This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This website is operated by Moneta Markets Ltd, which is not authorised or regulated by the UK Financial Conduct Authority (FCA) and does not offer or promote services to UK residents. Access to this website is restricted in the UK and the content is not intended for distribution to, or use by, any person located in the UK. If you believe you have reached this website in error, please exit the page now
Global markets opened Thursday with a cautious tone as traders brace for the Bank of England’s policy decision, keeping the British Pound in the spotlight. GBP/USD hovers near 1.3600, while EUR/GBP consolidates below 0.8700, reflecting investor hesitation ahead of key central bank guidance. Elsewhere, gold and silver slipped as Fed cut bets waned, and crude oil prices stayed pressured, underscoring broader market uncertainty.
Gold has pulled back from its recent record highs (just above $3,700) as the U.S. Dollar (#USD / TVC:DXY) shows signs of recovery. The Federal Reserve’s dovish rate cut stance and rising geopolitical tensions still lend support to bullion, but USD strength is weighing on upside, limiting further gains ahead of major central bank news.
Geopolitical Risks: Continued escalation in global flashpoints (Middle East, Russia-Ukraine, etc.) boosts demand for safe-haven assets.
US Economic Data: Signs of softening labor market and inflation maintain expectations for rate cuts, but recent USD rebound reflects some concern about upside risk.
FOMC Outcome: The Fed’s dovish guidance (less aggressive cuts, meeting-by-meeting approach) supports gold broadly but also adds uncertainty around how much easing to expect.
Trade Policy: Tariff concerns and trade friction remain background risk factors that favour the safe-haven appeal of gold.
Monetary Policy: Low yields, expectations of rate cuts, and dovish central bank dialogue help sustain gold’s appeal as a non-yielding store of value.
Trend: Near-term pullback / consolidation after a sharp rally. Bullish bias remains intact but upside is capped.
Resistance: ~$3,700-$3,720 (recent high and psychological barrier).
Support: ~$3,645-$3,650; deeper support near ~$3,600 if weakness accelerates.
Forecast: Gold may drift lower in the short run, testing support around $3,650. A stronger pullback would likely be bought. A sustained break above $3,700 opens the possibility of further upside toward $3,750.
Market Sentiment: Cautious-bullish — traders expect gold to hold value in this macro environment, but some profit taking around the highs is natural.
Catalysts: Upcoming Fed policy decision, U.S. CPI & inflation prints, speeches from Fed officials, and any new geopolitical developments.
XAG/USD has slipped below $41.50, signaling a pullback after recent gains. The decline comes as Fed rate-cut expectations are cooling, and the U.S. dollar is gaining a bit of strength, putting pressure on precious metals. Traders seem to be taking profits and awaiting clearer signals from upcoming U.S. data.
Geopolitical Risks: Ongoing global tensions maintain some safe-haven demand, but not enough to offset USD strength and rate expectations.
US Economic Data: Softer inflation or stronger than expected economic prints could reduce the odds of deep Fed cuts.
Trade Policy: No major trade surprises at the moment; risk of supply chain cost pressures is moderate.
Trend: Bearish to neutral as silver breaks support.
Forecast: Silver may test the $40.80 level below, with further downside if USD strength persists. A close back above $41.50 would be needed to restore bullish potential.
Market Sentiment: Cautious, as traders are wary of overexposure ahead of central bank decisions.
Catalysts: U.S. CPI inflation prints, Fed commentary, revisions in U.S. economic data, and USD strength will be key triggers.
WTI is trading with a bearish bias as the European session begins, pressured by concerns of waning demand and lingering oversupply in global oil markets. The U.S. dollar’s recent strength amid Fed-rate expectations adds further headwinds, limiting upside potential.
Geopolitical Risks: Tensions continue in oil-producing regions, but so far more noise than fresh supply disruptions.
US Economic Data: Softer demand signals and weak economic indicators in major consuming economies dampen oil outlook.
FOMC Outcome: Anticipation of further rate cuts could soften demand, particularly if global economic fears worsen.
Trend: Bearish short-term momentum.
Resistance: ~$63.50, then ~$64.50.
Support: ~$61.80, followed by ~$60.50.
Market Sentiment: Cautious to bearish — traders are avoiding large long positions given risk of further downside.
Catalysts: U.S. inventory reports, OPEC+ announcements, Fed decision, global demand updates.
EUR/GBP is trading just under 0.8700, displaying limited movement as market participants await the BoE’s upcoming rate decision. The cross has been stuck in a tight range, with neither the euro nor the pound showing strong momentum—reflecting uncertainty over future monetary policy paths.
Geopolitical Risks: Broader risk sentiment remains fragile, with no major positive or negative developments to tilt the pair.
US Economic Data: Indirect impact via global FX flows; USD strength affects both EUR and GBP, but more pronounced on GBP crosses.
