Daily Market Analysis By zForex

[zForex]

South Korea’s Chip Rally Is Starting to Unwind​

South Korea’s semiconductor boom is facing a sharp correction. SK Hynix dropped another 10% despite reporting strong profit growth and better margins.



The problem is no longer weak earnings. Investor expectations had already become extremely high, so even solid results were not enough to support the share price.

The market is also questioning whether AI data-centre spending can continue at the same pace. SK Hynix plans to expand high-bandwidth memory production, but too much new capacity could later pressure prices and margins.

The chart shows the stock near KRW 1.4 million and well below its key moving averages. The next important support sits around KRW 1.25 million, while any recovery may face resistance near KRW 1.74 million.

This is not yet a financial crisis, but it shows how dependent South Korea’s market has become on chipmakers. If AI demand slows further, pressure could spread from semiconductor stocks to the wider KOSPI and investor confidence.

 

[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​

Euro Advances Toward $1.15​

The euro strengthened toward $1.15, touching a two-week high as the dollar softened following the Federal Reserve's decision to hold interest rates unchanged.

European money markets are now pricing in nearly two ECB rate increases by March 2027, supported by hawkish comments from policymakers Kazimir and Lane. Investors now turn their attention to upcoming Eurozone inflation data for further direction.

The first resistance is positioned at 1.1490 while the support starts from 1.1400.

Gold Steadies Around $4,050​

Gold stabilized near $4,050, holding earlier gains after the Federal Reserve kept interest rates unchanged despite rising inflation risks linked to Middle East tensions.

Three FOMC members dissented, advocating for a rate increase, as Chair Warsh indicated future tightening remains possible if inflation stays high. Meanwhile, the Bank of England and Bank of Japan face upcoming policy decisions, with geopolitical uncertainties remaining elevated.

First resistance is seen at $4100, with initial support near $4020.

Yen Rebounds Near 163.5​

The Japanese yen advanced toward 163.5 per dollar as the dollar eased following the Federal Reserve's rate hold. Despite three hawkish FOMC dissents, Chair Warsh emphasized the decision does not imply policy inertia.

Meanwhile, markets anticipate the Bank of Japan will hold steady Friday while keeping rate hikes open to support the currency amid ongoing U.S. strikes against Iranian targets.

Initial resistance stands at 164.00, while the first support is at 163.20.

Sterling Trades Soft Near 1.3348​

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%.

Although a dovish tilt from the Federal Reserve limited dollar strength, broader Middle East risk dynamics and domestic political developments under Prime Minister Burnham continue influencing sterling's trajectory.

From a technical view, resistance stands near 1.3370, with support around 1.3260.

Silver Steadies Near $57.5​

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. Three FOMC members voted for a rate increase, with Chair Warsh warning that future hikes remain possible if inflation persists.

Meanwhile, central bank decisions from the BOE and BOJ loom, as geopolitical friction and stalled Hormuz negotiations keep commodity markets on edge.

From a technical view, resistance stands near $58.40, while support is located around $56.50.

Brent Crude Oil​

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.

US crude inventories posted their largest draw since mid-June, while strategic reserves fell to their lowest level since 1983.

Resistance is seen at 88, while the nearest support stands at 84.40.

Nasdaq 100​

The Nasdaq-100 fell 2.06% to 27,192.31, entering correction territory after the Fed meeting.

Sticky inflation and pressure on technology valuations weighed on sentiment, pushing the index below both its 50-day and 200-day moving averages.

Resistance stands at 27,800, while the nearest support is located at 27,000.

Offshore Chinese Yuan​

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.

With the Fed holding rates steady, attention now shifts to China's Politburo meeting for fresh policy signals.

Resistance stands at 6.7760 while the nearest support is located at 6.7520.

Bitcoin (BTC/USD)​

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.

First resistance is seen at 66,400, with initial support near 62.500.

 

[zForex]

+ Japanese yen update

USD/JPY Drops Toward 159 as Intervention Risk Returns​

USD/JPY is trading near 159 after a sharp reversal from above 164. The Fed’s rate hold still supports the dollar through wide US-Japan rate differentials, but suspected Japanese intervention has shifted short-term momentum toward the yen.

Markets are now watching official comments from Tokyo and the next BOJ signals. Intervention fears can limit any quick recovery, even if US yields remain high.

Technically, the pair is still inside its broader rising channel, but the latest decline has pushed price below the nearby moving-average zone. This weakens the short-term outlook and shows that the earlier bullish momentum has been interrupted.

The 159 area is the first support to watch, followed by the lower channel region near 158. A break below this zone could deepen the correction. On the upside, 160.06 is the first resistance, while 161.13 to 161.45 is the main recovery barrier.

For now, the wider trend has not fully broken, but intervention risk makes the setup unstable. Any rebound may remain limited unless USD/JPY moves back above 160 and holds there.

 

[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​

Euro Consolidates Near 1.1500​

EUR/USD range-traded near 1.1450–1.1500, absorbing the Fed's rate hold and weak U.S. GDP growth alongside resilient Eurozone GDP data that supported ECB rate-hike expectations. However, geopolitical safe-haven dollar demand from U.S. strikes on Iran capped euro upside.

Technical indicators suggest easing downside momentum, with key support around 1.1390 and resistance at 1.1500.

The first resistance is positioned at 1.1550 while the support starts from 1.1470.

Gold Slides Below $4,100​

Gold fell below $4,100, halting a two-day rally, yet remained positioned for its first monthly gain in five months. Bullion found support after the Federal Reserve kept interest rates unchanged, though a 63% probability of a September rate hike capped gains.

Meanwhile, renewed U.S. strikes on Iran diminished near-term diplomatic prospects, maintaining ongoing pressure on gold prices.

First resistance is seen at $4120, with initial support near $4020.

USD/JPY Rebounds Toward 160.50​

USD/JPY rebounded strongly to near 160.50, recovering from a two-month low of 157.97 driven by suspected intervention and a hawkish hold by the Bank of Japan. The BOJ maintained rates at 1.00% while highlighting elevated inflation risks.

The Fed's 9–3 rate hold continues supporting the dollar, with the pair testing resistance at 161.00–161.50.

Initial resistance stands at 161.70, while the first support is at 159,50.

Sterling Pauses Near 1.3450​

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.

Meanwhile, a slight dollar rebound off sub-100 levels capped sterling's momentum amid safe-haven flows.

From a technical view, resistance stands near 1.3490, with support around 1.3260.

Silver Eases Toward $58​

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, though a 63% chance of a September rate hike limited further upside.

Ongoing U.S. strikes in Iran continue weighing on precious metals.

From a technical view, resistance stands near $58.90, while support is located around $56.80.

Brent Crude Oil​

Brent eased below $86 but remained on track for a monthly gain of more than 20%.

Concerns over potential supply disruptions persisted after fresh US strikes on Iran, while shipping activity through the Strait of Hormuz gradually recovered.

Resistance is seen at 87, while the nearest support stands at 84.40.

Nasdaq 100​

The Nasdaq-100 traded near 28,106, extending its recovery above 28,000 as strong earnings from Microsoft eased concerns over AI spending.

Microsoft jumped 16%, its biggest daily gain since 2008, while Amazon advanced after earnings. Softer US GDP and cooler PCE inflation also strengthened expectations for future rate cuts.

Resistance stands at 28,800, while the nearest support is located at 27,500.

Offshore Chinese Yuan​

USD/CNH trades near 6.7452, touching a fresh multi-year low as broad dollar weakness supported the yuan.

China's manufacturing PMI remained in contraction at 49.2, reinforcing expectations of further PBOC easing, while technical indicators suggest the pair may be due for a short-term rebound.

Resistance stands at 6.7660 while the nearest support is located at 6.7320.

Bitcoin (BTC/USD)​

Bitcoin trades near $64,326, moving sideways after recovering from monthly lows around $57,200.

The Fed's decision eased selling pressure, while steady spot ETF inflows continued to absorb supply. Strategy increased its Bitcoin holdings by 25% this year despite reporting an $8.2 billion quarterly loss.

First resistance is seen at 66,400, with initial support near 62.500.

 

[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​

Euro Holds Cautiously Bullish​

EUR/USD maintains a mild upward momentum near 1.1528, continuing its bounce after breaking key resistance. Euro gains are driven by US Dollar weakness following the Fed's rate decision, strong Eurozone Q2 GDP growth at 0.4%, and cooling geopolitical risks. Remaining above its 50-day SMA, the pair awaits Friday's key NFP data.

The first resistance is positioned at 1.1560 while the support starts from 1.1500.

Gold Rebounds on Iran Diplomacy​

Gold rebounded past $4,050 after recovering early losses as President Trump announced resuming peace talks with Iran, pushing oil prices lower and cooling inflation concerns. Allies like Saudi Arabia encouraged diplomatic efforts over strikes, alongside calls to reopen the Strait of Hormuz.

Meanwhile, market attention shifts to a key US labor market week featuring Friday's jobs report, following the Federal Reserve's rate hold, as traders price in a 68% probability of a September rate increase.

