Japanese bond yields held near 18-year highs at 1.96% amid strong economic data and expectations of a BoJ rate hike, while the dollar index lingered near two-month lows due to mixed labor reports. Gold climbed above $4,320, approaching record highs, driven by safe-haven demand and expectations of anticipated Fed cuts for 2026.
Yet, US stock futures retreated as conflicting November jobs data showed both growth and rising unemployment. This signaled a cooling labor market and dampened hopes for aggressive easing.
| Time | Cur. | Event | Forecast | Previous |
| GBP | CPI (YoY) (Nov) | 3.5% | 3.6% | |
| EUR | CPI (YoY) (Nov) | 2.2% | 2.2% | |
| USD | Crude Oil Inventories | -2.400M | -1.812M |
The EUR/USD pair fell toward 1.1730 during early European trading as the US Dollar found renewed strength. Potential declines might be restricted because investors anticipate the ECB will maintain interest rates at 2% during the upcoming Thursday session. Although November payrolls grew by 64,000, exceeding expectations, a rise in unemployment to 4.6% suggests a softening labor market that may eventually limit the strength of the greenback.
Technically, 1.1710 is the key support, while resistance is seen at 1.1800.
| R1: 1.1800 | S1: 1.1710 |
| R2: 1.1860 | S2: 1.1600 |
| R3: 1.1910 | S3: 1.1510 |
USD/JPY ascended past the 155.00 level during Asian trading as the US Dollar gained momentum, putting pressure on the Yen. However, further JPY depreciation may be contained by anticipated Bank of Japan rate hikes this Friday and safe haven demand from softer stock markets. Monetary policy divergence with the Fed, where rate cut expectations remain, could limit Dollar strength. Investors are focusing on Thursday’s US inflation data for direction.
Technically, resistance stands near 155.30, while support is firm at 154.30.
| R1: 155.30 | S1: 154.30 |
| R2: 156.00 | S2: 153.60 |
| R3: 156.70 | S3: 152.80 |
Gold (XAU/USD) climbed past $4,300 to reach nearly seven-week highs during Asian trading. The move was fueled by a weaker US Dollar following mixed labor reports that strengthened the case for additional Fed rate cuts. Because lower interest rates reduce the cost of holding non-yielding bullion, demand has increased. While the Fed eased rates last week, officials are divided on 2026 plans. Markets now await US inflation data for direction.
Gold sees support near $4275, while resistance is around $4350.
| R1: 4350 | S1: 4275 |
| R2: 4400 | S2: 4230 |
| R3: 4450 | S3: 4195 |
GBP/USD advanced to approximately 1.3425 in early Asian trading, supported by strong UK flash PMI data. The Composite PMI reached 52.1, surpassing market forecasts, as both manufacturing and services sectors outperformed expectations. This surge in services activity strengthened the Pound relative to the Dollar. However, further gains might be restricted because investors largely expect the Bank of England to reduce interest rates by 25 basis points to 3.75% during Thursday's meeting.
From a technical view, support stands near 1.3350, with resistance around 1.3450.
| R1: 1.3450 | S1: 1.3350 |
| R2: 1.3520 | S2: 1.3270 |
| R3: 1.3560 | S3: 1.3200 |
Silver (XAG/USD) hit a historic high near $66 during Asian trading as US economic anxieties intensified. Reports revealed 4.6% unemployment, stagnant Retail Sales, and a lower 53.0 flash PMI. These factors triggered significant safe haven demand. Silver remains bullish because of expected 2026 Fed rate cuts. Markets are currently pricing a high chance of at least two interest rate reductions next year.
From a technical view, resistance stands near $67.00 while support is located around $62.80.
| R1: 67.00 | S1: 62.80 |
| R2: 69.00 | S2: 61.90 |
| R3: 73.00 | S3: 60.80 |
Global markets remained cautious ahead of the latest U.S. inflation report as renewed U.S.–Iran tensions and disruptions in the Strait of Hormuz kept energy markets on edge.
Geopolitics Fuel Inflation Fears (13 – 17 July)Global markets remained driven by geopolitical developments this week as renewed US-Iran strikes and uncertainty surrounding the ceasefire kept investors focused on inflation risks and the outlook for monetary policy. Although oil prices eased toward the end of the week as diplomatic talks continued, supply disruptions in the Strait of Hormuz continued to support energy markets. Investors also assessed the latest Federal Reserve commentary and June FOMC minutes, which highlighted persistent concerns over inflation despite keeping interest rates unchanged.
Detail Markets Await Inflation Amid Conflicts (07.13.2026)Global markets started the week cautiously as renewed U.S.–Iran tensions lifted oil prices and reinforced inflation concerns.
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