FOMC Outcome: Fed policy outcomes continue to feed into global rate expectations, influencing relative appeal of both currencies.
Trend: Neutral-sideways range so far.
Resistance: 0.8700, then ~0.8725.
Support: ~0.8665, followed by ~0.8635.
Forecast: EUR/GBP is likely to stay within this band until the BoE decision—expect modest gains if GBP underperforms or if BoE signals dovish leanings; downside is limited unless the pound gets badly hit.
Market Sentiment: Muted/balanced—traders are in wait-and-see mode ahead of central bank news.
Catalysts: BoE rate decision and central bank speeches will be the main drivers; any UK inflation or wage surprises can also trigger moves.
GBP/USD is trading near 1.3600, edging lower as markets await the Bank of England’s upcoming rate decision. The pair is feeling pressure from renewed U.S. dollar strength, and mixed UK economic signals, including inflation holding steady, suggest the BoE may tread carefully.
Geopolitical Risks: Global uncertainty and risk-off sentiment are benefiting the USD, which puts downside pressure on GBP/USD.
US Economic Data: Strong U.S. dollar flows from recent data and risk sentiment fuel demand for safe-haven assets.
FOMC Outcome: Market expects the Fed to remain somewhat dovish, but dollar strength remains a factor.
Trade Policy: No major UK or US trade surprises, but broad external demand influences sentiment.
Trend: Mild bearish bias below resistance.
Resistance: 1.3650, then 1.3700.
Support: 1.3550, followed by 1.3500.
Forecast: GBP/USD may test lower support around 1.3550 if BoE signals caution or dovish lean. A hawkish surprise could push back toward resistance around 1.3650.
Market Sentiment: Cautious / mixed — traders wary of entering large positions before BoE clarity.
Catalysts: Bank of England rate decision, inflation and wage data from UK, USD momentum swings, and Fed guidance.
Overall, sentiment is firmly anchored around the upcoming BoE decision, with GBP pairs set to dictate market direction. While commodities face headwinds from shifting Fed expectations and oil oversupply concerns, currency traders remain laser-focused on how the BoE balances sticky inflation with growth risks. The Pound is likely to lead today’s volatility.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Global markets opened cautiously on Wednesday as traders await the Federal Reserve’s rate decision later in the day. Currencies held steady, with the euro and New Zealand dollar easing back while the Australian dollar remained subdued. Oil prices struggled under bearish pressure at the European open, while UK inflation data showed CPI holding at 3.8% in August, slightly softer than expected. The overall tone remains cautious, with traders positioning ahead of pivotal central bank announcements.
EUR/USD is trading near 1.1850, slipping from recent highs as traders turn cautious ahead of the Federal Reserve’s rate decision and ECB President Lagarde’s speech. The pair reflects a consolidative tone, with the U.S. dollar finding modest support on safe-haven demand while euro bulls remain hesitant.
Geopolitical Risks: Limited direct impact today, though global growth concerns and energy market volatility keep traders defensive.
US Economic Data: Focus remains on U.S. CPI trends and Fed commentary, which could dictate near-term USD momentum.
FOMC Outcome: Markets expect a dovish Fed stance, but uncertainty around the size of rate cuts is weighing on volatility.
Trade Policy: No new developments, though global tariff tensions continue to provide background risk sentiment.
Monetary Policy: Diverging Fed-ECB policy outlooks keep traders on edge; Lagarde’s remarks later today could hint at ECB’s pace of normalization.
Trend: Neutral-to-bearish consolidation.
Resistance: 1.1900, followed by 1.1960.
Support: 1.1820, then 1.1780.
Forecast: EUR/USD may remain range-bound, with downside risks prevailing if the Fed strikes a less dovish tone than expected.
Market Sentiment: Cautious, with traders hesitant to commit ahead of dual central bank signals.
Catalysts: Lagarde’s speech and the Fed decision will be the primary market movers; unexpected hawkishness from either side could spark volatility.
NZD/USD trades below the 0.6000 handle, retreating from its one-month high as the U.S. dollar firms up ahead of the Federal Reserve’s policy decision. The kiwi faces selling pressure as risk sentiment turns cautious, with traders reluctant to extend bullish positions without clarity from the Fed.
Geopolitical Risks: Limited direct influence, though concerns over global growth and commodity demand keep pressure on risk currencies like the NZD.
US Economic Data: Focus on Fed communication, with strong USD demand ahead of the policy outcome weighing on the kiwi.
Trade Policy: New Zealand’s external trade links remain steady, though weak global demand for commodities continues to pose risks.
Trend: Weakening after rejection near 0.6000.
Forecast: NZD/USD may remain under pressure ahead of the Fed meeting, with risks skewed to the downside unless risk appetite improves.
Market Sentiment: Bearish bias as investors prefer the USD ahead of the FOMC.
Catalysts: The Fed’s rate decision will be decisive for near-term direction; a dovish surprise could revive kiwi strength, while a cautious Fed risks deeper downside.