First resistance is seen at $4085, with initial support near $4020.

Yen Surges on Joint US Intervention​

The Japanese yen rallied toward 155 against the dollar, expanding its three-day gain to 5% following official confirmation of joint currency intervention by Japan's Finance Ministry and the US Treasury. Japanese officials emphasized readiness for additional coordinated steps to counter recent 40-year lows.

US officials framing the effort as a move to preserve global financial stability, countering previous downside pressure caused by high energy import costs, fiscal worries, and widening interest rate gaps.

Initial resistance stands at 157.30, while the first support is at 155,30.

Sterling Holds Near 1.3470​

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.

However, historical downside seasonal trends typically seen throughout August continue to limit stronger bullish momentum.

From a technical view, resistance stands near 1.3500, with support around 1.3360.

Silver Recovers Above $58​

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.

Investors now turn to a busy US labor market week featuring Friday's jobs report, following the Fed's steady rate policy despite three dissents, with markets favoring a September rate hike.

From a technical view, resistance stands near $58.90, while support is located around $57.15.

Brent Crude Oil​

Brent traded near $85 as reports of recent US-Iran diplomacy and a possible Strait of Hormuz agreement weighed on prices.

Markets also looked ahead to key US economic data, while improving geopolitical sentiment reduced immediate supply concerns.

Resistance is seen at 85.00, while the nearest support stands at 81.80.

Nasdaq 100​

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.

Amazon also advanced after earnings, while Apple and Meta declined. Softer GDP and cooler PCE inflation strengthened expectations for future Fed rate cuts.

Resistance stands at 28,800, while the nearest support is located at 28,200.

Chinese Yuan (USD/CNH)​

USD/CNH traded near 6.7500, staying close to multi-month lows as a stronger daily PBOC fixing supported the yuan.

Expectations for Fed rate cuts later in 2026 also weighed on the dollar, while the narrow gap between onshore and offshore yuan suggested limited speculative activity and steady capital controls.

Resistance stands at 6.7650 while the nearest support is located at 6.7420.

Bitcoin (BTC/USD)​

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.

Heavy $60,000 put option positioning points to hedging against a deeper August pullback, with the price still below its 50-day EMA.

First resistance is seen at 63,500, with initial support near 62.000.

 

[zForex]

All Eyes Turn to U.S. Payrolls (04.08.2026)​

A coalition of US states sued over President Trump's new global tariffs, joining small businesses in arguing the 10–12.5% duties on 60 economies are unlawful under Section 301. The case adds another layer of uncertainty as the US tariff framework continues to evolve.

The Dollar Index hovered near 100 while the 10-year Treasury yield held around 4.69% as traders weighed the Fed's outlook against Middle East uncertainty. Markets still price a 65% chance of a September rate hike after July's hold, while John Williams said policy is well positioned and inflation should ease later this year. Focus now turns to JOLTS and US trade data.

US stock futures edged higher after Monday's rally, when the Nasdaq gained 2.13% and the S&P 500 and Dow rose 1.48% and 1.32%. Amazon climbed 4.6% to top a $3 trillion valuation, joined by gains in Microsoft, Nvidia, Meta, Alphabet, and Tesla, while lower oil prices supported sentiment ahead of earnings from SpaceX, AMD, Caterpillar, Merck, and McDonald's.

Economic Calendar​

EUR/USD Holds Near 1.1508​

EUR/USD trades near 1.1508, holding its recent recovery after rebounding from the multi-week low of 1.1366.

The Fed's cautious stance and outperforming 0.4% Eurozone GDP have kept the pair supported, while easing Middle East tensions reduced safe-haven demand for the dollar. Yen intervention has also added volatility to the broader dollar outlook.

The first resistance is positioned at 1.1540 while the support starts from 1.1480.

Gold Steadies Near $4,050​

Gold traded in a tight range around $4,050, as investors weighed potential U.S.-Iran diplomatic developments against broader Federal Reserve policy expectations. While President Trump described his offer as Tehran's final chance to reopen the Strait of Hormuz, Iran denied direct negotiations despite acknowledging progress via Oman.

Meanwhile, markets price a 65% chance of a September Fed rate hike following July's pause, even as New York Fed President John Williams maintained that policy is well-positioned and expects inflation to moderate.

First resistance is seen at $4085, with initial support near $4020.

Yen Holds Gains Near 157​

The Japanese Yen traded near 157 per dollar, maintaining recent gains as market participants remain cautious following coordinated U.S.-Japan intervention. U.S. Treasury Secretary Scott Bessent encouraged expanding the Fed's FIMA Repo Facility to backstop future joint operations.

BOJ data indicates Tokyo spent ¥5.33 trillion on Friday, following a record ¥8.45 trillion deployment, after energy costs, fiscal pressures, and rate gaps dragged the currency to 40-year lows.

Initial resistance stands at 158.60, while the first support is at 157,00.

Sterling Pulls Back Near 1.3457​

GBP/USD is trading around 1.3457, consolidating after selling pressure capped a rally past seven-week highs above 1.3500. Subdued UK manufacturing PMI data and a rebounding US dollar halted the advance. With both the Fed and BoE maintaining hawkish pauses, traders await Friday's U.S. nonfarm payrolls report for directional clarity.

From a technical view, resistance stands near 1.3500, with support around 1.3360.

Silver Consolidates Near $59​

Silver steadied around $59, retaining previous gains as investors monitored U.S.-Iran diplomatic efforts regarding a potential Strait of Hormuz reopening and evaluated the Federal Reserve's policy trajectory. While President Trump described his offer as Tehran's final chance, Iran denied direct negotiations despite acknowledging progress via Oman.

Meanwhile, September Fed rate-hike expectations sit near 65%, with New York Fed President John Williams maintaining that policy remains well-positioned for inflation to moderate.

From a technical view, resistance stands near $59.50, while support is located around $58.00.

Bitcoin (BTC/USD)​

Bitcoin traded near $63,747, testing resistance after rebounding on a weaker US jobs report that triggered a short squeeze.

Strategy's $216 million Bitcoin sale weighed on sentiment, although spot ETFs ended a 10-day outflow streak with $221 million in inflows. RSI points to overbought conditions, while the broader trend remains neutral to bearish.

First resistance is seen at 64,700, with initial support near 63.000.

Brent Crude Oil​

Brent traded above $84 as traders followed US-Iran negotiations for signs of a Strait of Hormuz agreement. President Trump expressed confidence the route would reopen, while Iran denied direct talks but reported progress through Oman.

Turkey and Iraq extended their pipeline agreement, Kazakhstan resumed Caspian Pipeline exports, and OPEC+ approved another modest production increase.

Resistance is seen at 87.20, while the nearest support stands at 83.50.

Nasdaq 100​

The Nasdaq-100 traded at 28,776.80, extending its recovery with a gain of more than 1.5% after an 11.3% correction.

Strong corporate earnings and easing geopolitical tensions supported technology shares, while Trump's comments on Iran pushed oil prices sharply lower and reduced inflation concerns. The Fed's rate hold also helped improve sentiment.

Resistance stands at 29,000, while the nearest support is located at 28,500.

Offshore Chinese Yuan​

USD/CNY traded near 6.7570, remaining close to multi-month lows as a broadly weaker dollar and resilient Chinese exports supported the yuan.

Easing geopolitical tensions and an upcoming US-China summit also strengthened sentiment, although expected PBOC rate cuts later this year may limit further gains.

Resistance stands at 6.7650 while the nearest support is located at 6.7420.

 

[zForex]

Markets Balance Risk Appetite (08.05.2026)​

The US 10-year Treasury yield fell to around 4.6%, marking a third straight decline. Reports of a possible US-Iran agreement pushed oil lower, reducing September Fed hike odds to 57% from 67%. Markets now await the ADP employment report.

The Dollar Index remained below 100 as lower oil prices eased inflation concerns. Qatar prepared an interim proposal for a Strait of Hormuz agreement, while Treasury Secretary Scott Bessent said a deal could come by midweek. The dollar also stayed under pressure against the yen following renewed intervention warnings.

US stock futures were little changed after all three major indexes closed at record highs. SpaceX fell 7% despite beating revenue estimates in its public earnings debut, while AMD dropped 9% after a modest beat. Attention now turns to results from Eli Lilly, Disney, and Uber.

Japan's 10-year yield slipped to around 2.82% as falling oil prices reduced inflation concerns following reports of progress toward a Strait of Hormuz agreement. Expectations of another BOJ rate hike continued to support yields.

Economic Calendar​

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

EURUSD​

EUR/USD traded slightly above 1.15, its highest level since 16 June, as easing Middle East tensions weighed on the dollar.

Oil prices fell on expectations of a US-Iran agreement, reducing inflation concerns, while Treasury Secretary Scott Bessent said a Strait of Hormuz deal could be reached by midweek.

Stronger eurozone data, including 0.4% Q2 GDP growth and 2.9% July inflation, reinforced expectations of an ECB rate hike in September.

The first resistance is positioned at 1.1560 while the support starts from 1.1510.

