Markets reacted sharply to renewed trade uncertainty after a US Supreme Court ruling overturned President Trump’s emergency tariff powers.
The decision weakened the dollar and supported major currencies, with the euro rebounding toward $1.18 on strong Eurozone PMI data and the yen recovering toward 154 as trade risks resurfaced. Precious metals outperformed, led by a surge in gold to a three-week high near $5,150 and a sharp rally in silver above $87, both driven by rising safe-haven demand amid escalating tariff friction. Sterling also recovered above $1.35, aided by a softer dollar and improved UK business activity, as investors reassessed global growth and trade dynamics.
| Time | Cur. | Event | Forecast | Previous |
| 13:00 | USD | Fed Waller Speaks | | |
| 15:00 | USD | Factory Orders (MoM) (Dec) | -0.4% | 2.7% |
| 17:30 | EUR | ECB President Lagarde Speaks | | |
The euro climbed back toward $1.18, rebounding from monthly lows as the dollar weakened following a U.S. Supreme Court decision overturning President Trump’s emergency tariffs. Further support came from positive Eurozone PMI data, which showed the region's private sector expanding at its fastest pace since November.
For EUR/USD, the initial resistance is seen at 1.1840, while the closest support is positioned at 1.1770.
| R1: 1.1840 | S1: 1.1770 |
| R2: 1.1890 | S2: 1.1710 |
| R3: 1.1950 | S3: 1.1640 |
The Japanese yen rallied toward 154 per dollar on Monday, reversing previous declines as new trade tensions weighed on the greenback. Following a Supreme Court ruling that blocked his original tariff plan, President Trump announced a substitute 15% worldwide levy, sparking market uncertainty and supporting the yen's recovery.
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 jumped nearly 1% to approximately $5,150 per ounce on Monday, hitting a three-week high as renewed trade tensions fueled safe-haven demand. Over the weekend, President Trump announced plans to raise global tariffs from 10% to 15% following a Supreme Court ruling that blocked his "reciprocal tariffs" strategy. While Trump stated these new duties would take effect immediately, uncertainty remains regarding whether a formal executive order has been finalized.
Gold sees support near $5105, while resistance is around $5200.
| R1: 5200 | S1: 5105 |
| R2: 5240 | S2: 5040 |
| R3: 5300 | S3: 4900 |
The British pound climbed back above $1.35, recovering from a one-month low as the US dollar softened. This reversal followed a US Supreme Court ruling overturning President Trump’s broad emergency tariffs. Market sentiment also found support from upbeat domestic data, with the latest S&P Global UK PMI showing private-sector activity expanded in February at its fastest pace since April 2024.
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 prices jumped 3% to trade above $87 per ounce on Monday, marking a fourth consecutive session of gains. This rally follows renewed global trade friction as President Trump raised the international tariff from 10% to 15% after a Supreme Court setback. In response, Europe’s trade chief signaled a pause on a key U.S. trade pact, and India postponed negotiations for an interim agreement. These escalating tensions have significantly increased demand for silver as a safe-haven asset.
From a technical view, resistance stands near $88.50 while support is located around $85.80.
| R1: 88.50 | S1: 85.80 |
| R2: 89.90 | S2: 82.40 |
| R3: 93.00 | S3: 79.00 |
Global markets remained defensive as stalled U.S.–Iran negotiations and persistent Middle East tensions continued to fuel inflation concerns and strengthen the dollar.
Global markets remained under pressure as persistent inflation concerns and stalled U.S.–Iran diplomacy reinforced expectations for tighter monetary policy.
Detail Yields Rise While Metals Trade Mixed (05.13.2026)Global markets turned cautious as escalating U.S.–Iran tensions and stronger U.S. inflation data reinforced expectations for higher interest rates.
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