The euro slipped to $1.1315 on Tuesday, pressured by dollar strength ahead of the Federal Reserve’s rate decision. The yen also weakened toward 144, while gold surged to nearly $3,360 as renewed tariff threats increased safe-haven demand.
Sterling dipped to $1.3265, awaiting both Fed and Bank of England policy updates. Silver remained steady at nearly $33 as global uncertainty persisted.
The Japanese yen edged lower toward 144 per dollar on Tuesday, as the U.S. dollar strengthened amid optimism over potential U.S.-China trade talks and investor caution ahead of the Federal Reserve’s policy decision. President Trump suggested a possible reduction in tariffs on Chinese goods. Meanwhile, the Bank of Japan held rates steady but revised its growth and inflation outlook. Trading activity remained subdued due to a public holiday in Japan.
Resistance is located at 145.90, followed by 146.75 and 149.80. On the downside, support levels are at 139.70, then 137.00 and 135.00.
Gold climbed to nearly $3,360 per ounce on Tuesday, marking its highest level in over a week, as renewed tariff threats from President Trump increased safe-haven demand. Trump announced a 100% tariff on foreign films and signaled upcoming measures targeting pharmaceuticals. Investors are now focused on the Federal Reserve’s policy decision, with rates expected to stay unchanged despite Trump’s push for cuts.
Resistance is expected at $3,385, then $3,450 and $3,500. Support stands at $3,300, followed by $3,265 and $3,200.
Daily Analysis by zForex Research Team - 07.05.2025
Global Markets Await Fed as Dollar Steadies
The euro edged down to $1.1338 on Wednesday, pressured by political uncertainty in Germany and caution ahead of the Federal Reserve’s rate decision.
The yen reversed recent gains as optimism grew over U.S.-China trade talks, while gold and silver retreated on reduced safe-haven demand. The British pound held near $1.335 ahead of the Bank of England’s expected rate cut and forecasts.
EUR/USD Analysis by zForex Research Team - 07.05.2025
Euro Slips to $1.1338 Ahead of Fed Decision
The euro fell 0.2% to $1.1338 on Wednesday, retreating from recent gains amid political developments in Germany. Although the U.S. dollar remained under pressure due to global outflows and trade-related uncertainty, the euro lacked clear direction as markets awaited the Federal Reserve’s policy decision. With rates likely to remain unchanged, uncertainty around future cuts and U.S. inflation kept EUR/USD range-bound.
Resistance levels are seen at 1.1460, then 1.1580 and 1.1680, while support rests at 1.1260, followed by 1.1200 and 1.1150.
Gold Analysis by zForex Research Team - 07.05.2025
Gold Falls Below $3,380 on Trade Talk Hopes
Gold fell below $3,380 per ounce on Wednesday, ending a two-day rally, as news of an upcoming US-China meeting reduced safe-haven demand. The talks aim to ease trade tensions after last month’s tariff hikes by both nations. Investors now await the Federal Reserve’s policy decision and comments from Chair Powell, with rates expected to remain unchanged despite political pressure for cuts.
Resistance is expected at $3,460, then $3,500 and $3,550. Support stands at $3,350, followed by $3,300 and $3,265.
Daily Analysis by zForex Research Team - 08.05.2025
Traders Weigh BoE Cut and Trade Announcements
The EUR/USD pair hovered above 1.1300 with reduced political uncertainty in Europe. The Japanese yen firmed to 143.6 per dollar as global trade tensions renewed precious metals interest and BoJ minutes signaled cautious openness to further hikes.
Gold slipped to $3,360 as the Fed held rates and dismissed preemptive cuts, though trade risks limited losses. GBP/USD remained steady near 1.33 ahead of a likely BoE rate cut, with optimism around a new UK-India trade deal offering support.
Yen Analysis by zForex Research Team - 08.05.2025
Yen Firms with BoJ Caution
The Japanese yen strengthened to around 143.6 per dollar on Thursday, recovering as rising global trade uncertainty stimulated demand for gold. The move followed President Trump’s announcement of a deal with a “big” country, reportedly the UK, and his refusal to cut tariffs on China ahead of U.S.-China talks in Switzerland. U.S.-Japan negotiations continue, with Tokyo aiming to finalize a bilateral deal by June. Meanwhile, BoJ minutes showed policymakers remain open to rate hikes if inflation targets are met, though they flagged external risks from U.S. trade policy.
Resistance stands at 145.90, with further levels at 146.75 and 149.80. Support is found at 139.70, then 137.00 and 135.00.
Silver Analysis by zForex Research Team - 08.05.2025
Silver Slips as Fed Holds Rates
Silver rose more than 1% to approach the $33 mark on Thursday, supported by renewed interest on precious metals with ongoing trade and economic uncertainty. The Federal Reserve left interest rates unchanged, with Chair Powell citing heightened risks while dismissing the need for early rate cuts. Sentiment was also influenced by President Trump’s announcement of an imminent trade deal, reportedly with the UK, and his firm stance on maintaining tariffs against China ahead of upcoming negotiations.
Technically, resistance is seen at $33.80, followed by $34.20 and $34.85, while support levels are noted at $32.00, $31.40, and $30.20.
EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback.
EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback. Gold and silver both eased, with gold dipping toward $3,290 and silver trading near $32.50 on waning safe-haven demand. GBP/USD held around 1.3240 after initial gains from a BoE rate cut faded with concerns over lingering US tariffs.
EUR/USD edged up to 1.1230 in Friday’s Asian session, paring earlier losses caused by stronger U.S. data and easing trade tensions that supported the dollar. The euro remains under pressure as markets price in possible ECB rate cuts by June, though officials maintain confidence in inflation reaching the 2% target by year-end.