GBPUSD​

Sterling traded around 1.3456, up 0.14%, consolidating above 1.3400 as weak US labor data counterbalanced a neutral Bank of England outlook. Near-term support rests at 1.3410-1.3360, with resistance between 1.3480 and 1.3550.

However, persistent Fed rate hike expectations and historically weak August seasonal trends continue to limit GBP upside.

From a technical view, resistance stands near 1.3500, with support around 1.3360.

USDJPY​

The yen traded around 157.5 per dollar, pausing after a strong three-session rally.

Treasury Secretary Scott Bessent reaffirmed US support following coordinated intervention with Japan, while BOJ data showed Tokyo spent ¥5.33 trillion on Friday after a record ¥8.45 trillion the previous day.

Japan's real wages rose for a sixth consecutive month, strengthening expectations of further BOJ tightening.

First resistance is seen at 158.60, with initial support near 157.00.

USDCNH​

Offshore Chinese Yuan traded near 6.7536, with the yuan remaining close to yearly highs against the dollar.

The PBOC set its daily fixing at 6.7917, while stronger Chinese exports, up 15% year-on-year, and a weaker dollar supported the currency. Expectations of further PBOC easing, however, may limit additional gains.

Resistance stands at 6.7650 while the nearest support is located at 6.7420.

XAUUSD​

Gold climbed above $4,100 an ounce, rising for a third straight session as traders assessed progress toward a Strait of Hormuz agreement.

Qatar prepared an interim proposal, while talks between Washington and Tehran pushed oil prices lower and reduced expectations for further Fed tightening. Markets now price a 57% chance of a September rate hike, down from 67%, with ADP payrolls due later today.

Chinese gold ETFs also continued to attract inflows above $4,000. First resistance is seen at $4180, with initial support near $4080.

XAGUSD​

Silver surged past $60 per ounce on Wednesday, making gains for a third consecutive session as easing geopolitical tensions reduced inflation fears. Progress on a Strait of Hormuz agreement sent crude prices lower, dropping September Fed rate hike probabilities to 57%.

Despite hawkish central bank commentary, market attention now shifts to incoming ADP employment data.

From a technical view, resistance stands near $62.00, while support is located around $60.00.

BTCUSD​

Bitcoin traded near $64,339, up 0.45% and holding above $63,000 support as easing Middle East tensions and renewed ETF inflows supported sentiment.

Optimism over a Strait of Hormuz agreement lifted broader risk assets, while selling pressure from Strategy eased and spot ETF flows turned positive. RSI remained close to 50, pointing to ongoing accumulation.

First resistance is seen at 64,700, with initial support near 63.000.

BRENT CRUDE​

Brent fell below $79, extending losses for a third session and bringing weekly declines to more than 10%.

Expectations of a Strait of Hormuz agreement strengthened after Qatar prepared an interim proposal and Washington and Tehran reported progress. President Trump paused military action to allow diplomacy, while Iran advanced shipping talks with Oman and Saudi-Houthi negotiations also continued.

Resistance is seen at 81.20, while the nearest support stands at 77.50.

NASDAQ 100​

The Nasdaq-100 climbed 3.32% to 29,733.16, led by another strong rally in semiconductor stocks.

AMD gained 9%, Intel rose 11.3%, and Broadcom advanced 7.5%. Lower oil prices on easing Middle East tensions also supported sentiment, while the Fed's decision to keep rates at 3.50%-3.75% removed near-term policy uncertainty.

Resistance stands at 30,000, while the nearest support is located at 29,500.

 

[zForex]

Weak Jobs Data Supports Metals and Currencies (08.10.2026)​

US stock futures edged lower as higher oil prices revived inflation concerns. After July payrolls unexpectedly fell 23,000, September Fed hike odds dropped to 44% from 67%. Focus now shifts to US inflation data and earnings from Applied Materials, Cisco, and CoreWeave.

The US 10-year Treasury yield held near 4.66% after weak payrolls and downward revisions reduced expectations for Fed tightening. September hike odds fell to 44%, with upcoming inflation data set to guide the next move.

Japan's 10-year yield rose above 2.8% for a second session as higher oil prices added to inflation concerns. The BOJ flagged growing price risks, while one policymaker suggested rate hikes could accelerate. Japan's current account surplus also narrowed in June as higher crude import costs offset strong AI-related electronics exports.

The Dollar Index hovered near 99.6 after weak July payrolls and sharp downward revisions weighed on the currency. September hike odds dropped to 44% from 67%, while uncertainty over Iran and the Strait of Hormuz remained in focus.

Economic Calendar​

EUR/USD Holds Cautiously Bullish​

EUR/USD maintains a cautiously bullish stance below key resistance following recent multi-week highs. Weak US employment and services figures dragged the dollar lower, whereas steady Eurozone economic growth provided support despite the European Central Bank's pause.

Mid East geopolitical tensions contribute to market volatility, leaving traders focused on upcoming US inflation data.

The first resistance is positioned at 1.1570 while the support starts from 1.1500.

Gold Sustains Above $4,300​

Gold maintained position above $4,300 on Monday, retaining last week's dramatic gains following an unexpected contraction in US payrolls. July employment dropped by 23,000, lowering September Fed rate hike expectations down to 44%.

Metal prices remained resilient despite climbing oil valuations driven by Strait of Hormuz uncertainties and conflicting diplomatic statements regarding potential US-Iran negotiations.

First resistance is seen at $4350, with initial support near $4280.

Yen Resumes Decline​

The Japanese yen dropped past 158 per dollar on Monday, erasing gains from recent joint market interventions by Tokyo and Washington. Wide interest rate gaps, fiscal worries, and high energy costs continue to exert significant pressure on the currency.

Japan's narrowing current account surplus reflects rising oil import bills offsetting tech exports, even as Bank of Japan officials warn of inflation and hint at prospective rate hikes.

Initial resistance stands at 158.60, while the first support is at 157,30.

GBP/USD Ranges Near 1.3485​

GBP/USD trades sideways near 1.3485, consolidating beneath key resistance at 1.3500. Disappointing US employment data keeps the dollar under pressure, while a close Bank of England decision to hold rates offers underlying support for Sterling.

Although August historically favors sellers, bullish moving averages and healthy technical indicators keep momentum intact ahead of Wednesday's US inflation data.

From a technical view, resistance stands near 1.3500, with support around 1.3400.

Silver Holds Near $64​

Silver traded around $64 per ounce on Monday, retaining last week's double-digit surge after an unexpected drop in US payrolls curbed Federal Reserve rate hike expectations. July employment shrank by 23,000, lowering September rate hike odds to 44%.

Metal valuations remained resilient despite rising oil prices driven by Strait of Hormuz uncertainties and conflicting statements regarding potential US-Iran diplomatic progress.

From a technical view, resistance stands near $65.00, while support is located around $62.50.

Brent Crude Oil​

Brent rose above $84/barrel, extending gains for a third session.

Iran said Oman talks were nearing agreement but warned reopening wouldn't be immediate, rejecting direct US talks over alleged peace-deal breaches while demanding an end to the naval blockade, sanctions relief, and war damage compensation.

Trump signaled patience. Houthis claimed an attack on Saudi Arabia's Jazan refinery; an ADNOC tanker was also hit in Hormuz.

Resistance is seen at 85.00, while the nearest support stands at 82.50.

Nasdaq 100​

Nasdaq-100 trades near 29,750, stabilizing after a 1.19% relief rally as it tests a post-earnings consolidation breakout. Weak July jobs data lifted Fed rate-cut hopes, while disappointing AMD and SpaceX earnings on heavy AI capex weighed on sentiment.

Focus turns to CoreWeave, Super Micro earnings, and Wednesday's US CPI release.

Resistance stands at 30,000, while the nearest support is located at 29,500.

Offshore Chinese Yuan (USD/CNH)​

USD/CNY trades near 6.7476, close to a multi-month low as the yuan strengthens against a broadly correcting dollar.

Chinese exporters' USD conversions and strong AI-hardware export demand support the yuan, while the PBOC guided its daily fix lower, validating the move. Soft US NFP data pressured the dollar amid rising Fed rate-cut bets.

Focus is on Chinese trade data and Wednesday's US CPI.

Resistance stands at 6.7550 while the nearest support is located at 6.7400.

Bitcoin (BTC/USD)​

Bitcoin trades near $64,989, up 0.10% in 24 hours, up 3%+ weekly as total crypto market cap nears $2.9 trillion. Gains driven by $853.5M in US spot ETF inflows (led by BlackRock's IBIT) and weak US jobs data fueling Fed rate-cut hopes.

Sentiment held steady despite a $116M Coldcard wallet hack; markets watch the CLARITY Act vote.

First resistance is seen at 65,900, with initial support near 64.100.

 

[zForex]

Precious Metals Advance as FX Tracks Hormuz (08.11.2026)​

Gold climbed above $4,400, reaching a two-month high as Chinese demand strengthened. Gold-backed ETFs recorded their longest inflow streak in months, while the PBOC added around 20 tons to reserves in July, its largest monthly purchase since October 2023.

