprocal tariffs, fueling trade concerns. Gold is up over 15% year-to-date.

Key resistance stands at $3082, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.   

 

[zForex]

Daily Analysis By zForex Research Team - 03.24.2025​

EUR/USD Steady at 1.0820, Yen Weakens to 150​

EUR/USD held near 1.0820 as higher U.S. yields and German fiscal suspense weighed on the euro.

The yen weakened toward 150 after disappointing Japanese business activity data, despite expectations for future BOJ rate hikes. Gold dipped to $3,015 on peace hopes in Ukraine but remained supported by Fed rate cut prospects and Gaza tensions. GBP/USD steadied at 1.2915 on dollar weakness and UK stability, while silver traded near $33.06, with gains capped by a strong dollar and weak industrial outlook from China.

EUR/USD Analysis By zForex Research Team - 03.24.2025​

Yields Weigh on EUR/USD: Euro at 1.0820​

EUR/USD is trading around 1.0820 on Monday, rebounding slightly from last week’s low of 1.0795. The euro has pulled back from its recent high of 1.0955 with uncertainty over Germany’s fiscal policy and rising global trade tensions.

Caution persists before the April 2 announcement of new U.S. tariffs, which could weigh on the eurozone. Despite the modest recovery, the euro remains under pressure from stronger U.S. Treasury yields and demand for the dollar.

Key resistance is at 1.0860, followed by 1.0950 and 1.1000. Support stands at 1.0800, with further levels at 1.0730 and 1.0670.

Gold Analysis By zForex Research Team - 03.24.2025​

Ukraine Talks and Gaza Tensions Influence XAUUSD​

Gold dipped to around $3,015 per ounce as hopes for a Russia-Ukraine peace deal grew after talks between Ukrainian and U.S. officials. Further negotiations with Russia are expected later today.

Despite the drop, gold remains supported by the tension over U.S. tariffs and Fed rate cut expectations. The Fed kept rates steady last week while signaling two potential cuts this year. Meanwhile, geopolitical pressures remain high as Israel resumed airstrikes on Hamas targets in Gaza.

Key resistance stands at $3082, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.

 

[zForex]

Daily Analysis By zForex Research Team - 03.25.2025​

Gold Steady, Pound Awaits Budget​

The yen stays weak near 150.7 as Japan faces export concerns and the BOJ hints at future rate hikes.

Gold holds near $3,010 with uncertainty over Trump’s tariffs and cautious Fed commentary, with attention turning to upcoming PCE data. EUR/USD trades at $1.08 as strong U.S. PMI data and easing tariff fears strengthen against the euro. GBP/USD remains stable at $1.292, supported by UK fiscal optimism ahead of the spring budget. Silver climbs to $33.10 on China growth comments.

EUR/USD Analysis By zForex Research Team - 03.25.2025​

US PMI Strength Drives Dollar Higher​

EUR/USD is trading at $1.08 as the U.S. dollar strengthens on solid U.S. services PMI data, which signaled economic resilience and pushed yields higher. Confidence in the dollar was further enabled by Trump’s remarks suggesting not all April 2 tariffs will be implemented, with possible exemptions for some countries. Meanwhile, the euro is under pressure as its recent rally fades and Eurozone economic signals weaken, keeping EUR/USD on a downward path driven by dollar strength.

Key resistance is at 1.0860, followed by 1.0950 and 1.1000. Support stands at 1.0730, with further levels at 1.0660 and 1.0600.

USD/JPY Analysis By zForex Research Team - 03.25.2025​

Japan's Tariff Worries and BOJ Rate Hike Hints​

The Japanese yen remained weak around 150.7 per dollar on Tuesday, near a three-week low, as the U.S. dollar gained strength. Trump's plan to impose tariffs on autos, pharmaceuticals, and other sectors raised concerns for Japan’s export-driven economy.

BOJ minutes from January showed officials remain open to future rate hikes depending on wage and inflation trends, with one member suggesting a possible increase to 1% in late fiscal 2025. Still, the BOJ kept rates steady at 0.5% last week, maintaining a cautious stance with global tensions.

Key resistance is at 151.70, with further levels at 152.70 and 154.00. Support stands at 147.00, followed by 145.80 and 143.00. 

 

[zForex]

Daily Analysis By zForex Research Team - 03.26.2025​

Markets Cautious as ECB Leans Dovish Amid Safe-Haven Demands​

Markets remained cautious on Tuesday as investors weighed slowing Eurozone growth, firm U.S. data, and rising global trade tensions.

The euro hovered near $1.08 after ECB officials hinted at possible rate cuts, while the dollar gained ground and the yen weakened amid BoJ rate hike speculation. Gold held near record highs above $3,020 on safe-haven demand, while silver rebounded above $33 as traders assessed the potential impact of Trump’s upcoming tariff decisions. The pound stayed resilient at nearly $1.2920, which is ahead of the UK’s spring budget update.