The pair faces resistance at 1.1260, with further upside capped near 1.1460 and 1.1580. On the downside, support is seen at 1.1150, followed by 1.1100 and 1.1050.
Gold extended losses for a third day, dropping toward $3,290 as market appetite for risk improved ahead of U.S.-China trade talks. The announcement of a U.S.-UK trade deal also contributed to reduced safe-haven demand. The Fed held rates steady as expected, warning of risks to inflation and jobs but avoiding any hint of preemptive cuts. Still, gold is poised for a weekly gain.
Resistance is seen at $3,360, $3,430, and $3,500, while support holds at $3,270, $3,200, and $3,165.
Soft CPI Lifts EUR, Weighs on USD
Soft U.S. inflation data weakened the dollar and lifted risk sentiment. EUR/USD climbed toward 1.1200, supported by falling U.S. CPI, while USD/JPY slipped toward 147 as the yen rebounded.
Gold dipped below $3,230 despite Fed rate cut bets, and silver retreated to mid-$31s after briefly breaching $33. GBP/USD held firm near 1.3300, steadying after tariff relief and ahead of key UK growth data.
EUR/USD at 1.1200 as Dollar Weakens on Soft CPI
EUR/USD climbed to around 1.1195 in Wednesday’s Asian session, recovering after a sharp 2.5% drop. The rebound followed underperforming U.S. CPI data for April, with annual inflation slowing to 2.3% from 2.4%, the lowest since February 2021.
Core CPI remained steady at 2.8%, in line with expectations. The softer data pressured the U.S. dollar and lifted the euro. Attention now shifts to Germany’s HICP release for fresh direction.
The pair faces resistance at 1.1260, with further upside at 1.1460 and 1.1580, while support sits at 1.1040, followed by 1.1000 and 1.0960.
Gold Under $3,230 with Risk-On Mood
Gold edged lower to around $3,230 in Wednesday’s session, facing selling pressure after optimism over a U.S.-China trade breakthrough reduced safe-haven demand. The recent tariff agreement lifted broader market sentiment, keeping gold near its weekly lows.
However, softer U.S. inflation data raised expectations for potential Fed rate cuts, slightly supporting the non-yielding metal. Traders await a firm break below the $3,200 level for signs of deeper downside.
Gold sees resistance at $3,325, $3,360, and $3,440, while support is held at $3,235, $3,200, and $3,165.
The euro regained ground near 1.1200, supported by reserve status momentum and a weaker dollar, while the Japanese yen strengthened on growing pressure to eliminate U.S. car tariffs.
Gold hovered near $3,155 after a sharp drop, weighed by improved risk appetite, and silver slipped below $31.90 despite soft inflation data aiding foreign demand. Meanwhile, GBP/USD climbed toward 1.3300, supported by easing U.S. tariffs on British goods and expectations for key UK GDP data.
The Japanese Yen strengthened to around 146 per dollar, marking its third straight gain as global trade concerns weighed on the U.S. Dollar. Asian currencies broadly rose with speculation that the U.S. may be favoring a weaker Dollar to aid trade talks. Trump’s administration argues that undervalued Asian currencies create unfair competition for American exporters.
Meanwhile, Japan continues U.S. trade negotiations, with PM Shigeru Ishiba pushing for a deal that includes the auto sector and the removal of the 25% car tariff.
USD/JPY faces resistance at 148.60, with further levels at 149.80 and 151.20. Major support is seen at 139.70, then 137.00, and 135.00.
EUR/USD traded around 1.1200 during Thursday’s Asian session, rebounding ahead of the Eurozone’s Q1 2025 GDP report. The Euro remains supported by its rising role in global reserves, with Capital Economics noting its strongest position in years. U.S. policies under President Trump set this shift in motion, which is seen as weakening the dollar’s appeal as a popular asset. Germany’s increased fiscal spending has also lifted euro demand.
Despite ECB officials signaling more rate cuts, the Euro holds steady against a softer U.S. Dollar, which remains pressured by lingering trade uncertainty. Markets are now focused on U.S. retail sales and PPI data, while speculation grows that the U.S. might allow a weaker Dollar to aid exports.
EUR/USD faces resistance at 1.1260, with further upside near 1.1460 and 1.1580. Support begins at 1.1040, followed by 1.1000 and 1.0960.
Daily Analysis by zForex Research Team - 19.05.2025
Dollar Strengthens on Trade Deal Pause
The U.S. dollar gained traction Monday after the U.S. and China agreed to pause retaliatory tariffs for 90 days, prompting a gap lower in EUR/USD to 1.1064. Meanwhile, Moody’s downgraded the U.S. credit rating, citing fiscal concerns, sparking risk aversion and supporting safe-haven assets like gold and the yen.
Gold rebounded to $3,220, while silver hovered near $32.30. The pound climbed toward 1.3300 on weak U.S. data and firm UK GDP. Equities showed mixed sentiment amid policy and geopolitical uncertainty.
USD/JPY Analysis by zForex Research Team - 19.05.2025
Yen Strengthens as U.S. Rating Cut Sparks Risk Aversion
USD/JPY declined to around 144.80 on Monday, hitting its lowest level in over a week amid renewed selling pressure during Asian trading. The pair extended last week’s pullback from a nearly six-week high, driven by firm expectations that the Bank of Japan may raise interest rates again in 2025. Additionally, Moody’s unexpected downgrade of the U.S. sovereign credit rating to “Aa1” from “Aaa” heightened market caution. The agency cited growing national debt as the key concern, prompting risk aversion and supporting the safe-haven Japanese yen.
The key resistance is at $148.60 meanwhile the major support is located at $139.70.