Chinese inflation slowed to 0.5% in July, while producer price growth eased to 3.5%, pointing to weak domestic demand. Beijing responded with plans for faster fiscal spending and bond issuance, alongside further support for equipment upgrades and consumer trade-ins.

Oil stayed firm as uncertainty over reopening the Strait of Hormuz persisted, with Brent above $84 for a third session. Iran reported progress in talks with Oman but said reopening would take time, while fresh attacks on regional energy infrastructure kept supply risks in focus.

Economic Calendar​

Euro Holds Near Key Averages​

EUR/USD remains pressured near its 100-day moving average despite rebounding past the 50-day level. Strong technical indicators maintain a constructive outlook, where a decisive move above 1.1600 could pave the way toward 1.1700 and the 200-day average.

Markets are weighing conflicting reports regarding the Strait of Hormuz. Iranian officials indicated a shipping agreement with Oman is approaching, though immediate reopening remains unlikely. Meanwhile, improving Eurozone growth expectations provide underlying currency support.

The first resistance is positioned at 1.1570 while the support starts from 1.1500.

Gold Reaches Two-Month High​

Gold climbed past $4,400 per ounce on Tuesday, touching a two-month peak as demand for safe-haven assets grew despite persistent inflation and interest rate anxieties stemming from elevated crude prices.

Chinese institutional buyers continued expanding positions to counter market volatility, driving ETF inflows to multi-month records. The People’s Bank of China accelerated its official accumulation, acquiring approximately 20 tons in July, its largest monthly increase since late 2023.

First resistance is seen at $4430, with initial support near $4440.

Yen Weakens Past 159​

The Japanese yen dropped past 159 per dollar on Tuesday, erasing about half of its recent intervention-led recovery and testing official support limits. Tokyo and Washington previously executed a record joint yen-buying operation in late July after the currency touched 40-year lows, aiming to protect broader financial stability.

However, the lack of follow-up measures from central authorities has left investors disappointed, reigniting downward momentum.

First resistance is seen at 160.00, with initial support near 158.60.

Sterling Consolidates Peak Levels​

The British pound hovered near $1.349, remaining close to multi-week highs as investors digested conflicting updates on US-Iran talks and potential Strait of Hormuz developments. While Iranian officials signaled progress on a regional shipping framework, direct negotiations with Washington were dismissed.

Also, disappointing US employment data curbed Federal Reserve rate hike expectations, providing support for Sterling. Domestically, the Bank of England held interest rates steady while highlighting disinflation progress. UK employment indicators showed stabilizing permanent hires, rising temporary vacancies, and strong initial salary growth.

From a technical view, resistance stands near 1.3530, with support around 1.3400.

Silver Hits Seven-Week Peak​

Silver rose toward $65.5 per ounce on Tuesday, touching a seven-week high as robust investment flows elevated precious metals despite energy-driven inflation and interest rate concerns. The metal gained additional momentum from strong industrial consumption within solar and power grid sectors.

Furthermore, Chinese silver ore imports surged 62.5% year-over-year in June, illustrating substantial physical demand.

From a technical view, resistance stands near $65.80, while support is located around $65.00.

Bitcoin (BTC/USD)​

Bitcoin traded at $64,087, up 176 points or 0.28% from the previous session.

The cryptocurrency has gained 0.50% over the past four weeks but remains down 46.67% over the last 12 months. Trading Economics forecasts Bitcoin at $66,236 by quarter-end and $73,276 within one year.

First resistance is seen at 65,900, with initial support near

Brent Crude Oil​

Brent climbed above $84 per barrel, extending gains for a third session as uncertainty over Hormuz persisted.

Iran said talks with Oman were close to an agreement but warned reopening would take time, while demanding an end to the naval blockade, sanctions relief, and compensation for war damage. The Houthis also claimed an attack on Saudi Arabia's Jazan refinery, while an ADNOC tanker was hit in Hormuz.

Resistance is seen at 88.10, while the nearest support stands at 86.70.

Nasdaq 100​

The US 100 Tech Index traded at 29,674, down 100 points or 0.34% on Tuesday. The index has lost 1.40% over the past four weeks but remains 24.47% higher over the last 12 months. Trading Economics forecasts 29,092 by quarter-end and 27,281 within one year.

Resistance stands at 30,000, while the nearest support is located at 29,500.

Offshore Chinese Yuan​

The offshore yuan weakened to around 6.74 per dollar, pulling back from a more than three-year high after softer inflation pointed to weak domestic demand.

Consumer inflation slowed to 0.5% in July, a six-month low, while producer price inflation eased to 3.5% from 4.1%.

Beijing pledged stronger support through faster fiscal spending, bond issuance, equipment upgrades, and consumer trade-in programs, with domestic consumption still weak despite solid exports and industrial production.

Resistance stands at 6.7550 while the nearest support is located at 6.7400.

 

[zForex]

U.S. Inflation and Hormuz Talks Shape Sentiment (08.12.2026)​

US inflation data now takes center stage, with a September Fed hike still in question. EUR/USD held near 1.1540, Bitcoin traded around $63,768, and the US 100 Tech Index slipped to 29,535 as traders positioned for the next policy signal.

Brent pushed above $89 for a sixth session as conflicting signals around a US-Iran agreement kept the supply outlook uncertain. Higher oil prices brought inflation and interest rates back into focus, while gold recovered toward $4,400.

U.S.-Iran diplomacy and the Strait of Hormuz continued to influence currencies, commodities, and inflation expectations.

Economic Calendar​

Euro Holds Near 1.1540​

EUR/USD moved sideways on Wednesday, hovering around 1.1540 while remaining confined within its established trading range. A subdued US dollar helped stabilize the pair as markets closely watched Middle East developments and potential Strait of Hormuz progress.

Technical indicators retain a mildly bullish bias, though the 100-day moving average limits immediate gains, with a breakout opening path toward the 200-day average.

The first resistance is positioned at 1.1570 while the support starts from 1.1500.

Gold Rebounds Toward $4,400​

Gold climbed toward $4,400 an ounce on Wednesday, recovering from the previous session’s losses as investors awaited key US inflation data for clues on the Federal Reserve’s next policy steps. Markets remain split over a possible 25-basis-point Fed rate hike in September after rates were left unchanged in July, while higher oil prices continue to support a hawkish outlook.

Meanwhile, investors monitored developments around a potential US-Iran agreement to reopen the Strait of Hormuz, with Pakistan’s defense minister saying the two sides were close to a deal and reports suggesting Iran-Oman talks had advanced.

First resistance is seen at $4430, with initial support near $4390.

Yen Weakens Past 159​

The Japanese yen weakened beyond 159 per dollar on Tuesday, giving back roughly half of its recent intervention-driven gains and testing the willingness of Tokyo and Washington to support the currency. Traders remain alert to the possibility of another intervention.

Japan and the US carried out a record coordinated yen-buying operation at the end of July after the currency hit 40-year lows, but markets were disappointed when no further measures followed.

First resistance is seen at 160.00, with initial support near 158.60.

Sterling Holds Near $1.349​

The British pound remained firm near $1.349, hovering close to multi-week highs as markets processed mixed signals surrounding Middle East diplomacy and the Strait of Hormuz.

Iranian Foreign Minister Abbas Araghchi indicated progress on a regional shipping framework with Oman, though he dismissed direct US talks and clarified that any final agreement would not immediately restore normal maritime traffic.

From a technical view, resistance stands near 1.3530, with support around 1.3400.

Silver Stabilizes Near $65​

Silver held steady near $65 per ounce on Wednesday following a previous dip, as investors positioned ahead of critical US inflation figures for monetary policy direction. Financial markets remain divided over a potential 25-basis-point Federal Reserve interest rate hike in September, with elevated crude prices reinforcing hawkish policy risks.

Meanwhile, market participants continue tracking evolving diplomatic signals regarding a potential US-Iran agreement to reopen the Strait of Hormuz.

From a technical view, resistance stands near $65.80, while support is located around $65.00.

Brent Crude Oil​

Brent climbed above $89 per barrel, extending its rally to a sixth session as traders assessed mixed signals over a possible US-Iran agreement. Pakistan's defense minister said the two sides were close to a Hormuz deal, while Iran-Oman talks reportedly advanced.

President Trump took a tougher stance, demanding compensation from Tehran for those killed in Iran-linked attacks.

Resistance is seen at 90.00, while the nearest support stands at 88.70.

Nasdaq 100​

The US 100 Tech Index traded at 29,535, down 96 points or 0.33%. The index has fallen 0.92% over the past four weeks but remains 23.84% higher over the last 12 months.

Trading Economics forecasts 29,092 by quarter-end and 27,281 within one year.

Resistance stands at 30,000, while the nearest support is located at 29,500.

Chinese Yuan (USD/CNH)​

The offshore yuan traded around 6.74 per dollar, holding its recent decline as softer inflation pointed to weak domestic demand.

Consumer inflation slowed to a six-month low of 0.5% in July, while producer price inflation eased to 3.5% from 4.1%, its first slowdown since returning to positive territory in March.

