The U.S. dollar weakened in Monday’s Asian session, fueling gains across major currencies and precious metals. EUR/USD climbed near 1.1720, supported by strong expectations for further Fed easing after August’s inflation data.
The yen firmed to 149 amid U.S. shutdown concerns, while the pound edged up to 1.3415 on dollar softness. In commodities, gold broke above $3,800, hitting fresh records, and silver surged to a 14-year high of $46.64, both buoyed by rate cut bets and safe-haven demand.
| Time | Cur. | Event | Forecast | Previous |
| 07:00 | EUR | Spanish CPI (YoY) (Sep) | 3.1% | 2.7% |
| 14:00 | USD | Pending Home Sales (MoM) (Aug) | 0.2% | -0.4% |
| 17:15 | USD | U.S. President Trump Speaks |
EUR/USD rose for a second session, trading near 1.1720 in Asian hours on Monday as the U.S. Dollar weakened. The move followed August inflation data that strengthened expectations for further Fed easing. Headline PCE rose 2.7% year-on-year, up from 2.6% and in line with forecasts, while core PCE stayed at 2.9%. The Fed cut rates by 25 basis points in September to 4.00%–4.25%. Markets now price an 88% chance of another cut in October and 65% in December, according to CME’s FedWatch Tool.
Technically, 1.1640 is the key support, while resistance is seen at 1.1760 and 1.1775.
| R1: 1.1760 | S1: 1.1640 |
| R2: 1.1775 | S2: 1.1570 |
| R3: 1.1825 | S3: 1.1520 |
The yen strengthened to 149 per dollar on Monday, lifted by U.S. shutdown concerns and a softer greenback. Markets await key U.S. data for Fed signals, while Japan eyes the Tankan survey and other releases. BOJ minutes showed openness to rate hikes, with two recent dissents hinting at possible tightening. The ruling LDP votes on October 4 to replace outgoing Prime Minister Shigeru Ishiba.
Resistance is at 150.20 while support holds at 147.80.
| R1: 150.20 | S1: 147.80 |
| R2: 150.90 | S2: 145.20 |
| R3: 154.50 | S3: 142.30 |
Gold surged past $3,800 in Asian trading Monday, hitting a record high as in-line U.S. inflation data boosted expectations of further Fed rate cuts. Lower yields and persistent geopolitical tensions continue to fuel safe-haven demand. Traders now await remarks from Fed officials, with any hawkish signals likely to lift the dollar and weigh on gold.
From a technical perspective, support is around 3782 and resistance is at 3850.
| R1: 3850 | S1: 3782 |
| R2: 3910 | S2: 3760 |
| R3: 4000 | S3: 3700 |
GBP/USD edged up to 1.3415 in early Asian trade on Monday, supported by a weaker dollar after August inflation data reinforced expectations of more Fed rate cuts. The PCE Price Index rose 2.7% annually and core PCE 2.9%, both in line with forecasts. The Fed cut rates by 25 bps in September, and markets now price an 88% chance of another cut in October and 65% in December, according to CME FedWatch.
Technically, support is at 1.3370, with a break lower exposing 1.3325. Resistance sits at 1.3495 and 1.3525.
| R1: 1.3495 | S1: 1.3370 |
| R2: 1.3525 | S2: 1.3325 |
| R3: 1.3575 | S3: 1.3260 |
Silver (XAG/USD) surged to a 14-year high of $47.10 in Asian trade Monday, supported by expectations of more Fed rate cuts. US August PCE inflation matched forecasts at 2.7%, with core at 2.9%. CME FedWatch shows an 89% chance of an October cut and 66% for December. Lower rates support the appeal of non-yielding assets, lifting silver alongside broader precious metals demand.
From a technical perspective, the resistance is seen at 48.00, while the support is at 45.95.
| R1: 48.00 | S1: 45.95 |
| R2: 49.00 | S2: 45.20 |
| R3: 50.00 | S3: 44.50 |
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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