Global markets turned defensive as tech-heavy indices weakened and concerns over slowing growth and shifting central bank expectations pressured sentiment.
Major forex pairs extended mixed moves as the stronger US Dollar pressured EUR/USD and the Yen, while GBP/USD stabilized before the delayed NFP release. Gold and Silver held within ranges, with risk sentiment and fading Fed cut expectations shaping overall direction. Key support and resistance levels remain central for traders across all instruments.
| Time | Cur. | Event | Forecast | Previous |
| 13:30 | USD | Average Hourly Earnings (Mom) | 0.3% | 0.3% |
| 13:30 | USD | Initial Jobless Claimless | - | 232K |
| 13:30 | USD | Nonfarm Payrolls (Sep) | 55K | 22K |
| 13:30 | USD | Philadelphia Fed Manucfacturing Index (Nov) | 1.0 | -12.8 |
| 13:30 | USD | Unemployment Rate (Sep) | 4.3% | 4.3% |
| 15:00 | USD | Existing Home Sales (Oct) | 4.08M | 4.06M |
EUR/USD fell for a fifth consecutive session, nearing a two-week low around 1.1500 in Europe as the US Dollar strengthened on reduced expectations for a December Fed rate cut. The US Dollar Index remained near a five-month high around 100.30, while market odds for a December cut dropped to 29.6% from 50.1% earlier in the week.
Technically, 1.1470 is the key support, while resistance is seen at 1.1625.
| R1: 1.1625 | S1: 1.1470 |
| R2: 1.1670 | S2: 1.1395 |
| R3: 1.1750 | S3: 1.1300 |
The Japanese Yen fell to 157.60, its weakest level since mid-February, as the US Dollar continued to gain. Worries over Japan’s fiscal outlook and Prime Minister Takaichi’s new stimulus package pressured the currency, while the Q3 contraction increased expectations that the BoJ may postpone rate hikes. A firmer risk appetite also reduced the Yen’s safe-haven appeal. At the same time, the USD strengthened as odds of a December Fed cut faded, and Japan’s verbal interventions provided limited support ahead of the delayed NFP report.
Technically, resistance stands near 158.95, while support is firm at 155.20.
| R1: 158.95 | S1: 155.20 |
| R2: 160.15 | S2: 153.65 |
| R3: 161.20 | S3: 151.60 |
Gold traded in a narrow range during Thursday’s Asian session as markets waited for the delayed US NFP report before making new moves. A firmer US Dollar, supported by reduced expectations of another Fed rate cut, continued to weigh on the metal. Improved equity sentiment also softened safe-haven demand, even as the prolonged shutdown raised concerns about slowing US momentum. This combination kept traders cautious about extending the week’s rebound from below the $4,000 level.
From a technical view, support is seen near $4025, while resistance is positioned around $4110.
| R1: 4110 | S1: 4025 |
| R2: 4150 | S2: 3990 |
| R3: 4215 | S3: 3950 |
GBP/USD edged higher toward 1.3060 on Thursday, pausing its four-day decline as traders stayed cautious ahead of the delayed US NFP report. UK CPI eased to 3.6 percent year over year in October, in line with expectations and strengthening the case for a potential December BoE rate cut, which remains a downside risk for the Pound. The November 26 government budget is also expected to influence the BoE’s policy outlook.
From a technical view, support stands near 1.3020, with resistance around 1.3190.
| R1: 1.3190 | S1: 1.3020 |
| R2: 1.3260 | S2: 1.2990 |
| R3: 1.3350 | S3: 1.2870 |
Silver dipped below $51.00 in Thursday’s Asian session after briefly testing $51.85, pulling back further from Wednesday’s weekly high. The move reflects a firmer US Dollar and cautious sentiment ahead of the delayed US NFP report. Even so, technical indicators show the downside is not fully established, suggesting sellers should remain careful as key support levels are still intact.
From a technical view, resistance stands near $52.50, while support is located around $49.50.
| R1: 52.50 | S1: 49.50 |
| R2: 54.40 | S2: 48.55 |
| R3: 56.90 | S3: 45.60 |
China’s Uneven Economic ResilienceChina’s economy began the year with a stronger performance than anticipated, primarily fueled by a strong export sector that helped mitigate stagnant domestic consumption. While headline growth suggests a degree of stability, the recovery's internal structure is notably unbalanced. Also, intensifying geopolitical tensions, specifically the energy disruptions tied to the Iran conflict, threaten to dampen the global outlook and undermine China’s economic momentum.
Detail Optimism Supports Markets (04.16.2026)Markets remained supported as optimism around a potential US–Iran agreement kept risk sentiment elevated.
Markets Balance Between Relief and RiskGlobal markets have begun pricing in a more moderate geopolitical outlook, yet the underlying situation remains unsettled. Diplomatic overtures between the United States and Iran have shown a sense of guarded relief following weeks of heightened anxiety regarding energy flows and critical shipping lanes. Interestingly, the failure of disruptions in the Strait of Hormuz to ignite a total energy crisis has challenged traditional market expectations.
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