Resistance stands at 6.7550 while the nearest support is located at 6.7400.

Bitcoin (BTC/USD)​

Bitcoin traded at $63,768, up 219 points or 0.34%. The cryptocurrency has gained 2.47% over the past four weeks but remains 48.30% lower over the last 12 months.

Trading Economics forecasts Bitcoin at $66,236 by quarter-end and $73,276 within one year.

First resistance is seen at 65,900, with initial support near 62.500.

 

[zForex]

Cooling U.S. Inflation Supports Metals (08.13.2026)​

The U.S 10-year Treasury yield eased to around 4.68% as attention shifted to producer inflation. Softer CPI pushed Fed hike odds down to roughly 40%, but longer-term pressure persists. The government sold 10-year notes at 4.683%, the highest since the financial crisis, as inflation above target and wider budget deficits keep borrowing costs high.

The Dollar Index held near 99.9 after Wednesday’s swings, with July PPI next in focus. US CPI cooled to 3.4%, cutting Fed hike odds to around 40% from 50%. Deadlocked US-Iran talks kept the Hormuz outlook uncertain, while the yen’s approach toward 160 raised fresh intervention concerns.

Japan’s 10-year yield climbed to 2.86%, its highest in more than a month, as expectations for a possible September BOJ hike grew. Producer prices rose 7.2% in July, slightly below June’s 7.3%. The BOJ pointed to higher oil costs, AI-driven demand for metals and machinery, and tight labor conditions pushing wages higher.

Dow and S&P 500 futures were little changed, while Nasdaq 100 futures slipped after mixed tech results. Cisco fell 4% on a weaker AI data center sales outlook, while Coherent dropped 3% and Cerebras sank 16% after disappointing results. On Wednesday, the S&P 500 and Nasdaq gained while the Dow edged lower, with PPI now the next major inflation test.

Check more on zForex!​

Economic Calendar​

EUR/USD Steadies Near 1.1522​

EUR/USD hovers near 1.1522 as markets weigh diverging central bank outlooks. Cooling US inflation at 3.4% kept Federal Reserve rate hike probability near 40%, whereas persistent German inflation at 2.8% maintains European Central Bank rate increase expectations for September.

Additionally, crude prices topping $89 driven by Middle East geopolitical friction continue providing underlying support to the safe-haven dollar.

The first resistance is positioned at 1.1570 while the support starts from 1.1500.

Gold Retains $4,400 Level​

Gold maintains momentum above $4,400 per ounce near ten-week highs after July US inflation slowed to 3.4%, dampening Federal Reserve rate hike expectations. Probabilities for a September rate increase eased to 40%, while retreating crude prices provided additional support.

However, ongoing friction in US-Iran negotiations over the Strait of Hormuz continues to underpin safe-haven interest.

First resistance is seen at $4430, with initial support near $4370.

Yen Keeps Steady Near 159.3​

The Japanese yen hovered near 159.3 per dollar, keeping markets vigilant for potential official intervention approaching the 160 threshold. Broad interest rate gaps, fiscal pressures, and costly imports continue weighing on the currency, despite cooling US inflation easing Federal Reserve rate hike bets.

Meanwhile, Japan’s July producer prices rose 7.2%, reinforcing persistent domestic inflation risks.

First resistance is seen at 160.00, with initial support near 158.60.

GBP/USD Subdued Near 1.3487​

GBP/USD slipped slightly near 1.3487 as markets anticipate UK second-quarter economic growth slowing to 0.4%. With US inflation matching forecasts at 3.4%, the dollar remained largely flat.

Sterling maintains position above crucial support around 1.3425, though historical seasonal weakness during August could limit immediate upward momentum.

From a technical view, resistance stands near 1.3530, with support around 1.3400.

Silver Holds Seven-Week Highs​

Silver advanced toward $66 per ounce, holding near seven-week peaks after US inflation cooled to 3.4% in July. The slowdown reduced Federal Reserve rate hike expectations for September down to roughly 40%.

While easing crude prices offered additional tailwinds for precious metals, stagnant US-Iran discussions regarding the Strait of Hormuz maintained underlying geopolitical tension.

From a technical view, resistance stands near $65.80, while support is located around $64.50.

Brent Crude Oil​

Brent slipped toward $88 as investors weighed prospects for reopening the Strait of Hormuz. The IEA flagged a 1.8 million bpd supply shortfall this quarter, even as US crude inventories jumped 17.4 million barrels, their largest weekly rise since 2023.

Resistance is seen at 90.00, while the nearest support stands at 88.70.

Nasdaq 100​

Nasdaq-100 closed at 29,742.60 (+0.74%), consolidating just below the 30,000 psychological barrier.

Cooling US Core CPI (2.5%) supported tech valuations, while chipmakers like Nvidia gained on AI infrastructure funding, offsetting weakness in Microsoft and Apple. Rising oil prices near $90 on Strait of Hormuz tensions added occasional volatility to broader equities.

Resistance stands at 30,000, while the nearest support is located at 29,500.

Bitcoin (BTC/USD)​

Bitcoin trades near $63,361, consolidating below its 50-day EMA as it digests mixed signals. Cooling US CPI (3.4%) briefly supported sentiment, but a delayed Senate vote on the Clarity Act and $144.6M in ETF outflows pressured prices lower.

Outlook stays neutral-to-bearish between $62,000-$66,000, with $61,000 as key downside support.

First resistance is seen at 63.800, with initial support near 62.500.

Chinese Yuan (USD/CNH)​

USD/CNY trades near 6.7439, multi-month lows as the Yuan strengthens on strong export inflows and dollar liquidation by exporters.

Cooling US CPI (3.4%) has weakened broader dollar strength, while China's push to replenish oil reserves amid Middle East tensions adds localized currency demand. The PBOC set its fixing at 6.7888, with spot trading near the band's strong edge.

Resistance stands at 6.7550 while the nearest support is located at 6.7400.

 

[zForex]

GOLD (XAUUSD) Update​

Gold is trading around $4,391, with the macro backdrop still slightly supportive. Softer inflation expectations are easing some pressure from real yields, while ongoing tensions around the Strait of Hormuz continue to support safe-haven demand. Ceasefire headlines remain mixed, so sudden reversals are still possible.

Technically, the picture is improving. XAUUSD is holding above the 50-day SMA, MACD is rising, and RSI at 68.6 shows strong momentum. The chart also shows price recovering from the recent pullback and moving back above the short-term moving averages.

For now, $4,320-$4,250 is the main support area to watch. Holding above this zone keeps the bullish recovery intact, with $4,600 standing out as the next important resistance. A clean move above that level could open more upside, while a drop back below support would weaken the current setup.

 

[zForex]

Markets Stay Cautious Amid Geopolitical Uncertainties (08.14.2026)​

Global markets remained caught between cooling US inflation and persistent Middle East risks. Softer US CPI and core PPI data reduced expectations for a September Fed rate hike to around 35%, supporting gold despite recent profit-taking and helping risk assets.

In Europe, however, inflation expectations remained elevated at 2.4%, above the ECB's 2% target, after July CPI reached 2.9%. Combined with 0.4% Q2 GDP growth, this kept expectations for a 25-basis-point ECB hike in September intact and supported the euro near $1.153.

Geopolitics remained centered on the Strait of Hormuz, where stalled US-Iran negotiations continued to threaten energy supplies and inflation. Brent held near $87, with shipping continuing despite security risks.

Elevated energy and import costs also weighed on the Japanese yen, which traded near 159.4 per dollar. Meanwhile, softer US inflation helped the US 100 Tech Index advance, while Bitcoin remained under pressure near $63,280. The offshore yuan eased toward 6.74, driven mainly by a weaker PBOC fixing rather than geopolitical developments.

Economic Calendar​

Euro Holds Near $1.153​

The euro stabilized around $1.153 on Friday as markets evaluated Middle East geopolitical shifts, uncertain US-Iran agreement signals, and energy-driven inflation pressures. Eurozone inflation expectations held near 2.4%, surpassing the ECB's 2% target after July figures reached 2.9%.

However, underlying economic strength improved the broader outlook, supported by second-quarter GDP expansion of 0.4%. Given persistent price pressures and resilient economic activity, investors maintain expectations for a 25-basis-point European Central Bank rate increase in September.

The first resistance is positioned at 1.1570 while the support starts from 1.1500.

Gold Falls Below $4,350​

Gold slipped below $4,350 per ounce on Friday, continuing its downward slide as investors locked in profits while evaluating Federal Reserve policy signals and Middle East geopolitics. Tame US producer price data supported indications of moderate inflation following a muted CPI report, dropping September rate hike probabilities to roughly 35%.

However, lingering uncertainty surrounding delayed efforts to reopen the Strait of Hormuz maintained market caution regarding potential energy price spikes and renewed geopolitical friction.

First resistance is seen at $4385, with initial support near $4280.

Yen Heads for Weekly Loss​

The Japanese yen hovered near 159.4 per dollar on Friday, heading toward a 1% weekly decline as the absence of additional official intervention emboldened short positions. The currency has now erased roughly half its recent gains following late July's record joint market intervention by Tokyo and Washington.

