The US House passed a bill to overturn President Trump’s Canada tariffs, highlighting growing Republican unease with his trade policy ahead of midterms. Despite Trump’s veto threat, the vote exposed party divisions, with some lawmakers warning of higher prices and job risks, reflecting rising political and cost-of-living concerns.
The US dollar regained momentum after stronger employment data pushed back expectations for Federal Reserve rate cuts, weighing on major currencies and precious metals. The euro slipped from recent highs despite the ECB’s relaxed stance on currency strength, while the yen continued to outperform on intervention talk and optimism around Japan’s fiscal outlook. Gold and silver paused their advances as resilient US labor conditions lifted yields, though both metals remain underpinned by central bank demand and lingering geopolitical risks. Sterling also softened as a dovish Bank of England tone combined with renewed dollar strength.
| Time | Cur. | Event | Forecast | Previous |
| GDP (YoY) (Q4) | 1.2% | 1.3% | ||
| GDP (MoM) (Dec) | 0.1% | 0.3% | ||
| GDP (QoQ) (Q4) | 0.2% | 0.1% | ||
| Unemployment (Jan) | 222K | 231K | ||
| Crude Oil Inventories | 4.16M | 4.35M | ||
| 10-Year Note Auction | 4.825% |
The euro dropped to approximately $1.185 on Thursday as a stronger US dollar reacted to strong employment data. Unexpectedly high payroll figures and a lower jobless rate prompted investors to push back Federal Reserve rate cut projections from June to July, signaling trust in US economic strength. Previously, the euro had found some traction after the European Central Bank showed little concern over the currency's recent appreciation and news emerged regarding the early departure of Bank of France Governor François Villeroy de Galhau.
For EUR/USD, the initial resistance is located at 1.1920, while the first support level stands at 1.1840.
| R1: 1.1920 | S1: 1.1840 |
| R2: 1.1970 | S2: 1.1780 |
| R3: 1.2000 | S3: 1.1730 |
The Japanese yen rose beyond 153 per dollar on Thursday, marking its fourth consecutive day of gains. Tokyo’s repeated verbal warnings against currency speculation and growing optimism over Prime Minister Sanae Takaichi’s pro-growth fiscal agenda supported the advance. Despite strong U.S. employment data causing some volatility, the yen has appreciated nearly 3% this week following Takaichi’s election win. Investors increasingly expect higher economic momentum and potential interest rate hikes from the Bank of Japan later this year.
Technically, resistance stands near 153.50, while support is firm at 151.70.
| R1: 153.50 | S1: 151.70 |
| R2: 154.30 | S2: 150.60 |
| R3: 155.60 | S3: 149.50 |
Gold slipped to approximately $5,040 on Thursday, pausing its recent advance as investors rethink the Federal Reserve's easing schedule. Strong U.S. labor data, highlighted by the strongest hiring in a year and a surprise drop in unemployment, demonstrated economic resilience. These factors led markets to delay rate cut expectations until July. Traders are now looking toward Friday's inflation report for further direction. Despite the slight retreat, prices remain above $5,000 due to consistent central bank buying and ongoing geopolitical tensions.
Gold sees support near $5000, while resistance is around $5110.
| R1: 5110 | S1: 5000 |
| R2: 5200 | S2: 4925 |
| R3: 5280 | S3: 4850 |
The British pound edged down toward $1.364 on Thursday as strong U.S. employment data lifted the dollar and delayed expectations for Federal Reserve rate cuts until July. Sterling saw minimal gains from stabilized UK politics after Prime Minister Keir Starmer maintained party loyalty following his chief of staff’s exit. Additionally, while the Bank of England held rates at 3.75%, its dovish tone and forecasts of inflation hitting the 2% target soon weighed on the currency.
From a technical view, support stands near 1.3600, with resistance around 1.3680.
| R1: 1.3680 | S1: 1.3600 |
| R2: 1.3750 | S2: 1.3560 |
| R3: 1.3820 | S3: 1.3500 |
Silver fell over 2% to around $82 per ounce on Thursday, reversing Wednesday's gains after strong U.S. labor data tempered expectations for imminent Federal Reserve rate cuts. January payrolls grew by 130,000 while unemployment unexpectedly dropped to 4.3%, showcasing economic strength and lifting Treasury yields. Markets now anticipate a July start for Fed easing instead of June. Despite this pullback, safe-haven demand and long-term currency concerns continue to provide a floor for the metal.
From a technical view, resistance stands near $84.70 while support is located around $81.50.
| R1: 84.70 | S1: 81.50 |
| R2: 87.50 | S2: 78.10 |
| R3: 90.00 | S3: 75.80 |
Markets traded with a mixed tone as currencies and metals reacted to central bank signals and fresh data. The euro held firm near $1.185, supported by the ECB’s comfort with currency strength and confidence that inflation is on track, alongside expectations of a less dovish policy mix later this year.
UK Workforce Growth StallsRecent figures from the Office for National Statistics show that the UK labor market entered 2026 on a softer footing.
Detail Markets Keep Cautious in Thin Trade (02.17.2026)Global markets opened cautiously in thin trading, with the euro holding near $1.185 after the ECB signaled comfort with its strength, sterling steady around $1.36 ahead of key UK data, and the yen firming toward 153 on BoJ rate-hike speculation.
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