Markets Rebound After Strike Delay (03.24.2026)

Markets saw a short-lived recovery after the U.S. delayed planned strikes on Iranian energy infrastructure, easing immediate geopolitical pressure. 

The euro rebounded toward $1.155, while sterling also recovered as the dollar softened slightly. However, underlying risks remain, with the Japanese yen weakening again as rising oil prices continued to pressure Japan’s economy. Precious metals stayed under pressure, with gold retreating toward $4,300 and silver slipping further as persistent Middle East tensions and inflation concerns reinforced expectations for tighter monetary policy. Overall, the rebound reflects temporary relief rather than a shift in the broader risk-off trend.

EUR/USD Recovers to $1.155

The euro rebounded toward $1.155 following President Trump’s announcement of a five day delay in strikes on Iranian energy infrastructure. While the delay offered temporary market relief ahead of a critical Strait of Hormuz deadline, Iranian officials quickly denied that any negotiations were underway. Despite this geopolitical reprieve, the ECB remains under pressure, with markets pricing in several rate hikes to combat persistent inflation and deteriorating growth forecasts.

For EUR/USD, the initial resistance is seen at 1.1640, while the closest support is positioned at 1.1530.

Yen Weakens Past 158.5

The Japanese yen weakened past 158.5 per dollar on Tuesday, reversing earlier gains as rising oil prices added pressure to Japan’s import-dependent economy. The decline came after Iran denied any negotiations. The yen had previously strengthened following a temporary delay in US strikes on Iranian energy sites. Meanwhile, softer domestic inflation eased pressure on the Bank of Japan to change its monetary policy stance.

Technically, resistance stands near 159.20, while support is firm at 158.20.

Gold Retreats Toward $4,300

Gold dropped toward $4,300 per ounce on Tuesday as geopolitical volatility in the Middle East intensified. Despite a brief rally following a five-day pause in U.S. strikes, Iran’s denial of negotiations and continued military exchanges have sustained market anxiety. With the Strait of Hormuz remaining a major inflation flashpoint, expectations for tighter monetary policy are rising, dampening the appeal of non-yielding bullion.

Gold sees support near $4230, while resistance is around $4450.

Sterling Rebounds to $1.34

The British pound rebounded to $1.34 on Tuesday, recovering earlier losses after Donald Trump postponed US strikes on Iran for five days. Markets continue to anticipate multiple Bank of England rate hikes this year, with upcoming UK CPI, retail sales, PMI, and consumer confidence data closely watched amid energy supply risks.

From a technical view, support stands near 1.3350, with resistance around 1.3480.

Silver Slips Below $67

Silver fell below $67 per ounce on Tuesday, pressured by persistent Middle East tensions. A brief rebound followed a temporary delay in U.S. strikes on Iranian energy sites, but uncertainty surrounding the Strait of Hormuz keeps inflation risks high. This reinforces expectations for additional rate hikes, further weighing on silver’s appeal.

From a technical view, resistance stands near $69.00 while support is located around $63.20.