Wide interest rate differentials, fiscal uncertainties, and elevated energy and import costs continue to exert persistent pressure on the yen.

First resistance is seen at 160.00, with initial support near 158.80.

Sterling Slips Below $1.35​

The British pound pulled back below $1.35 as investors weighed solid UK economic indicators against ongoing Middle East geopolitical friction. Second-quarter UK GDP grew 0.4% quarter-on-quarter, meeting forecasts, backed by a stronger 0.3% rise in June.

However, household consumption growth moderated to 0.2%, signaling persistent consumer financial pressure despite overall economic resilience.

From a technical view, resistance stands near 1.3530, with support around 1.3440.

Silver Drops Below $64​

Silver slid below $64 per ounce on Friday, continuing previous losses as investors secured profits and reevaluated Federal Reserve monetary policy. Cooler US core producer price data for July further confirmed moderating inflation following earlier soft CPI figures.

Financial markets reduced expectations for a 25-basis-point September rate hike to approximately 35%, down from 55% the previous week.

From a technical view, resistance stands near $65.00, while support is located around $63.05.

Brent Crude Oil​

Brent crude stabilized around $87 per barrel on Friday following earlier losses, as traders carefully tracked diplomatic discussions to reopen the Strait of Hormuz. Although negotiations remain stalled, crude shipments continue traversing the Persian Gulf, though several tankers have disabled transponders to navigate lingering maritime security hazards across the region.

Resistance is seen at 88.20, while the nearest support stands at 85.90.

Nasdaq 100​

The US 100 Tech Index traded near 29,985 on Friday, August 14, climbing 342 points or 1.15% from the prior session. The index advanced 1.64% over the past month and remains up 26.45% year-over-year. Trading Economics projects the index will ease to 29,092 by quarter-end and reach 27,281 within twelve months.

Resistance stands at 30,350, while the nearest support is located at 29,720.

Offshore Chinese Yuan (USD/CNH)​

The offshore yuan eased toward 6.74 per dollar on Thursday, surrendering earlier gains after a softer PBOC midpoint fixing weighed on sentiment. The central bank set the fixing rate at 6.7888 per dollar, falling 418 pips short of market forecasts.

While seasonal tailwinds heading into September may offer mild support, further currency strength rests heavily on future PBOC guidance.

Resistance stands at 6.7550 while the nearest support is located at 6.7400.

Bitcoin (BTCUSD)​

Bitcoin traded near $63,280 on Friday, August 14, slipping 126 points or 0.20% from the previous session. The cryptocurrency registered a 2.24% drop over the past four weeks and remains down 46.11% over the last year. Trading Economics projects Bitcoin will reach $66,236 by quarter-end and $73,276 within twelve months.

First resistance is seen at 63,800, with initial support near 62.500.

 

[zForex]

Weak U.S. Data Supports Metals and Currencies (08.17.2026)​

The US 10-year yield held near 4.69% after rising about 5bps Friday. Michigan one-year inflation expectations climbed above 4% for a fifth month, while the US-Iran ceasefire expires today with Hormuz talks still stalled. Despite softer inflation, consumer sentiment, and retail sales data, the probability of a September Fed hold has risen to 67% from below 50% a month ago.

The Dollar Index fell for a third session to around 99.5 as softer US data reduced Fed hike expectations. The probability of a September hold now stands near 67%, compared with below 50% a month ago. Focus turns to the FOMC minutes, Warsh’s Jackson Hole speech, and Empire State and NAHB data, with the dollar weakest against the Australian dollar, New Zealand dollar, and pound.

US stock futures edged higher as attention shifted to earnings from Home Depot, Lowe’s, and Walmart. Wednesday’s Fed minutes are also in focus after softer inflation reduced September hike expectations. The S&P 500 and Nasdaq have gained for three straight weeks, helped by strong earnings despite Middle East and AI concerns.

Japan’s 10-year yield jumped to 2.93%, its highest since 1996, as expectations for a BOJ hike grew. Q2 GDP expanded 1.1% annualized, below the 2% forecast, as weak domestic demand offset strong exports. The BOJ recently raised its FY2026 growth forecast to 0.6%, while yen weakness and inflation support calls for tighter policy.

Economic Calendar​

Euro Nears 1.1600​

The euro strengthened toward 1.1570, approaching resistance at 1.1600 as US dollar momentum wanes. Weak July US retail sales alongside muted inflation figures reduced September Fed rate hike odds to nearly 33%. Eurozone inflation at 2.9% supports continued ECB tightening expectations, though Middle East geopolitical tensions and rising European gas prices pose ongoing risks.

The first resistance is positioned at 1.1590 while the support starts from 1.1520.

Gold Breaks Above $4,400​

Gold advanced beyond $4,400 per ounce on Monday, building on momentum as muted US inflation, softening retail sales, and weakening consumer confidence lowered September Federal Reserve rate hike odds to nearly 33%. While traders await the upcoming FOMC minutes and Jerome Powell's Jackson Hole address, persistent geopolitical friction from fresh Middle East strikes and new Iranian sanctions supported bullion's safe-haven appeal.

First resistance is seen at $4420, with initial support near $4360.

Yen Recovers to 159​

The Japanese yen strengthened toward 159 per dollar on Monday, regaining ground lost last week as a softening US dollar reflected weaker economic data. Market expectations for the Federal Reserve to hold interest rates steady in September rose to roughly 67%. The yen gained despite Japan's second-quarter annualized GDP growth slowing to 1.1% due to sluggish domestic consumption, while traders remained vigilant for intervention and prospective Bank of Japan rate increases.

First resistance is seen at 160.00, with initial support near 158.60.

Sterling Consolidates Near 1.35​

GBP/USD trades near 1.35, maintaining a steady consolidation pattern. Technical levels show firm support at 1.3400 and strong resistance at 1.3600 as the market awaits a clear breakout catalyst. With cautious trading volumes preceding critical employment and inflation reports, traders continue balancing Federal Reserve rate expectations against Bank of England monetary policy, while broader market risk sentiment drives short-term direction.

From a technical view, resistance stands near 1.3570, with support around 1.3510.

Silver Climbs Near $66​

Silver climbed toward $66 per ounce on Monday, extending recent gains as soft US economic reports, including muted inflation, declining retail sales, and weakening consumer sentiment, reduced September Fed rate hike probabilities to roughly one-in-three. While investors await the FOMC minutes and Jackson Hole address for monetary policy guidance, geopolitical friction in the Middle East sustained safe-haven demand, even as ongoing regional oil shipments helped moderate broader energy inflation concerns.

From a technical view, resistance stands near $66.20, while support is located around $64.40.

Brent Crude Oil​

Brent crude held above $88/barrel, extending last week's gains as Middle East tensions stayed elevated after Israeli strikes on Lebanon killed 11 people, including a senior Hezbollah commander.

Trump is preparing fresh sanctions to pressure Iran as the interim US-Iran ceasefire nears expiry with Hormuz talks deadlocked, though covert crude flows through the strait capped price gains, while Iran and Oman appeared to near a separate arrangement on the waterway without US involvement.

Resistance is seen at 89.20, while the nearest support stands at 86.90.

Nasdaq 100​

The Nasdaq-100 closed under mild pressure at 30,046.14, down 0.13%, as technical profit-taking offset optimism around a cooling macro backdrop.

The tech-heavy index saw distribution near its all-time high of 30,762.20, with soft US inflation data bolstering Fed rate cut expectations, even as megacap tech adjusted to normalized growth and stabilizing Treasury yields kept a lid on breakout moves.

Resistance stands at 30,450, while the nearest support is located at 29,720.

Bitcoin (BTC/USD)​

Bitcoin traded under moderate pressure near $62,777, showing mild intraday stabilization above local support at $62,500.

The cryptocurrency remained locked in a range-bound corrective cycle since pulling back from early-year highs near $93,000, weighed down by muted institutional inflows, cautious ETF demand, and thin weekend liquidity, even as soft US inflation data supported broader risk assets.

First resistance is seen at 63,800, with initial support near 62.500.

Chinese Yuan (USD/CNH)​

The USD/CNH pair traded tight near 6.7412, holding a narrow range between 6.7401 and 6.7461 amid low volatility across Asian and early European sessions.

The offshore yuan saw modest monthly appreciation as steady PBoC fixings discouraged one-way depreciation bets, while muted US data kept the dollar subdued and mixed Chinese indicators balanced trade flows, leaving the pair range-bound near multi-month lows.

Resistance stands at 6.7550 while the nearest support is located at 6.7380.

 

[zForex]

Dollar Pressure Supports Euro as Metals Consolidate (08.18.2026)​

The Dollar Index hovered near a two-month low of 99.5 after soft retail sales, consumer sentiment, and inflation data reduced Fed hike expectations. A September hold is now expected, with a year-end hike no longer fully priced. Next up are the FOMC minutes and Warsh’s Jackson Hole speech.

