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 |
Global markets remained focused on shifting Middle East developments and monetary policy expectations, with reports of progress toward a Strait of Hormuz shipping agreement influencing sentiment.
Detail
Weak Jobs Data Hits Dollar as Hormuz Risks Persist (10 – 14 August)Global markets entered the week as investors reassessed the Federal Reserve's outlook after a surprisingly weak US employment report signaled further deterioration in labor market conditions. The Dollar Index fell toward a two-month low, while gold and silver held onto strong weekly gains as expectations for a September Fed rate hike dropped sharply. At the same time, uncertainty surrounding the Strait of Hormuz continued to influence oil prices and global inflation expectations, with Iran and Oman reporting progress toward a transit agreement but no broader resolution yet reached.
Detail Weak Jobs Data Supports Metals and Currencies (08.10.2026)Global markets opened the week with the dollar under pressure after unexpectedly weak U.S. employment data reduced expectations for a September Federal Reserve rate hike.
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