WTI crude oil prices opened bearish in Europe, trading under pressure as concerns over supply-demand imbalances and cautious sentiment ahead of the Fed weigh on energy markets. Despite recent volatility, oil struggles to sustain upside momentum, signaling investor uncertainty.
Geopolitical Risks: Persistent tensions in key oil-producing regions support some price stability, but no new escalation keeps gains capped.
US Economic Data: Weaker growth expectations and a firm USD ahead of the Fed add to downside risks for oil demand.
FOMC Outcome: A cautious or hawkish Fed could strengthen the USD, making oil more expensive for foreign buyers and limiting demand.
Trend: Bearish bias in the short term.
Resistance: $63.00, followed by $64.50.
Support: $61.50, then $60.80.
Market Sentiment: Bearish as traders reduce risk exposure ahead of central bank events.
Catalysts: Fed decision, US inventory data, and geopolitical updates will be key in shaping near-term price direction.
UK CPI inflation for August held at 3.8% YoY, slightly below the 3.9% forecast, but still well above the Bank of England’s (BoE) 2% target. The data underscores sticky price pressures, keeping hawkish voices within the BoE in focus.
Inflation Stickiness: Despite cooling from peak levels, inflation remains elevated, supporting the case for a longer restrictive policy stance.
BoE Policy Outlook: The print may temper calls for additional hikes but suggests rate cuts are unlikely in the near term.
GBP/USD Reaction: The Pound held relatively steady as markets weigh softer-than-expected inflation against the Fed’s upcoming decision.
Trend: Sideways with slight bullish bias.
Resistance: 1.3600, then 1.3680.
Support: 1.3500, followed by 1.3420.
Forecast: GBP/USD may stay supported above 1.3550 in the near term, with upside capped unless BoE signals a stronger hawkish tilt.
Market Sentiment: Neutral to slightly bullish for GBP as traders position for the Fed’s decision.
Catalysts: BoE commentary, Fed policy outcome, and UK wage/inflation reports will shape the next move in GBP/USD.
The Australian Dollar (AUD/USD) remains subdued as the US Dollar holds firm ahead of the Federal Reserve’s policy decision. Despite market bets on rate cuts later this year, AUD struggles to gain traction due to global uncertainty and weak risk appetite.
Geopolitical Risks: Limited direct impact, though global risk aversion weighs on commodity currencies like AUD.
US Economic Data: Recent data has supported USD strength, keeping AUD/USD capped.
FOMC Outcome: The Fed’s rate decision and guidance remain the central focus, with risks of a less-dovish stance pressuring AUD.
Trade Policy: Sluggish Chinese growth and muted trade activity undermine AUD demand.
Trend: Consolidation with a bearish tilt.
Resistance: 0.6050, followed by 0.6100.
Support: 0.5950, then 0.5900.
Forecast: AUD/USD is likely to stay range-bound, with downside risks if the Fed strikes a firmer tone.
Market Sentiment: Neutral to bearish, as traders favor the USD over risk currencies.
Catalysts: Fed policy announcement, US Dollar trajectory, Chinese economic updates, and RBA commentary.
As the session unfolds, investor focus will remain squarely on the Fed’s policy decision and its guidance on future rate cuts. UK inflation figures and speeches from ECB officials add to the busy calendar, likely fueling volatility in the FX space. Meanwhile, pressure on crude oil underscores the fragility of commodity markets in the face of global growth concerns. With key events on deck, traders should brace for sharper moves across currencies and commodities in the coming hours.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Global markets kicked off Tuesday with heightened volatility as investors position themselves ahead of key central bank decisions. Gold (XAU/USD) hovers near record highs, supported by persistent Fed rate cut bets weighing on the US Dollar (DXY). Meanwhile, the UK labor report is in focus for the British Pound (GBP/USD), while expectations of a BoJ rate hike boost the Japanese Yen (USD/JPY). The Australian Dollar (AUD/USD) trades weaker despite a softer dollar backdrop, and the Canadian Dollar (USD/CAD) gains ground, supported by rising oil prices.
Gold (XAU/USD) is trading near record highs around $3,660, supported by growing Fed rate cut bets and safe-haven demand. The weaker US Dollar Index (DXY) continues to underpin the metal’s strength, while investors remain focused on this week’s Fed outlook.
Geopolitical Risks: Ongoing geopolitical tensions and trade frictions add to gold’s safe-haven appeal.
US Economic Data: Softer inflation and labor data reinforce expectations for Fed easing.
FOMC Outcome: Markets price in a potential 50 bps cut, which could further weaken the dollar and support bullion.
Trade Policy: Persistent tariff uncertainties maintain underlying demand for safe assets.
Monetary Policy: Divergence between Fed easing and cautious global central banks strengthens the bullish gold narrative.
Trend: Strong bullish trend, supported by consecutive higher highs.