Yen Analysis By zForex Research Team - 03.26.2025​

Yen Steady Near 150.7 as Dollar Strengthens​

The Japanese yen hovered near 150.7 per dollar on Tuesday as the U.S. dollar strengthened. Concerns grew over Japan’s exports following Trump’s proposed tariffs on autos and pharmaceuticals. BOJ minutes showed officials remain open to future rate hikes, with one member suggesting a 1% rate by late FY2025. The central bank kept rates steady at 0.5% last week, citing global uncertainties.

Key resistance is at 151.70, with further levels at 152.70 and 154.00. Support stands at 147.00, followed by 145.80 and 143.00. 

Gold Analysis By zForex Research Team - 03.26.2025​

Safe-Haven Demand Keeps Gold Elevated​

Gold edged above $3,020 on Wednesday, near record highs, supported by safe-haven demand amid uncertainty over upcoming US reciprocal tariffs. Trump's April 2 tariff plan is expected to be more targeted than past proposals but still signals a major escalation in trade tensions.

Markets now await Fed officials’ speeches and Friday’s US PCE data for policy clues. Meanwhile, a U.S.-brokered pause in sea and energy attacks between Ukraine and Russia, along with possible sanctions relief for Moscow, slightly eased bullion's appeal.

Key resistance stands at $3082, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.   

 

[zForex]

Daily Analysis By zForex Research Team - 04.07.2025​

Markets Mixed as Fed Cut Bets Battle Trade War Fears​

Markets opened the week with mixed performance as traders weighed expectations of Fed rate cuts against deepening global trade tensions.

The euro edged higher while the pound softened amid risk aversion. The yen fluctuated sharply as safe-haven demand surged, and gold steadied near a three-week low. Silver rebounded from recent losses on renewed safe-haven interest. Uncertainty over global growth and tariff risks continues to keep major assets range-bound.

EUR/USD Analysis By zForex Research Team - 04.07.2025​

EUR/USD Edges Higher Amid Fed Cut Bets​

The EUR/USD rose 0.03% to $1.0967 in Asian trade, supported by expectations of Fed rate cuts amid U.S.-China trade tensions. However, gains were limited by concerns over European growth and global trade disruptions. Without signs of market stability, the pair may stay range-bound under risk aversion pressure.

Key resistance is at 1.1100, followed by 1.1150 and 1.1215. Support lies at 1.1000, then 1.0850 and 1.0730.

Gold Analysis By zForex Research Team - 04.07.2025​

Gold Stabilizes Near 3-Week Low​

Gold steadied around $3,030 per ounce on Monday after falling over 1% to a three-week low. The drop sparked speculation that investors were taking profits or covering losses amid broader market declines driven by recession fears from escalating trade tensions. Fed Chair Jerome Powell warned that tariffs could raise inflation and slow growth, underscoring challenges for policymakers.

Key resistance is at $3,050, followed by $3,085 and $3,105. Support stands at $2,980, then $2,930 and $2830.

 

[zForex]

Daily Analysis By zForex Research Team - 04.08.2025​

Trade War Sparks FX Moves, Precious Metals Rebound​

Major currencies and metals responded sharply to intensifying global trade tensions, as reciprocal tariffs between the U.S., China, and EU rattled markets.

The euro neared five-month highs, while the yen gained on safe-haven demand amid U.S.-Japan trade talks. Gold rebounded as risk sentiment worsened, and silver steadied after a sharp selloff. Meanwhile, the pound declined on renewed UK recession fears, with rate cut bets rising. Market focus now turns to key U.S. inflation data and Fed minutes for policy signals.

EUR/USD Analysis By zForex Research Team - 04.08.2025​

Euro Firms as U.S.-China-EU Trade Rift Widens​

The euro hovered near $1.10, its highest since October 2024, as the dollar weakened and trade tensions escalated. China plans to impose 34% tariffs on all U.S. goods from April 10, following Trump’s 10% tariff on all imports, including 20% on EU and 34% on Chinese goods. France urged firms to halt U.S. investments, and the EU is preparing countermeasures. Markets now price in a 90% chance of an ECB rate cut in April, with the deposit rate seen falling to 1.65% by December from 2.5%.

Key resistance is at 1.1100, followed by 1.1150 and 1.1215. Support lies at 1.0900, then 1.0850 and 1.0730.

GBP/USD Analysis By zForex Research Team - 04.08.2025​

GBP Falls as Trade Tensions Fuel Recession​

The British pound fell to $1.28, its lowest since March 4, as Trump’s trade policies fueled recession fears. After China imposed 34% tariffs on U.S. goods, markets raised BoE rate cut bets. Traders now price in 88 bps of cuts by December, up from 43 bps in March, with a 90% chance of a 25bps cut in May.

If GBP/USD breaks above 1.2850, resistance levels are at 1.2900 and 1.2940. Support is at 1.2715, followed by 1.2650 and 1.2600.