Trump threatened military action against Oman if it interferes with US efforts as Iran and Oman reportedly moved closer to a deal over the Strait of Hormuz. The US-Iran 60-day toll-free memorandum is expiring, potentially allowing Iran to impose tolls, while Bessent warned of new sanctions on both countries.

Japan’s 10-year yield climbed to 2.95%, its highest since 1996, as fiscal concerns and September BOJ hike bets grew. Takaichi’s proposal to cut the food consumption tax to 1% for two years raised funding questions, while yen weakness and higher energy costs strengthened calls for tighter policy.

US stock futures extended losses after the Dow fell 0.51%, S&P 500 0.52%, and Nasdaq 0.32% Monday. Higher oil prices and a 30-year Treasury yield at its highest since 2007 added pressure. Earnings from Home Depot, Lowe’s, and Walmart are next in focus.

Economic Calendar​

EUR/USD Gains Momentum​

EUR/USD trades near 1.1580, showing solid structural momentum as shifting Fed rate expectations and ECB policy balance drive price action. Key resistance holds at 1.1600–1.1640, with support near 1.1530.

Traders now look toward upcoming US CPI, payrolls, and Eurozone PMI data, while easing geopolitical tension keeps the dollar under pressure and reinforces the euro.

The first resistance is positioned at 1.1600 while the support starts from 1.1530.

Gold Faces Resistance at $4,400​

Gold slipped below $4,400/oz Tuesday as bond yields hit multi-year highs on inflation and spending worries, with rising oil prices adding pressure. Fading US-Iran deal prospects also weighed on sentiment.

Still, gold found support as markets now expect the Fed to hold rates steady in September, dropping earlier bets on a year-end hike after weak US data. Strong investment demand and ongoing central bank buying, especially from China, continued to underpin bullion.

First resistance is seen at $4420, with initial support near $4360.

Yen Slips to 159.5​

The Japanese yen eased toward 159.5 per dollar on Tuesday, surrendering recent gains under the weight of fiscal worries and persistent inflation. Proposed food consumption tax cuts sparked funding concerns, while high energy costs weighed on sentiment.

Wide interest rate differentials continued to pressure the currency as global yields climbed, with traders anticipating a potential Bank of Japan rate increase in September.

First resistance is seen at 160.00, with initial support near 158.60.

GBP/USD Holds Above 1.35​

GBP/USD trades steadily near 1.3530, consolidating after recovering from earlier spring lows. Technical resistance caps gains around 1.365–1.370, while support sits firm between 1.34 and 1.35.

Sticky UK services inflation continues to temper aggressive Bank of England rate-cut bets, supporting sterling yields as the dollar consolidates ahead of upcoming Federal Reserve monetary policy signals.

From a technical view, resistance stands near 1.3570, with support around 1.3510.

Silver Slips Toward $65​

Silver pulled back toward $65 per ounce on Tuesday, surrendering recent gains as broader metals profit-taking and rising oil prices stirred inflation concerns. Diminished prospects for a US-Iran diplomatic resolution weighed on sentiment.

However, silver found underlying support from reduced Federal Reserve rate-hike expectations alongside strong industrial demand across green energy, electric vehicles, and artificial intelligence infrastructure.

From a technical view, resistance stands near $66.20, while support is located around $64.40.

Brent Crude Oil​

Brent climbed above $91/barrel for a third session after Trump ruled out extending the US-Iran interim deal, which expired Monday.

Iran and Oman are still negotiating a Hormuz shipping agreement without US involvement, but Washington is unlikely to support a deal without unrestricted passage.

Middle Eastern producers have also become more effective at routing oil through and around the strait.

Resistance is seen at 89.90, while the nearest support stands at 86.90.

Nasdaq 100​

The Nasdaq-100 closed at 29,995.38, easing from its 30,150.78 open as resistance near recent highs limited gains.

Inflation and a higher-for-longer Fed outlook are putting pressure on megacap valuations, while strong AI spending on data centers and computing infrastructure continues to support the tech sector.

Resistance stands at 30,450, while the nearest support is located at 29,620.

Offshore Chinese Yuan​

USD/CNY traded near 6.74, its lowest in more than two years, as a softer dollar and stable yuan extended the pair's multi-month decline.

The PBOC's daily fixing helped limit capital outflows, while targeted stimulus supported manufacturing confidence.

Narrower yield differentials and resilient Asian trade demand also reduced the dollar's carry advantage.

Resistance stands at 6.7560 while the nearest support is located at 6.7340.

Bitcoin (BTC/USD)​

Bitcoin rose 2.72% in 24 hours to $64,100, despite $385-390 million in weekly spot ETF outflows.

More than $180 million in short liquidations added buying pressure, while stalled US crypto legislation left Bitcoin sensitive to broader economic data.

First resistance is seen at 66,400, with initial support near 61.700.

 

[zForex]

Euro Hits Two-Month High as Metals Fall (08.19.2026)​

Global markets remained focused on diverging central bank expectations, rising bond yields, and renewed Middle East tensions. The euro reached a two-month high as markets reduced Federal Reserve tightening expectations while maintaining bets on a September ECB hike.

US stock futures slipped after Tuesday’s sharp tech and semiconductor selloff. The Dow fell 0.22%, S&P 500 0.69%, and Nasdaq 1.33%, its third straight decline. Micron, Sandisk, and Intel tumbled as higher yields, rising oil, and stalled US-Iran Hormuz talks added pressure.

Asian equities followed Wall Street lower, led by semiconductor and tech stocks. South Korea’s KOSPI plunged around 5%, while Japan’s Nikkei fell more than 2%, with higher bond yields and oil prices adding to the decline.

The Dollar Index held near 99.6 after hitting a two-month low earlier this week. July’s Fed minutes are next after three officials backed a hike, although weak US data has lifted the probability of a September hold to 65%. Warsh’s Jackson Hole remarks are also in focus.

The US 10-year yield eased toward 4.7%, while the 30-year recently reached a 19-year high. Rising debt issuance, inflation concerns, and up to $1.5 trillion in estimated AI-related corporate bond supply this year have increased concerns over borrowing needs and pushed term premiums higher.

Economic Calendar​

Euro Reaches Two-Month High​

The euro advanced to approximately $1.1585, marking its highest level in two months due to diverging rate expectations between central banks. Financial markets have scaled back Federal Reserve rate-hike predictions while pricing an 84% likelihood of a quarter-point European Central Bank increase in September.

Accelerated Eurozone inflation at 2.9% in July, fueled by Middle East energy disruptions, continues keeping the currency pair within a steady consolidation range.

The first resistance is positioned at 1.1600 while the support starts from 1.1530.

Yen Still Remains Near 159.5​

The Japanese yen hovered around 159.5 per dollar on Wednesday, consolidating over the past week after surrendering recent intervention gains. Persistent yield gaps, government spending worries, and high import costs continue weighing on the currency.

However, stronger June machinery orders jumping 9.7% and 10-year JGB yields touching 30-year highs have reinforced market expectations for a Bank of Japan interest rate increase in September.

First resistance is seen at 160.00, with initial support near 158.60.

Sterling Softens to 1.353​

The British pound pulled back to roughly $1.353, easing from three-month highs as softening labor data pressured sterling. Unemployment held at 4.9%, while moderating wage growth supported expectations for a Bank of England rate pause.

Meanwhile, geopolitical friction supported crude prices and revived safe-haven dollar demand ahead of key UK inflation figures.

From a technical view, resistance stands near 1.3570, with support around 1.3510.

Silver Drops Below $63​

Silver fell below $63 per ounce on Wednesday, continuing its recent retreat under pressure from climbing global bond yields and a 19-year high on the 30-year Treasury yield.

Rising crude oil prices and heightened Middle East geopolitical friction increased headwinds, while market participants turned their focus toward upcoming FOMC minutes and central bank commentary at Jackson Hole.

From a technical view, resistance stands near $65.20, while support is located around $61.80.

Brent Crude Oil​

Brent climbed toward $91.70/barrel for a fourth straight session as stalled US-Iran talks kept Hormuz supply concerns in play.

Trump confirmed that no negotiations were underway and maintained the naval blockade, while Iranian forces increased attacks on vessels, with eight strikes reported this month. US crude inventories fell 328,000 barrels last week after a 9.07 million-barrel build the week before.

Resistance is seen at 92,30, while the nearest support stands at 90.00.

Nasdaq 100​

The Nasdaq-100 fell more than 500 points to 29,490.96 after recently trading above 30,000. Tech and growth stocks came under pressure before the Fed minutes, while Eurozone inflation at 2.9% pushed global bond yields higher.

Higher yields added pressure to valuations, with profit-taking also weighing after the index’s multi-week run to record highs.

Resistance stands at 29,850, while the nearest support is located at 29,200.

Bitcoin (BTC/USD)​

Bitcoin traded near $64,365 as traders positioned cautiously before the Fed minutes, with signs of tighter policy potentially limiting gains. Middle East tensions also weighed on sentiment, while returning spot ETF inflows and corporate cash reserves helped limit deeper losses.

Regulatory developments in Washington remain important for the longer-term outlook.

First resistance is seen at 66,400, with initial support near 61.700.