Resistance: $3,675, followed by $3,700 psychological level.
Support: $3,635, then $3,600 key base.
Forecast: Gold likely to remain elevated with potential to test fresh all-time highs if Fed signals aggressive easing.
Market Sentiment: Strongly bullish as investors hedge against dollar weakness and inflation concerns.
Catalysts: Fed meeting outcome, US CPI and jobs data, geopolitical headlines.
The British Pound (GBP/USD) is holding steady near 1.3550 as traders await the upcoming UK Jobs Report. The pair has shown resilience despite dollar weakness tied to Fed cut bets, with market participants focused on whether UK labor data can shift the Bank of England’s policy stance.
Geopolitical Risks: Brexit-related trade frictions remain in the background but less impactful short term.
US Economic Data: Softer US inflation and labor data keep dollar subdued.
Trade Policy: Limited near-term drivers, though global risk sentiment influences GBP flows.
Trend: Neutral-to-bullish consolidation above 1.3500.
Forecast: GBP/USD likely to trade in a tight range ahead of the jobs report, with upside potential if labor data beats expectations.
Market Sentiment: Cautiously bullish, supported by dollar weakness but capped by data uncertainty.
Catalysts: UK Jobs Report, Fed rate decision, US CPI revisions.
The Japanese Yen (USD/JPY) is gaining ground as markets price in a potential Bank of Japan rate hike, while the US Dollar remains pressured by expectations of a Fed rate cut. The pair is consolidating below recent highs, with traders awaiting key central bank decisions this week.
Geopolitical Risks: Regional tensions keep safe-haven demand for the Yen intact.
US Economic Data: Weakening labor and inflation data reinforce Fed cut bets, weighing on USD.
FOMC Outcome: A dovish Fed would further pressure USD/JPY lower.
Trend: Bearish bias as JPY strengthens.
Resistance: 147.20, then 148.00.
Support: 145.80, followed by 145.20.
Market Sentiment: Bullish for JPY, bearish for USD.
Catalysts: BoJ policy statements, Fed meeting, US CPI revisions.
The Australian Dollar (AUD/USD) is under pressure, slipping despite a weaker US Dollar and dovish Fed outlook. Traders are cautious as China’s economic slowdown weighs on demand, while RBA’s recent stance shows little appetite for further tightening.
Geopolitical Risks: Concerns over China’s economic trajectory remain a headwind for AUD.
US Economic Data: Weaker US data supports Fed cut bets, but USD still finds safe-haven demand.
FOMC Outcome: A dovish Fed could cap USD gains, but AUD sentiment remains fragile.
Trend: Neutral-to-bearish.
Resistance: 0.6480, then 0.6520.
Support: 0.6400, followed by 0.6360
Forecast: AUD/USD likely to remain range-bound, with downside bias if China data continues to disappoint.
Market Sentiment: Bearish tilt amid weak China outlook.
Catalysts: US Fed meeting, China’s trade/inflation data, RBA commentary.
The US Dollar against the Canadian Dollar (USD/CAD) remains subdued near 1.3750, pressured by rising Oil prices and a softer US Dollar driven by Fed rate cut bets. Stronger crude demand continues to underpin CAD, while traders await fresh cues from upcoming US economic data.
Geopolitical Risks: Oil supply outlook remains sensitive to OPEC+ decisions and Middle East tensions, favoring CAD.
US Economic Data: Softer US releases reinforce Fed cut bets, weighing on USD.
FOMC Outcome: A dovish stance could accelerate USD downside, boosting CAD.
Trade Policy: Ongoing US-Canada trade uncertainties could reintroduce volatility.
Trend: Bearish bias below 1.3800.
Resistance: 1.3800, then 1.3850.
Support: 1.3720, followed by 1.3680.
Forecast: USD/CAD likely to stay pressured, with potential to retest 1.3700 if oil strength persists.
Market Sentiment: Neutral-to-bearish for USD/CAD.
Catalysts: Michigan Consumer Sentiment Index, FOMC outlook, oil inventory data.
Markets remain in a cautious but active trading mode, with central bank policy divergence and upcoming data releases shaping sentiment. Traders are closely watching the Fed’s policy outlook, the UK jobs data, and BoJ signals for near-term catalysts. With gold extending its bullish momentum and currencies showing mixed reactions, volatility is set to persist across majors this week.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Global markets opened the week on a cautious note as investors positioned ahead of the Federal Reserve’s key policy decision. Precious metals like Silver (XAG/USD) extended their rally on growing rate cut expectations, while major currencies such as the EUR/USD and GBP/USD held steady above key levels. Meanwhile, oil prices (WTI) edged higher amid geopolitical tensions, though gains were capped by oversupply fears. The Australian Dollar also found support as traders scaled back bets on further Reserve Bank of Australia (RBA) cuts.
