Markets remained cautious as a new 10% U.S. global tariff weighed on risk sentiment. The euro and pound stayed under pressure near recent lows, while the yen rebounded on renewed speculation around Bank of Japan tightening.
In commodities, gold held near four-week highs and silver surged toward $90 as geopolitical tensions and tariff concerns increased safe-haven demand, even as expectations for near-term Federal Reserve rate cuts remained limited.
| Time | Cur. | Event | Forecast | Previous |
| 16:30 | EUR | Initial Jobless Claims | 217K | 206K |
The euro struggled under $1.18 as a new 10% global U.S. tariff took effect, dampening investor confidence. Market attention now shifts to February inflation data from Germany, France, and Spain, which will provide vital signals for the ECB’s next interest rate decisions.
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 climbed back past 156 per dollar, snapping a two-day slide. Governor Kazuo Ueda signaled potential near-term rate hikes, supported by new reflationist board appointments. However, Prime Minister Sanae Takaichi’s recent warnings against rapid tightening continue to cloud the Bank of Japan’s path forward.
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 stayed firm above $5,180 per ounce, hovering near a four-week high. Safe-haven demand intensified as Washington sanctioned over 30 entities linked to Iranian oil and weapons ahead of today's nuclear talks in Geneva. However, upside remains capped by U.S. trade policy shifts and sticky inflation, which have led traders to scale back expectations for near-term Federal Reserve rate cuts.
Gold sees support near $5105, while resistance is around $5200.
| R1: 5200 | S1: 5105 |
| R2: 5240 | S2: 5040 |
| R3: 5300 | S3: 4900 |
Sterling remained around $1.35 as a new 10% global U.S. tariff took effect. While lower than the feared 15% rate, the levy offers little relief for UK firms. Trade groups warn that shifting U.S. policies and global volatility continue to make long-term business planning difficult.
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 surged over 3% to approach $90 per ounce, hitting a one-month high. Safe-haven demand intensified due to escalating geopolitical tensions and new U.S. tariffs. However, the rally was tempered by expectations that the Federal Reserve will maintain a cautious approach to interest rate cuts in the near term.
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 |
Easing oil prices and retreating Treasury yields (around 5.23% ) provided some relief to financial markets as improving US-Iran diplomatic prospects reduced immediate inflation concerns.
Hawkish Federal Reserve meeting minutes reinforced expectations for another rate hike this year, pushing Treasury yields higher and supporting the US dollar.
Oil inventories are nearing depletion, increasing supply risks and supporting prices. Aramco estimates less than 6 billion barrels remain after over 1 billion barrels were drawn this year, while the IEA is preparing a 100-million-barrel release. The US 10-year Treasury yield stabilized near 5.31% on Wednesday, close to 24-year peaks, as markets awaited the Fed's minutes.
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