The euro rose to 1.1660 on optimism over potential Ukraine-Russia peace talks, while the yen held steady as the Bank of Japan signaled room for further hikes. Gold slipped on easing geopolitical tensions, though trade concerns and Fed cut expectations capped losses.
The pound rebounded near 1.3450, supported by last week’s hawkish BoE rate cut. Silver stayed above $38, poised for a weekly gain amid soft U.S. data and tariff uncertainty.
| Time | Cur. | Event | Forecast | Previous |
| All Day | JPY | Japan - Mountain Day | - | - |
EUR/USD now eyes resistance at 1.1745, while support holds at 1.1590.
| R1: 1.1745 | S1: 1.1590 |
| R2: 1.1795 | S2: 1.1500 |
| R3: 1.1830 | S3: 1.1350 |
The Japanese yen traded close to 147.7 per dollar on Monday, holding in a narrow range for roughly a week as investors assessed the Bank of Japan’s policy stance. Minutes from the BOJ’s July meeting suggested that policymakers still consider room for additional interest rate increases, despite growing uncertainty linked to tariffs.
USD/JPY faces resistance at 148.50, with support at 146.00.
| R1: 148.50 | S1: 146.00 |
| R2: 151.50 | S2: 143.00 |
| R3: 152.40 | S3: 140.00 |
On Monday, gold fell below $3,380 an ounce, weighed down by easing geopolitical tensions that reduced its safe-haven appeal. U.S. President Donald Trump’s announcement of an August 15 meeting with Russian leader Vladimir Putin in Alaska, aimed at resolving the Ukraine conflict and avoiding additional U.S. sanctions, added to the decline. However, ongoing trade concerns and growing expectations for Fed rate cuts this year are expected to limit further losses.
Gold is testing resistance at $3,425, with support at $3,340.
| R1: 3425 | S1: 3340 |
| R2: 3460 | S2: 3270 |
| R3: 3500 | S3: 3230 |
GBP/USD is hovering near the 1.3450 level, rebounding from daily lows as the U.S. dollar’s momentum eases. The British pound continues to find support from the Bank of England’s hawkish rate cut announced on Thursday.
GBP/USD is seeing resistance at 1.3530, with initial support at 1.3340.
| R1: 1.3350 | S1: 1.3340 |
| R2: 1.3590 | S2: 1.3260 |
| R3: 1.3650 | S3: 1.3000 |
Silver held above $38 per ounce on Friday, set for a weekly gain of around 3%, as prospects for U.S. interest rate cuts and uncertainty from new tariffs supported demand for precious metals. Weekly jobless claims came in above forecasts, and last week’s disappointing nonfarm payrolls report led traders to anticipate a Federal Reserve rate cut in September, with another possible in December.
Silver is now testing resistance at $39, with support holding around $36.50.
| R1: 39.00 | S1: 36.50 |
| R2: 40.50 | S2: 35.50 |
| R3: 41.20 | S3: 33.90 |
Bond Market Pushback Takes Center StageMarkets are almost fully pricing in another Federal Reserve rate cut this week, yet the US bond market continues to move in the opposite direction.
Detail
Central Bank Expectations Reset the Tone (8-12 December)Traders adjusted positioning before the Federal Reserve’s December decision and evaluated fresh signals from the ECB, BoE and BOJ.
Detail Futures Stall, 10-Year Yield Pushes Above 4.1% (12.08.2025)US stock futures were flat on Monday ahead of the Fed’s meeting, with markets pricing an 88% chance of a 25 bp cut on Wednesday.
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