Silver (XAG/USD) extended its rally above $42.00 as investors leaned into safe-haven assets while ramping up bets on aggressive Fed easing. The metal’s resilience reflects both strong demand for hedging against policy uncertainty and broader weakness in the U.S. dollar.
Geopolitical Risks: Persistent global tensions have underpinned safe-haven flows into precious metals.
US Economic Data: Sticky inflation and weak labor data continue to cloud the Fed’s policy outlook.
FOMC Outcome: Expectations of a potential jumbo rate cut this week remain the central catalyst.
Trade Policy: Ongoing tariff concerns add to safe-haven demand.
Monetary Policy: Fed’s dovish tilt amplifies upside momentum in silver.
Trend: Strong bullish momentum above $42.00.
Resistance: $42.50, followed by $43.20.
Support: $41.50, then $40.80.
Forecast: Silver is likely to stay bid while Fed cut expectations dominate, with scope to retest $43.00 if dovish sentiment persists.
Market Sentiment: Firmly bullish on safe-haven demand and Fed-driven tailwinds.
Catalysts: Fed policy decision, U.S. CPI revisions, and geopolitical headlines.
The euro-dollar pair (EUR/USD) is consolidating just above 1.1700, with traders staying cautious ahead of the Federal Reserve’s key policy decision later this week. While a dovish Fed is broadly anticipated, the pair’s sideways movement reflects balanced forces between euro support from a hawkish ECB and dollar resilience amid risk-off flows.
Geopolitical Risks: Tensions across Europe and ongoing trade uncertainties keep volatility elevated.
US Economic Data: Softer labor data and mixed inflation readings reinforce expectations of Fed easing.
Trade Policy: Tariff concerns continue to weigh on global sentiment, indirectly impacting EUR/USD flows.
Trend: Consolidative, neutral bias near key support.
Forecast: EUR/USD likely to remain rangebound until the Fed meeting, with potential breakout depending on the size of the rate cut.
Market Sentiment: Cautious, with traders hesitant to take big positions ahead of the Fed.
Catalysts: Fed policy decision, U.S. inflation revisions, ECB commentary.
West Texas Intermediate (WTI) crude oil is trading between $62.65 and $62.70, gaining modestly on renewed geopolitical tensions that have injected support into energy markets. However, lingering concerns over weak demand and oversupply continue to limit the upside, keeping price action contained within a narrow range.
Geopolitical Risks: Heightened tensions in the Middle East and Asia have lifted safe-haven demand for crude.
US Economic Data: Mixed U.S. growth signals point to softer demand outlook, weighing on oil’s bullish momentum.
FOMC Outcome: Anticipated Fed rate cuts could support demand recovery, indirectly aiding oil prices.
Trend: Sideways with mild bullish tilt.
Resistance: $63.20, followed by $64.00.
Support: $62.00, then $61.50.
Market Sentiment: Cautious optimism, with traders eyeing geopolitical headlines.
Catalysts: U.S. crude inventory data, OPEC+ production updates, Fed’s interest rate decision.
The British pound is holding steady above 1.3550 against the U.S. dollar (#GBPUSD), supported by broad weakness in the greenback as markets brace for a potential Fed rate cut later this week. Despite the pair’s resilience, cautious trading prevails ahead of key U.S. and U.K. data, leaving GBP/USD in consolidation mode.
Geopolitical Risks: Ongoing uncertainty around trade policy and UK-EU relations adds a layer of caution.
US Economic Data: Softer U.S. labor and inflation data has revived expectations for Fed easing, weakening the dollar.
FOMC Outcome: The looming Fed decision remains the biggest short-term catalyst, with a rate cut seen as increasingly likely.
Trend: Mildly bullish while above 1.3550.
Resistance: 1.3600, followed by 1.3675.
Support: 1.3520, then 1.3470.
Forecast: GBP/USD likely to remain range-bound between 1.3520 and 1.3675 until clarity from the Fed.
Market Sentiment: Cautiously bullish, with traders positioning for a dovish Fed.
Catalysts: FOMC rate decision, UK retail sales, and U.S. CPI revisions.
The Australian dollar (#AUDUSD) is holding firm as markets scale back expectations of further rate cuts from the Reserve Bank of Australia. Despite softer Chinese economic data dampening risk sentiment, the Aussie found support from resilient domestic conditions and a weaker U.S. dollar ahead of the Fed’s policy decision.
Geopolitical Risks: Limited impact, though broader market risk sentiment remains fragile.
US Economic Data: Focus on upcoming U.S. releases that may sway Fed expectations and influence USD.
FOMC Outcome: Anticipation of Fed easing continues to cap U.S. Dollar strength.
Trade Policy: Australia’s reliance on Chinese demand means weaker Chinese data still poses downside risks.
Trend: Stabilizing with a mild bullish bias.
Resistance: 0.6520, followed by 0.6575.
Support: 0.6450, then 0.6400.
