Global markets remained cautious as a new 10% U.S. global tariff came into force, keeping trade uncertainty at the center of investor focus.
The euro stayed below $1.18, while the yen weakened amid softer expectations for Bank of Japan tightening. Gold and silver found support from renewed safe-haven demand linked to tariff risks, while sterling held steady near recent lows as traders assessed the potential impact of higher levies in the months ahead.
| Time | Cur. | Event | Forecast | Previous |
| 07:00 | EUR | German GDP (QoQ) | 0.3% | 0.0% |
| 10:00 | EUR | CPI (YoY) (Jan) | 1.7% | 1.9% |
| 15:30 | USD | Crude Oil Inventories | - | -9.014M |
The euro remained just below $1.18 as a new 10% global tariff, signed by President Trump on Friday, took effect. This executive order followed a Supreme Court ruling that overturned previous duties, creating fresh trade uncertainty and dampening investor appetite for the single currency.
For EUR/USD, the initial resistance is seen at 1.1840, while the closest support is positioned at 1.1750.
| R1: 1.1840 | S1: 1.1750 |
| R2: 1.1890 | S2: 1.1710 |
| R3: 1.1950 | S3: 1.1640 |
The yen hovered around 156 per dollar on Wednesday, following a sharp decline. This weakness came after reports that Prime Minister Sanae Takaichi expressed concerns regarding further interest rate hikes during a recent meeting with Bank of Japan Governor Kazuo Ueda, dampening expectations for immediate policy tightening.
Technically, resistance stands near 156.70, while support is firm at 153.50.
| R1: 156.70 | S1: 153.50 |
| R2: 157.50 | S2: 151.20 |
| R3: 159.60 | S3: 150.50 |
Gold prices climbed to approximately $5,150 per ounce on Wednesday, reclaiming some of the previous session's losses. Safe-haven demand remains high as a new 10% global tariff took effect Tuesday. The Trump administration is now pushing to increase this levy to 15% to rebuild its trade strategy following the Supreme Court's recent ruling against earlier, more extensive duties.
Gold sees support near $5105, while resistance is around $5200.
| R1: 5200 | S1: 5105 |
| R2: 5240 | S2: 5040 |
| R3: 5300 | S3: 4900 |
Sterling remained stable near $1.35, hovering close to last week’s one-month lows as President Trump’s new 10% global tariffs took effect. Although the rate could still rise to 15%, the current lower levy offers slight relief for British businesses amid ongoing trade uncertainty.
From a technical view, support stands near 1.3360, with resistance around 1.3540.
| R1: 1.3540 | S1: 1.3360 |
| R2: 1.3670 | S2: 1.3290 |
| R3: 1.3750 | S3: 1.3080 |
Silver rose above $88 per ounce on Wednesday, rebounding from the prior session’s losses as tariff-related, geopolitical, and wider economic uncertainties supported safe-haven demand. The US started imposing a temporary 10% global tariff on Tuesday, and the White House is reportedly aiming to lift it to 15% after the Supreme Court last week invalidated President Donald Trump’s broad reciprocal tariffs.
From a technical view, resistance stands near $90.50 while support is located around $87.80.
| R1: 90.50 | S1: 87.80 |
| R2: 91.25 | S2: 83.40 |
| R3: 95.00 | S3: 79.00 |
Global markets adopted a cautious tone as renewed uncertainty around US–Iran negotiations supported the US dollar and limited upside across risk assets.
German Producer Prices Stabilize Amid Energy RisksGermany’s producer price index (PPI) delivered a complex set of results in March 2026, signaling a potential end to a year long period of deep deflation while also highlighting fresh inflationary risks.
Detail
Ceasefire and Oil Volatility Drive Markets (20 – 24 April)Global markets navigated a volatile week as shifting signals from the United States–Iran conflict kept sentiment fragile. Early optimism around a potential resolution, including claims of a 10-day ceasefire between Israel and Lebanon and the reopening of the Strait of Hormuz, briefly eased inflation concerns and reduced safe-haven demand. However, conflicting developments, including renewed uncertainty over the blockade and energy supply risks, kept oil prices elevated and prevented a full recovery in risk appetite.
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