Investors entered the week cautiously ahead of major interest rate decisions from the Federal Reserve, European Central Bank, and Bank of Japan, with all three expected to leave rates unchanged.
Elevated oil prices and persistent Middle East tensions kept inflation concerns in focus, leaving gold near $4,000 and silver around $54. Meanwhile, the euro recovered toward 1.1220, although French fiscal uncertainty limited gains. Sterling held firm near 1.3360 as markets anticipated a November Bank of England rate hike, while the yen remained near five-week highs around 156.7 per dollar, supported by safe-haven demand and expectations for tighter Japanese monetary policy.
| Time | Cur. | Event | Forecast | Previous |
| All Day | NZD | New Zealand – Labor Day | ||
| 06:00 | EUR | ECB’s Elderson Speaks | ||
| 17:00 | USD | 2-Year Note Auction | 4.787% |
EUR/USD edged up toward 1.1220 during early Asian trading on Monday, clawing back recent losses. Nevertheless, political risks and mounting fiscal debt concerns in France continue to cap broader gains. Market participants are turning their focus to upcoming rate decisions from the European Central Bank and Federal Reserve later this week, alongside Germany's Ifo business sentiment report due today.
The first resistance is positioned at 1.1260 while the support starts from 1.1180.
| R1: 1.1260 | S1: 1.1180 |
| R2: 1.1300 | S2: 1.1120 |
| R3: 1.1350 | S3: 1.1050 |
Gold traded near $4,000 per ounce on Monday, lingering close to its lowest level in more than three months. Investors continue to weigh escalating Middle East friction alongside major central bank policy announcements scheduled for later this week. Clarification regarding potential US actions toward Iran or retaliatory strikes across the region remains uncertain. Elevated energy prices continue to stoke inflation concerns, encouraging expectations of sustained higher interest rates. Non-yielding precious metals remain under downward pressure, while the Federal Reserve, ECB, and BOJ are anticipated to keep interest rates unchanged.
First resistance is seen at $4065, with initial support near $3970.
| R1: 4065 | S1: 3970 |
| R2: 4100 | S2: 3940 |
| R3: 4140 | S3: 3990 |
The Japanese yen traded near 156.7 per dollar on Monday, retaining gains near five-week highs ahead of this week's Bank of Japan policy gathering. The BOJ is widely expected to keep interest rates steady, though elevated September inflation of 2.1% reinforces expectations of a potential December rate increase. Market participants are also monitoring policy decisions from the Federal Reserve, which is similarly projected to hold rates unchanged. Recent global equity volatility across the technology sector has provided additional safe-haven support for the currency.
First resistance is seen at 157.50, with initial support near 155.40.
| R1: 157.50 | S1: 155.40 |
| R2: 159.00 | S2: 153.20 |
| R3: 160.20 | S3: 151.50 |
GBP/USD is trading higher from support around 1.3360, remaining contained below resistance between 1.3320 and 1.3460. A sustained break above this barrier could pave the way toward 1.3530, while key downside support levels sit at 1.3270 and 1.3220. The British pound remains firm as investors price in a 95% likelihood of a Bank of England rate hike on November 5. Major risk events this week feature the Federal Reserve's rate policy announcement on Wednesday, followed by key US GDP and PCE inflation figures on Thursday.
From a technical view, resistance stands near 1.3460, with support around 1.3320.
| R1: 1.3460 | S1: 1.3320 |
| R2: 1.3530 | S2: 1.3270 |
| R3: 1.3650 | S3: 1.3220 |
Silver held around $54 per ounce on Monday, holding near an eleven-month low as investors assessed Middle East geopolitical risks alongside upcoming central bank rate decisions. Escalating regional conflict has pushed energy costs higher, reinforcing inflation anxieties and supporting higher interest rate expectations that continue to pressure non-yielding precious metals. While the Federal Reserve, European Central Bank, and Bank of Japan are broadly anticipated to keep interest rates unchanged this week, persistent price pressures maintain expectations for a possible Fed rate increase in December.
From a technical view, resistance stands near $54.80, while support is located around $53.00.
| R1: 54.80 | S1: 53.00 |
| R2: 56.00 | S2: 51.50 |
| R3: 58.50 | S3: 50.50 |
Wall Street’s Triple Test: Rates, Growth and AIThe Fed’s rate decision, US GDP and inflation data, and Big Tech earnings put economic growth and AI investment returns to the test.
Detail Markets Await Rate Decisions (10.27.2026)Easing oil prices offered some relief to precious metals ahead of major central bank policy decisions, with gold stabilizing near $4,005 and silver holding around $53 after recent declines.
Detail
CB Decisions Loom Amid Geopolitical Risks (26 – 30 October)Financial markets entered the week cautiously as investors prepared for monetary policy decisions from the Federal Reserve, European Central Bank, and Bank of Japan. The Dollar Index eased toward 101.6, while Treasury yields continued to retreat from recent highs. All three central banks are expected to leave rates unchanged this week, although persistent inflation and elevated energy prices have kept expectations for further tightening alive. Attention is also turning to US GDP, PCE inflation, and major technology earnings for fresh signals on economic growth.
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