Traders Await Key Economic Data in Steady Markets (10.28.2025)

The euro held near $1.16 on Tuesday, showing limited movement as markets awaited major data releases. Optimism over progress in U.S.–China trade talks supported sentiment ahead of the Trump–Xi meeting, while the ECB is expected to keep rates unchanged. 

The yen strengthened to 152 amid trade and defense discussions, gold and silver stayed under pressure as risk appetite improved, and the pound rebounded ahead of the Fed’s rate decision. Investors now focus on Eurozone GDP, inflation, and the Fed’s policy outlook.

Euro Steady Near $1.16 Ahead of Key Data

The euro hovered around $1.16 with limited movement. Optimism over progress in US–China trade talks supported sentiment ahead of Thursday’s Trump–Xi meeting. The ECB is expected to keep rates unchanged, while the Fed may opt for a cut following soft employment and inflation data. Investors also await upcoming Eurozone GDP and inflation reports later this week.

From a technical view, the euro faces resistance near 1.1680, with strong support around 1.1600.

Yen Firms to 152 Ahead of Takaichi–Trump Talks

The yen firmed to 152 per dollar after recovering from recent lows. Investors now look to the upcoming Takaichi–Trump meeting centered on trade and defense. Officials noted that a softer yen benefits exports. The Bank of Japan is expected to hold rates steady but could discuss potential hikes as trade risks subside.

Technically, resistance stands near 152.80, while support is firm at 151.50.

Gold Stays Near Two-Week Low

Gold inched up to around $3,990 per ounce on Tuesday but remained near a two-week low, as optimism over US–China trade progress weighed on safe-haven demand. Over the weekend, officials from both countries said they had reached a framework agreement on tariffs and other key issues during talks in Malaysia, paving the way for Presidents Trump and Xi to finalize the deal later this week in South Korea.

From a technical view, key support lies near $3940, while resistance is seen around $4,050.

GBP/USD Rebounds Ahead of Fed Rate Decision

The Federal Reserve is widely expected to deliver another 25 bps rate cut on Wednesday. After months of caution, the Fed initiated a new easing cycle at its previous meeting, and markets now anticipate a second consecutive reduction. Investors will closely watch for signals of a possible third cut in December. Meanwhile, GBP/USD turned bullish for the first time in over a week, though the momentum may prove short-lived.

From a technical view, support stands near 1.3250, with resistance around 1.3410.

Silver Holds Lower on U.S.–China Deal Progress

Silver hovered near $46.80 in Tuesday’s Asian session, extending its third day of losses after falling 3.78% as investors moved to risk assets amid optimism over U.S.–China trade talks. Officials from both countries announced in Malaysia that a framework deal on tariffs had been reached, paving the way for Trump and Xi to finalize it in South Korea this week.

From a technical view, resistance stands near $47.90, while support is located around $45.60.