Forecast: #AUDUSD likely to consolidate between 0.6450 and 0.6575, with momentum favoring the upside if Fed delivers a dovish outcome.
Market Sentiment: Mildly bullish, underpinned by Fed expectations and reduced RBA cut risks.
Catalysts: Fed policy decision, RBA meeting minutes, and China’s economic data trajectory.
Overall, market sentiment remains firmly anchored to the Fed’s policy outlook, with traders weighing the likelihood of a larger rate cut and its ripple effects across currencies, commodities, and energy markets. Until clarity emerges from the Fed, choppy trading and cautious positioning are expected to dominate global markets.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Global markets started Friday under renewed pressure as oil prices extended their slide, with WTI (CL) falling below $62.00 on concerns of weaker demand and oversupply. The U.S. Dollar regained ground, dragging higher against the NZD/USD (NZDUSD) and AUD/USD (AUDUSD), while the USD/CAD (USDCAD) consolidated near 1.3850 ahead of key U.S. consumer sentiment data. Meanwhile, diplomatic stability was reinforced after the U.S. and Japan reaffirmed their agreement not to manipulate foreign exchange rates, a move seen as supportive for broader market confidence.
WTI crude oil slipped below $62.00, extending its bearish momentum as demand concerns and persistent oversupply weigh heavily on energy markets. Softer global growth signals, alongside rising U.S. stockpiles, have further pressured crude, with traders cautious ahead of fresh U.S. consumer sentiment data and OPEC+ commentary.
Geopolitical Risks: Limited escalation in geopolitical tensions has left crude trading more in line with demand and supply fundamentals.
US Economic Data: Weak economic indicators have reinforced recession fears, weighing on demand outlook.
FOMC Outcome: Larger Fed rate cut bets may indirectly support crude by weakening the USD, but demand fears currently dominate.
Trade Policy: U.S.-Japan reaffirmation on FX stability reduces volatility spillovers, but limited direct impact on crude.
Monetary Policy: Global easing expectations may cushion downside risks, yet fundamentals remain bearish in the near term.
Trend: Bearish momentum persists below key levels.
Resistance: $63.20 – Initial upside barrier.
Support: $61.50 – Critical near-term floor; break could expose $60.00.
Forecast: WTI likely to remain pressured unless demand sentiment improves, with risks skewed to further downside.
Market Sentiment: Cautious to bearish, as traders weigh supply overhang against softer demand prospects.
Catalysts: U.S. Michigan Sentiment data, OPEC+ commentary, and upcoming weekly EIA inventories.
The US and Japan reaffirmed their agreement not to manipulate FX rates, providing reassurance to markets that currency stability remains a shared priority. While this limits the scope for direct intervention, the pair continues to be influenced by interest rate differentials and evolving Fed expectations. USD/JPY holds steady as traders await further clarity from U.S. economic data.
Geopolitical Risks: Geopolitical calm keeps focus on policy divergence rather than risk aversion flows.
US Economic Data: Michigan Consumer Sentiment and CPI implications remain pivotal for USD direction.
Trade Policy: The reaffirmed U.S.–Japan pact reduces FX intervention risks, supporting credibility in exchange rate stability.
Trend: Neutral to slightly bullish bias for USD/JPY.
Forecast: USD/JPY likely to remain range-bound near current levels, with breakout potential tied to U.S. sentiment data.
Market Sentiment: Cautious, with reduced fears of FX manipulation but uncertainty around Fed policy path.
Catalysts: U.S. Michigan Sentiment Index, Fed rate cut expectations, BoJ communications.
NZD/USD is trading below 0.5900, pressured by renewed U.S. Dollar demand amid safe-haven flows and firm Treasury yields. The Kiwi faces headwinds from global growth concerns and subdued risk appetite, while softer domestic data weighs on sentiment. Traders remain cautious ahead of the U.S. Michigan Consumer Sentiment Index and inflation readings that could shift Fed cut expectations.
Geopolitical Risks: Weak global demand and ongoing China slowdown concerns undermine NZD’s outlook.
US Economic Data: Stronger-than-expected labor data and sentiment reinforce USD resilience.
FOMC Outcome: Markets price in larger Fed cuts, but timing uncertainty supports USD in the near term.
Trend: Bearish bias below 0.5900.
Resistance: 0.5950 → 0.6000.
Support: 0.5870 → 0.5820.
Market Sentiment: Bearish — investors favor USD strength over commodity currencies.
Catalysts: U.S. Michigan Consumer Sentiment, CPI/PPI data, Fed commentary, Chinese growth updates.
USD/CAD is consolidating around 1.3850 as markets await the U.S. Michigan Consumer Sentiment Index. The pair remains supported by broad U.S. Dollar strength, while lower oil prices weigh on the Canadian Dollar. Traders are cautious, as the outcome of U.S. economic data could tilt Fed expectations and drive fresh volatility.
