The euro held steady near 1.1690 in early Asian trading on Monday after last week’s 0.5% gain, supported by a dovish Federal Reserve outlook and softer U.S. data.
The University of Michigan’s Consumer Sentiment Index fell below expectations, while July retail sales slowed, reinforcing market bets on a September Fed rate cut. Traders now turn to preliminary S&P Global PMI figures for further direction.
| Time | Cur. | Event | Forecast | Previous |
| 09:00 | EUR | Balance of Trade | 14.7B | 16.2B |
EUR/USD eased to around 1.1690 in early Monday Asian trading after a 0.5% gain in the previous session. The pair could recover as the US Dollar remains pressured by the Fed’s dovish stance ahead of September. Markets now look to preliminary S&P Global PMI figures due later today.
Recent US data support expectations of a September Fed rate cut. The University of Michigan’s Consumer Sentiment Index fell to 58.6 in August from 61.7 in July, missing forecasts of 62.0. Meanwhile, July retail sales rose 0.5% month-over-month, down from June’s 0.9% but in line with expectations.
For EUR/USD, the firstresistance is seen at 1.1770, while the nearest support stands at 1.1600.
| R1: 1.1770 | S1: 1.1600 |
| R2: 1.1830 | S2: 1.1520 |
| R3: 1.1900 | S3: 1.1350 |
USD/JPY is at a critical level both technically and fundamentally. Japan’s strong growth data and solid corporate earnings support the yen, but the BoJ’s low-rate policy offsets this. The upcoming Jackson Hole Fed meeting will be key for the dollar’s direction.
Technically, the pair is holding above the 200-day moving average (147.28) and horizontal support (147.10). A break below could open 145 and 143 as next support levels. On the upside, the 151–152.40 zone remains strong resistance, and without a breakout, gains are likely capped.
For USD/JPY, the nearest resistance is at 148.00, while the immediate support is at 145.00.
| R1: 148.00 | S1: 145.00 |
| R2: 151.50 | S2: 143.00 |
| R3: 152.40 | S3: 140.00 |
On Monday, gold (XAU/USD) climbed to around $3,352 per ounce after the Trump-Putin talks ended without producing a cease-fire or truce. The outcome was seen as favorable to the Russian President, especially after Trump had said he would be disappointed if no agreement was reached. Markets now look ahead to Trump’s meeting with Ukrainian President Volodymyr Zelenskiy for further geopolitical signals, while Thursday’s Jackson Hole symposium is expected to provide guidance on the Federal Reserve’s policy outlook.
Gold is currently facing resistance around $3,385, with strong support near $3,320
| R1: 3385 | S1: 3320 |
| R2: 3420 | S2: 3275 |
| R3: 3500 | S3: 3230 |
Since early August, GBP/USD has closed lower only twice, gaining over 4 cents from its August 1 low near 1.3140. It now trades around the 38.2% Fibonacci retracement of the July–August drop. The rebound reflects renewed softness in the US Dollar, driven by optimism over trade talks and expectations of further Fed rate cuts. Challenges to Fed independence by President Trump have also weighed on the Greenback’s short-term outlook.
The first resistance is seen at 1.3620, with nearby support beginning at 1.3340.
| R1: 1.3620 | S1: 1.3340 |
| R2: 1.3750 | S2: 1.3260 |
| R3: 1.3850 | S3: 1.3000 |
Silver (XAG/USD) attracted dip-buying near $37.80 in Monday’s Asian session, reclaiming the $38.00 level and posting a fresh intraday high.
Technically, the metal is supported by the 200-period SMA, a key threshold. A decisive break below would likely trigger bearish momentum. If that occurs, XAG/USD could slide into the mid-$37.00 range, eyeing $37.00. Sustained selling may expose the monthly low at $36.20, with risks of a deeper move under $36.00.
For silver, the first resistance level is at 39.50, while the closest support is found at 36.75.
| R1: 39.50 | S1: 36.75 |
| R2: 40.50 | S2: 35.50 |
| R3: 41.20 | S3: 33.90 |
Markets on Thursday leaned toward a dovish global outlook, lifting precious metals and reshaping major currency moves.
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