EUR/USD rose toward 1.1750 on stronger Eurozone retail sales and hopes for a U.S.-EU trade deal to retain a 10% tariff beyond August 1.
The Japanese yen weakened past 146 after Trump confirmed a 25% tariff on Japanese imports, despite Japan’s solid current account surplus. Gold rebounded from $3,297 to near $3,350 on trade war fears, though gains were capped by dollar strength. GBP/USD climbed to 1.3630 as Trump imposed tariffs of 25%–40% on 14 nations, delaying enforcement to August 1.
| Time | Cur. | Event | Forecast | Previous |
| 15:00 | USD | NY Fed 1-Year Consumer Inflation Expectations (Jun) | 3.2% |
EUR/USD trades around 1.1745 in Tuesday’s Asian session, supported by strong Eurozone retail sales for May. The Euro benefits as the EU aims to finalize a preliminary trade deal with the US this week, seeking to maintain a 10% tariff beyond the August 1 deadline while negotiations continue. The proposed agreement would keep the 10% base tariff but exempt sensitive sectors like aviation and alcohol, which helps lift market sentiment toward the Euro.
Eurostat data showed retail sales rose 1.8% year-on-year in May, beating expectations of 1.2% but slowing from April’s 2.7%. Monthly sales fell 0.7%, matching forecasts.
Resistance for the pair is at 1.1830, while support is at 1.1730.
| R1: 1.1830 | S1: 1.1730 |
| R2: 1.1910 | S2: 1.1690 |
| R3: 1.2015 | S3: 1.1630 |
The Japanese yen weakened beyond 146 per dollar on Tuesday, hitting a two-week low after President Trump confirmed a 25% tariff on Japanese imports starting August 1, lower than the earlier 35% threat but still above the standard 10%. Japan’s Prime Minister Ishiba pledged to keep negotiating for a favorable outcome. Although Japan’s May current account surplus came in stronger than expected, disappointing wage growth limited hopes for further Bank of Japan rate hikes, adding pressure on the yen.
Key resistance is at 146.20; major support at 144.85.
| R1: 146.20 | S1: 144.85 |
| R2: 147.00 | S2: 143.55 |
| R3: 148.15 | S3: 142.40 |
Gold (XAU/USD) rebounded from a five-day low of $3,297, climbing toward $3,350 after Trump announced 25% tariffs on Japan and South Korea effective August 1, with 12 more countries receiving similar tariff warnings ranging between 25% and 40%. The rising risk of a global trade war fueled safe-haven demand, though gold’s gains were capped by simultaneous US Dollar strength.
Resistance is at $3,365, while support holds at $3,300.
| R1: 3365 | S1: 3300 |
| R2: 3395 | S2: 3250 |
| R3: 3430 | S3: 3200 |
GBP/USD edged higher to around 1.3630 during Tuesday’s Asian session, posting a modest recovery after two straight days of losses. The British Pound found support as the US Dollar weakened in response to heightened market caution following President Donald Trump’s announcement of new tariff rates targeting 14 countries that have not yet finalized trade agreements with the US.
The Trump administration introduced a 25% tariff on imports from Japan and South Korea, warning of further escalation if these countries retaliate. Other nations affected include Malaysia, Kazakhstan, and Tunisia, each facing a 25% tariff, while South Africa will face a 30% tariff. Tariffs on Laos and Myanmar will rise to 40%, Indonesia faces 32%, Bangladesh 35%, and both Thailand and Cambodia will see tariffs of 36%.
Additionally, Trump signed an executive order delaying the enforcement of these new tariffs until August 1, allowing more time for negotiations, according to Bloomberg.
On social media, Trump issued a firm warning that any country aligning with the anti-American stance of the BRICS bloc would face an extra 10% tariff, stating unequivocally: “There will be no exceptions to this policy.”
Resistance is at 1.3640, while support holds at 1.3500.
| R1: 1.3640 | S1: 1.3500 |
| R2: 1.3700 | S2: 1.3430 |
| R3: 1.3760 | S3: 1.3380 |
Silver remains steady just below $37.00, hovering around $36.80 in Tuesday’s Asian session after a sharp rebound from the $36.15 level seen late Monday. The metal continues to trade in a tight range as conflicting market signals keep traders cautious.
Global trade tensions and geopolitical uncertainties, fueled by the U.S.’s upcoming tariffs on multiple countries and its hardline stance against BRICS-aligned nations, have elevated market risk perception. This has sparked a modest uptick in safe-haven demand, offering limited support to silver.
The strength of the U.S. Dollar and uncertainty surrounding future interest rate decisions are capping silver’s upside potential. Market participants remain focused on incoming economic data and central bank signals for clearer direction.
In the near term, silver is expected to stay volatile and highly reactive to geopolitical and economic headlines.
Resistance is at 37.50, while support holds at 35.40.
| R1: 37.50 | S1: 35.40 |
| R2: 39.00 | S2: 34.85 |
| R3: 41.00 | S3: 33.80 |
Global markets on Friday leaned cautiously constructive as traders positioned for a possible Fed rate cut next week, persistent tightness in precious metals, and rising expectations of a BOJ shift.
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