Geopolitical Risks: Trade deal uncertainty and oil market oversupply keep CAD vulnerable.
US Economic Data: Upcoming sentiment index and inflation data may guide Fed cut expectations.
FOMC Outcome: Speculation of deeper Fed cuts tempers USD upside but hasn’t shifted momentum yet.
Trend: Consolidation with bullish bias above 1.3800.
Resistance: 1.3880 → 1.3920.
Support: 1.3810 → 1.3760.
Forecast: Bias remains mildly bullish; a break above 1.3880 could extend gains toward 1.3920, while downside risk emerges only below 1.3810.
Market Sentiment: Neutral to bullish — investors favor USD as a safer play versus CAD.
Catalysts: U.S. Michigan Sentiment, oil price direction, Fed commentary, and Canadian inflation updates.
AUD/USD is trading near 0.6400, losing earlier gains as the U.S. Dollar recoups strength despite heightened expectations of a larger Fed rate cut. Stronger USD flows are overshadowing upbeat domestic inflation expectations, leaving the Aussie struggling to sustain momentum.
Geopolitical Risks: China’s slowing growth and trade tensions continue to weigh on AUD.
US Economic Data: CPI data and consumer sentiment reports remain decisive for Fed outlook.
FOMC Outcome: Market still anticipates a sizable cut, but USD strength suggests safe-haven preference.
Trade Policy: China’s commodity demand outlook dampens Australian export prospects.
Trend: Weakening after rejection above 0.6450.
Resistance: 0.6450 → 0.6490.
Support: 0.6370 → 0.6320.
Forecast: Mildly bearish; risks skew lower if USD momentum persists, though holding above 0.6370 would keep a neutral bias.
Market Sentiment: Bearish tilt — traders prefer USD amid global risk caution.
Catalysts: U.S. CPI, Fed policy expectations, China’s demand outlook, and RBA commentary.
Traders now shift focus to upcoming U.S. Michigan Consumer Sentiment Index figures for fresh cues on household outlook and inflation expectations, alongside developments in energy markets as oversupply fears weigh on oil. With Fed policy expectations still leaning toward larger rate cuts, market sentiment remains fragile, leaving currencies and commodities exposed to sharp swings.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Global markets turned cautious on Wednesday as investors await the much-anticipated US Consumer Price Index (CPI) release, a key driver for Federal Reserve policy expectations. The dollar remained rangebound, gold extended its advance on safe-haven flows, and major currencies like GBP and AUD traded with a defensive tone. With tariff pressures adding to inflation risks, traders are bracing for heightened volatility across asset classes.
Markets are gearing up for the U.S. Consumer Price Index (CPI) report due out at 12:30 GMT, with expectations that inflation will pick up in August amid growing tariff costs. Headline CPI is forecast to rise 2.9% year-over-year, up from 2.7% in July, while core CPI—excluding food and energy—is seen holding near 3.1% YoY, matching its prior reading. Month-over-month growth is expected around 0.3% for both headline and core. Tariffs on imported goods are increasingly feeding into consumer prices, while services inflation remains sticky due to shelter and wage pressures.
Geopolitical Risks: Import tariff pressures, especially from recent U.S. policy, are transmitting into goods inflation.
US Economic Data: Weak revisions to producer price inflation and soft labor market prints heighten sensitivity to the CPI surprise.
FOMC Outcome: Markets widely expect a 25 bps Fed rate cut in September, but sticky inflation could push for larger cuts or delay easing.
Trade Policy: Gradual pass-through of tariffs into consumer prices is expected to boost inflation readings.
Monetary Policy: With inflation remaining above target, the Fed’s narrative of dovishness must contend with risk of inflation overshoot.
Trend: USD remains under pressure ahead of CPI; sharp CPI surprise could flip sentiment.
Resistance: DXY ~ 98.50; USD pairs may rebound only if inflation is tame.
Support: DXY ~ 97.20–97.00 range likely, with USD sensitive to underwhelming inflation.
Forecast: If inflation surprises to the high side, USD strength may return; below-forecast prints could further weaken dollar and support risk-assets and precious metals.
Market Sentiment: Cautious, leaning toward expectation of sticky inflation justifying Fed restraint on rate cuts.
Catalysts: The CPI release itself, Fed-official commentary, yield curve movements, and tariff policy developments will dictate direction.
Gold (XAU/USD) is extending gains toward the $3,650 mark, supported by softer U.S. yields and lingering Fed rate cut expectations. The upcoming US CPI release remains the key catalyst, with traders positioning for either a breakout higher if inflation undershoots, or a pullback if inflation proves sticky.
Fed Policy Bets: Softer CPI would reinforce aggressive rate cut expectations, lifting gold.
Bond Yields: 10-year Treasury yields hovering lower keep the metal supported.
Dollar Weakness: A subdued DXY (TVC:DXY) provides added tailwinds.
