President Trump imposed new tariffs, including a 10% base rate and higher levies on key trading partners.
The euro climbed to $1.09 but faces downside risks as Eurozone inflation cooled and ECB rate cut bets grew. The Japanese yen surged to a three-week high while gold soared to a record $3,164 with growing expectations for Fed rate cuts.
| Time | Cur. | Event | Forecast | Previous |
| 08:00 | USD | HCOB Eurozone Composite PMI (Mar) | 50.4 | 50.2 |
| 18:30 | GBP | S&P Global Composite PMI (Mar) | 52.0 | 50.5 |
| 12:30 | USD | Initial Jobless Claims | 225K | 224K |
| 13:45 | USD | US S&P Global Services PMI (Mar) | 54.3 | 51.0 |
The euro climbed to $1.09 on Thursday despite President Trump’s announcement of a 20% tariff on EU imports, as the weaker U.S. dollar offered support. The move escalated global trade tensions, raising growth concerns. Meanwhile, Eurozone inflation fell to 2.2% in March, its lowest since November 2024, while core inflation dropped to 2.4%, the weakest since January 2022. With easing price pressures and rising trade risks, markets now expect the ECB to cut rates by 65 basis points this year.
Key resistance is at 1.1000, followed by 1.1050 and 1.1100. Support lies at 1.0850, then 1.0730 and 1.0670.
| R1: 1.1000 | S1: 1.0850 |
| R2: 1.1050 | S2: 1.0730 |
| R3: 1.1000 | S3: 1.0670 |
The Japanese yen strengthened to around 147 per dollar, hitting a three-week high as safe-haven demand rose following Trump’s sweeping reciprocal tariffs. The U.S. hiked tariffs on China to 54%, and imposed significant levies on the EU (20%), Japan (24%), and India (26%), plus a 10% baseline on all imports. BoJ Governor Kazuo Ueda warned of potential global impacts. While more rate hikes are expected in Japan, trade uncertainty and economic risks cloud the outlook.
Key resistance is at 151.70, with further levels at 152.70 and 154.00. Support stands at 147.00, followed by 145.80 and 143.00.
| R1: 151.70 | S1: 147.00 |
| R2: 152.70 | S2: 145.80 |
| R3: 154.00 | S3: 143.00 |
Gold hit a record $3,164 per ounce as investors sought safety after Trump’s tariff rollout: a 10% base rate, plus 34% on China, 20% on the EU, 24% on Japan, and 25% on foreign cars. Trump defended the policy as support for U.S. manufacturing. Gold also gained from expectations of Fed rate cuts, central bank buying, and strong ETF demand, China’s gold ETF added 233,000 ounces. Focus now shifts to Friday’s nonfarm payrolls for clues on Fed policy.
Key resistance is at $3,150, followed by $3,200 and $3,250. Support stands at $3,085, then $3,055 and $3000.
| R1: 3150 | S1: 3085 |
| R2: 3200 | S2: 3055 |
| R3: 3250 | S3: 3000 |
GBP/USD hovered around 1.31, but fell as Trump’s sweeping tariffs rattled markets. The U.S. imposed a 10% base tariff and higher rates on key partners, China (34%), EU (20%), and Japan (24%), plus a 25% auto levy. Meanwhile, U.S. jobs data was mixed: ADP showed 155K job growth, but JOLTS revealed job openings fell to 7.57M. Markets now eye Friday’s nonfarm payrolls for direction on Fed policy.
If GBP/USD breaks above 1.3120, resistance levels are at 1.3150 and 1.3200. Support is at 1.3000, followed by 1.2950 and 1.2900.
| R1: 1.3120 | S1: 1.3000 |
| R2: 1.3150 | S2: 1.2950 |
| R3: 1.3200 | S3: 1.2900 |
Silver fell over 1% to below $33.50, a one-week low, as Trump’s new tariffs sparked broad market concerns. Unlike gold, silver faced selling amid a wider commodity pullback. U.S. data showed a weak March manufacturing print and job openings fell to 7.57M. Traders now await Friday’s labor report for further clues.
If silver breaks above $33.80, resistance levels are at $34.50 and $34.90. Support stands at $32.50, followed by $32.15 and $31.65.
| R1: 33.80 | S1: 32.50 |
| R2: 34.50 | S2: 32.15 |
| R3: 34.90 | S3: 31.65 |
US Job Openings Hold Steady at 7.6 Million in FebruaryHiring, separations, and quits remain stable as the labor market shows resilience.
Detail
US Manufacturing Growth Stalls in March Amid Tariff ConcernsOutput slips, hiring stagnates, and cost pressures mount as policy uncertainty weighs on factories.
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