Global markets started the week with a cautious risk-on tone as renewed U.S.–Iran diplomatic efforts eased geopolitical concerns and weighed on oil prices.
The softer inflation outlook supported gold, silver, and major currencies against the dollar, while investors continued to assess the Federal Reserve's policy outlook. Attention now turns to Friday's U.S. nonfarm payrolls report, which could shape expectations for a potential September rate move.
| Time | Cur. | Event | Forecast | Previous |
| 13:45 | USD | S&P Global Manufacturing PMI (Jul) | 53.8 | 53.8 |
| 14:00 | USD | ISM Manufacturing PMI (Jul) | 54.0 | 53.3 |
| 14:00 | USD | ISM Manufacturing Prices (Jul) | 70.0 | 73.0 |
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.
| R1: 1.1560 | S1: 1.1500 |
| R2: 1.1590 | S2: 1.1460 |
| R3: 1.1680 | S3: 1.1400 |
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.
| R1: 4085 | S1: 4020 |
| R2: 4120 | S2: 3970 |
| R3: 4160 | S3: 3900 |
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.
| R1: 157.30 | S1: 155.30 |
| R2: 158.60 | S2: 153.80 |
| R3: 160.00 | S3: 151.50 |
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.
| R1: 1.3500 | S1: 1.3360 |
| R2: 1.3540 | S2: 1.3300 |
| R3: 1.3600 | S3: 1.3240 |
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.
| R1: 58.90 | S1: 57.15 |
| R2: 60.00 | S2: 55.70 |
| R3: 61.50 | S3: 54.00 |
Fed Inflation Concerns RemainThe latest Federal Reserve minutes show that inflation remains a central concern for policymakers, even as recent economic data has reduced the urgency for another rate increase. Some officials believe price pressures are becoming more widespread, while a smaller group directly supported further tightening.
Detail
Dollar Falls on Debt Concerns as Yields Rise (24 – 28 August)Global markets entered the week with the US dollar under continued pressure as concerns over federal debt and Treasury market management moved to the center of investor attention. The Dollar Index hovered near 98.8 following sharp losses in the previous week, while the US Treasury’s expanded bond buyback programme pushed longer-term yields and the dollar lower. The move supported gold, silver, and major currencies, while investors assessed its longer-term implications for US borrowing costs and the yield curve.
Detail Persistent USD Weakness Lifts Yields (08.24.2026)Global markets remained shaped by persistent U.S. dollar weakness, shifting central bank expectations, and renewed Middle East risks.
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