Chinese Yuan (USD/CNH)​

USD/CNY traded near a multi-month low of 6.7432 as softer global rate expectations weighed on the dollar. The PBOC set its daily fixing at 6.7421, close to consensus, suggesting comfort with current pricing.

Weaker US consumer sentiment and retail data added pressure on the dollar, while Hormuz-related energy risks kept China’s oil demand and yuan stability in focus.

Resistance stands at 6.7560 while the nearest support is located at 6.7340.

 

[zForex]

+ Gold update +

Gold Jumps Toward $4,460 as Treasury Yields Ease​

Gold has made a strong move higher, with XAU/USD now trading around $4,456, up roughly 2.8% on the session based on the latest chart. One important driver is the bond market. Yesterday’s Treasury selloff pushed long-term yields to multi-year highs and actually pressured gold. Today, that selloff has cooled and yields have moved back down, removing some of the pressure on non-yielding assets like gold.

The 30-year Treasury yield had climbed above 5.3%, its highest since 2007, before yields started easing again. At the same time, US-Iran tensions and continued uncertainty around the Strait of Hormuz are keeping safe-haven demand alive, giving gold support from both the rates and geopolitical sides.

Technically, the latest rally has improved the picture quite a bit. Gold is back above the moving-average zone around $4,327 and $4,248, while MACD is rising and RSI near 60.6 still leaves room before momentum becomes stretched. The bigger test now sits around $4,600, which lines up with an important resistance area on the chart.

For now, buyers clearly have control, but the move still needs confirmation above $4,600. A rejection there could bring $4,330 back into focus, while a clean break would strengthen the case for another leg higher. The next major wildcard is the FOMC minutes, especially after July’s divided Fed decision.

 

[zForex]

Dollar Weakens as Falling Yields Lift Markets (08.20.2026)​

Global markets responded to falling U.S. Treasury yields after expanded government bond buybacks eased long-term borrowing costs and pressured the dollar.

Treasury Secretary Bessent will double buybacks of 10-, 20-, and 30-year Treasuries starting September 9, after the 30-year yield reached a 19-year high. Analysts say the move could complicate Warsh’s job by countering yield increases that help tighten financial conditions, potentially requiring more aggressive Fed hikes.

The Dollar Index held near a three-month low of 98.8 after the Treasury moved to contain long-term borrowing costs by at least doubling buybacks of 10-to-30-year debt. July Fed minutes showed some officials favored a hike this year, while the US-Iran stalemate kept inflation concerns alive.

Asian stocks rebounded as global yields pulled back from multi-year highs following the Treasury announcement. South Korea’s KOSPI surged 6% as chipmakers recovered, while Japan’s Nikkei gained 1% and its 10-year yield retreated from a 30-year high.

US stock futures edged higher after the Dow gained 0.22%, S&P 500 0.21%, and Nasdaq 0.16% Wednesday, ending the Nasdaq’s three-session decline. Lower Treasury yields supported the rebound, with Walmart earnings and jobless claims next on the calendar.

Economic Calendar​

EUR/USD Holds Near 1.1677​

EUR/USD traded around 1.1677 on Thursday, driven by diverging monetary policy paths between central banks. While sticky inflation continues to back the dollar, Europe's fragile economic recovery limits the ECB's maneuvering room.

Expanded US Treasury bond buybacks added market liquidity without lifting the dollar, whereas surging European natural gas prices linked to Middle East supply disruptions sustain inflation risks, strengthening cases for further ECB rate hikes.

The first resistance is positioned at 1.1700 while the support starts from 1.1640.

Gold Holds Near $4,500​

Gold stabilized near $4,500 per ounce on Thursday following a sharp 4% rally. The advance was fueled by falling Treasury yields after the US government doubled debt buybacks to temper long-term borrowing costs.

While lower yields provided support, recent Federal Reserve minutes revealed some officials favored raising interest rates, leaving investors focused on persistent inflation risks stemming from Middle East tensions.

First resistance is seen at $4530, with initial support near $4440.

Yen Trades Near 158​

The Japanese yen hovered around 158 per dollar on Thursday, consolidating after a 1% gain driven by sliding US Treasury yields and an expanded American bond buyback initiative.

Despite the temporary relief, persistent yield gaps, fiscal strain, and high import costs continue to weigh on the yen, highlighted by Japan's widening July trade deficit caused by record crude oil purchases.

First resistance is seen at 159.50, with initial support near 157.20.

GBP/USD Nears Key Resistance​

GBP/USD hovered around 1.3611 on Thursday, extending a four-week rally near multi-month highs. While a July inflation rise to 2.9% provided underlying support, a softening labor market tempered sentiment.

The primary bullish driver remains a weakening dollar, which fell to a three-month low as the US Treasury expanded bond buybacks, dragging yields lower.

From a technical view, resistance stands near 1.3640, with support around 1.3590.

Silver Holds Near $67​

Silver stabilized near $67 per ounce on Thursday following a 6% surge, supported by dropping Treasury yields after the US government expanded debt buybacks to restrain borrowing costs.

Reduced yields helped lower the opportunity cost of holding non-yielding metals. However, persistent US-Iran tensions and Federal Reserve minutes hinting that some officials favor rate hikes kept inflation risks in focus.

From a technical view, resistance stands near $67.50, while support is located around $63.80.

Brent Crude Oil​

Brent held near $92/barrel, up more than 3% this week, as the US-Iran impasse and Strait of Hormuz tensions supported prices.

Trump said oil was still flowing and indicated openness to restarting talks. The UAE suspended financial ties with Iran after accusing it of ballistic missile attacks, adding economic pressure, while Gulf producers used alternative routes for crude shipments.

US EIA data showed crude inventories rose 4.4 million barrels last week, while distillate stocks fell to a one-month low.

Resistance is seen at 92.50, while the nearest support stands at 90.00.

Nasdaq 100​

The Nasdaq-100 traded near 29,525, with futures moving higher as lower Treasury yields and a weaker dollar improved the backdrop following the Treasury’s expanded bond buyback plan.

However, high 30-year yields, inflation concerns, and Middle East-driven oil prices still pose challenges.

Semiconductor and AI stocks remain a key source of weakness after heavy selling during the recent tech pullback.

Resistance stands at 29,850, while the nearest support is located at 29,200.

Chinese Yuan (USD/CNH)​

USD/CNH traded near 6.725, close to multi-year lows as the yuan strengthened against the dollar.

The PBOC set a slightly stronger daily fixing, suggesting it is comfortable with further yuan gains while controlling the pace.

Dollar weakness and resilient yuan performance kept the pair tilted lower, although proximity to key support levels reduced room for further short positioning.

Resistance stands at 6.7400 while the nearest support is located at 6.7150.

Bitcoin (BTC/USD)​

Bitcoin pushed toward $68,900, supported by factors extending beyond short-term price action.

Persistent ETF inflows are reducing OTC desk supply, shifting more price discovery toward public order books. Bitcoin is also drawing demand as a hedge against fiat depreciation and sovereign debt risk.

On-chain indicators, including illiquid supply, exchange outflows, and stablecoin ratios, point to accumulation rather than purely speculative momentum.

First resistance is seen at 70,000, with initial support near 66.700.

 

[zForex]

Gold Pulls Back to $4,460 but Bullish Structure Holds​

Gold is trading around $4,460, down roughly 1.4%, as the market balances strong safe-haven demand against a still-hawkish Fed backdrop. Iran-related tensions, renewed Russia-Ukraine attacks, and broader geopolitical risks continue to support bullion, but the latest FOMC minutes showed that several officials were open to a July rate hike.

Technically, the setup still leans moderately bullish. Gold remains above the key moving-average zone near $4,331 and $4,259, while MACD is rising and RSI around 66 shows solid momentum without being fully overbought.

The main hurdle remains the $4,600 area. A clean break above it would strengthen the recovery and could open another leg higher. On the downside, $4,330 is the first important support, followed by the $4,260 zone.

For now, buyers still have the stronger structure, but the move may stay choppy. Geopolitical headlines support the upside, while any renewed rise in US yields or hawkish Fed repricing could quickly slow the rally.

 

[zForex]

Bitcoin Breaks Above $72,000 as Short Squeeze Accelerates​

Bitcoin has pushed above $72,000 for the first time since June 1, with around $3.4 billion in leveraged positions liquidated over 24 hours. A softer dollar, stronger crypto-policy optimism in the US, and renewed ETF inflows have all helped the move.

The rally also looks heavily driven by short covering. Bitcoin spent weeks trapped below the $67,000 area, so the breakout forced bearish positions to close quickly. That added extra fuel to an already strong risk-on move.

Technically, BTC has broken above its key moving averages near $66,500 and $64,800 and is now testing the upper part of the $67,000 to $72,000 resistance zone. MACD is rising, but RSI near 74 suggests momentum is already stretched.

For now, the bias remains bullish while Bitcoin holds above the former breakout area. A clean move above $72,000 could extend the rally, but after such a sharp squeeze, some consolidation or a pullback toward $68,000 to $67,000 would not be surprising.