Markets moved sideways as investors balanced easing inflation pressures with ongoing geopolitical risks.
EUR/USD held below 1.17 as expectations for further ECB rate hikes increased, while sterling remained steady near recent highs with similar tightening outlooks. The Japanese yen hovered around 159, supported by lower oil prices but still pressured by economic concerns. In commodities, gold and silver maintained their upward momentum, supported by a softer dollar and reduced inflation fears following the US-Iran ceasefire. Overall, sentiment remained cautious, with attention shifting toward upcoming diplomatic talks and policy expectations.
| Time | Cur. | Event | Forecast | Previous |
| 09:00 | EUR | German CPI (MoM) (Mar) | 1.1% | 0.2% |
| 15:30 | USD | CPI (MoM) (Mar) | 1.0% | 0.3% |
| 15:30 | USD | Core CPI (MoM) (Mar) | 0.3% | 0.2% |
| 15:30 | USD | CPI (YoY) (Mar) | 3.4% | 2.4% |
EUR/USD traded flat under 1.17 amid ongoing geopolitical risks. Meanwhile, market participants are raising their expectations for further interest rate hikes by the European Central Bank.
For EUR/USD, the initial resistance is seen at 1.1700, while the closest support is positioned at 1.1620.
| R1: 1.1700 | S1: 1.1620 |
| R2: 1.1750 | S2: 1.1570 |
| R3: 1.1800 | S3: 1.1400 |
Gold remained steady above $4,700 per ounce, heading for its third weekly advance. Lower oil prices following the US-Iran ceasefire eased inflation fears, while a softening dollar and safe-haven interest provided further support. Market attention is now turning to scheduled diplomatic discussions in Islamabad between Iranian and American representatives.
First resistance is seen at $4850, with initial support near $4740.
| R1: 4850 | S1: 4740 |
| R2: 4920 | S2: 4690 |
| R3: 5000 | S3: 4550 |
The yen stayed around 159 per dollar. Lower oil prices provided support, yet worries regarding Japan’s economic prospects and high energy costs continued to pressure the currency.
Initial resistance stands at 159, while the first support is located at 157.90.
| R1: 159.00 | S1: 157.90 |
| R2: 159.80 | S2: 157.10 |
| R3: 161.00 | S3: 155.80 |
The pound steadied around $1.34 while investors tracked geopolitical developments. Markets are also weighing the likelihood of further interest rate increases from the Bank of England.
From a technical view, support stands near 1.3460, with resistance around 1.3350.
| R1: 1.3460 | S1: 1.3350 |
| R2: 1.3510 | S2: 1.3280 |
| R3: 1.3600 | S3: 1.3190 |
Silver stayed over $75 per ounce, continuing its weekly climb as lower oil prices cooled inflation worries. A softening dollar provided additional tailwinds while market participants turned their focus toward upcoming diplomatic talks between the US and Iran.
From a technical view, resistance stands near $77.25 while support is located around $73.
| R1: 77.25 | S1: 73.00 |
| R2: 79.50 | S2: 71.50 |
| R3: 82.00 | S3: 69.00 |
Fed and Iran Talks Drive Markets (3–7 August)Global markets entered August with investors reassessing the Federal Reserve’s policy outlook while renewed diplomatic efforts between the United States and Iran triggered sharp moves in oil and precious metals. The dollar recovered to around 100.3 but remained under pressure after posting its worst weekly decline in three months. Meanwhile, Brent crude fell more than 4% after President Donald Trump said peace talks with Iran would resume, easing immediate concerns over the Strait of Hormuz and energy-driven inflation.
Detail Diplomacy Lifts Markets (08.03.2026)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.
Eurozone Inflation Climbs to 2.9%Eurozone inflation edged higher in July, with rising energy prices keeping overall price pressures well above the European Central Bank's target. Annual inflation increased to 2.9%, up from 2.8% in June, in line with market expectations but still significantly above the ECB's 2% goal.
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