Trend: Bullish momentum intact, but CPI poses risk of reversal.
Forecast: Gold likely consolidates near $3,650 ahead of CPI. A cooler print could trigger a breakout above $3,670, while sticky inflation risks a dip back toward $3,600.
Market Sentiment: Tilted bullish — traders are buying dips into CPI event risk.
Catalysts: US CPI release, Treasury yields, and USD movement.
Silver (XAG/USD) is holding firm above the $41.00 level, consolidating as traders remain cautious ahead of the key US CPI release. The metal has been trading within a tight range, with bulls eyeing a potential breakout if inflation data boosts Fed rate cut expectations.
Fed Rate Cut Bets: Softer inflation data would reinforce expectations of larger Fed easing, supportive for silver.
Dollar Index: A subdued DXY (TVC:DXY) continues to provide a tailwind.
Industrial Demand vs. Safe-Haven Appeal: Ongoing tariff and trade tensions add dual support for silver, both as a commodity and haven.
Trend: Neutral-to-bullish; consolidation with breakout potential.
Resistance: $41.20 → $41.50 (key breakout zone).
Support: $40.80 → $40.50.
Market Sentiment: Bullish bias, but momentum paused awaiting CPI clarity.
Catalysts: US CPI release, Treasury yields, DXY performance, and industrial demand signals.
The British pound (GBP/USD – OANDA:GBPUSD) remains capped near 1.3550 as markets adopt a cautious stance ahead of the US CPI report. While dollar resilience continues to weigh on the pair, expectations of eventual Fed easing have kept downside pressure in check.
Geopolitical Risks: Limited impact on GBP/USD at present, though global risk sentiment remains a factor.
US Economic Data: CPI release will be decisive for near-term USD direction and Fed policy outlook.
FOMC Outcome: Market still pricing in aggressive rate cuts later this year, cushioning sterling’s downside.
Trend: Neutral; rangebound ahead of CPI release.
Resistance: 1.3580 → 1.3620.
Support: 1.3520 → 1.3480.
Forecast: GBP/USD is likely to consolidate near 1.3550 until CPI data. A softer CPI may spark a push toward 1.3620, while stronger inflation risks a pullback to 1.3520 or lower.
Market Sentiment: Cautiously bullish but highly data-dependent.
Catalysts: US CPI report, Treasury yields, dollar momentum, and broader risk appetite.
The Australian dollar (AUD/USD — OANDA:AUDUSD) trades muted near 0.6550, unable to capitalize on stronger Consumer Inflation Expectations data. While the survey showed households anticipating higher inflation, which could typically support the Aussie by hinting at tighter RBA policy, external factors weighed heavier. The US dollar stayed broadly supported ahead of the US CPI release, and cautious risk sentiment capped AUD/USD’s upside momentum.
Geopolitical Risks: Concerns over global growth and trade uncertainties continue to limit AUD upside.
US Economic Data: Markets await US CPI — a hot reading would strengthen USD, pressuring AUD/USD.
FOMC Outcome: Fed rate cut bets lend background support to AUD, but CPI could alter the trajectory.
Trade Policy: Australia’s trade dynamics with China remain key; China’s slower recovery adds downside risk.
Trend: Neutral, consolidating below 0.6600.
Resistance: 0.6580 → 0.6620.
Support: 0.6520 → 0.6480.
Forecast: Likely sideways until US CPI. A softer CPI could lift AUD/USD toward 0.6580–0.6620, while a strong print risks declines to 0.6520 or lower.
Market Sentiment: Cautious, with traders hesitant to add exposure before CPI.
Catalysts: US CPI release, Treasury yield movements, Chinese economic updates, RBA commentary.
Markets remain in a holding pattern as the CPI release draws near, with traders weighing sticky inflation risks against the Fed’s path to rate cuts. Precious metals continue to attract safe-haven demand, while the dollar’s direction will likely hinge on whether inflation shows signs of cooling or persistence. Until then, volatility may remain contained but could accelerate sharply once the data hits.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Global markets started the day on a cautious but constructive tone as Fed rate cut bets continued to dominate sentiment. Precious metals shone, with gold (XAU/USD) regaining traction and silver (XAG/USD) edging higher on safe-haven demand. Meanwhile, the US Dollar Index (DXY) held below 98.00, pressured by revised NFP data, while EUR/USD slipped toward 1.1700 on diverging policy signals from the Fed and the ECB. Commodity currencies like the Australian Dollar (AUD/USD) found support as the greenback eased, reflecting investors’ cautious optimism.
Gold (XAU/USD) has regained upside momentum, trading near $3,620–$3,630, as renewed trader conviction in aggressive Fed rate cuts collides with resurgent safe-haven demand amid persistent geopolitical tensions. A modest dollar uptick and improved risk tone have provided mild headwinds, but with inflation data and central bank pressure shaping sentiment, bullion remains firmly on the defensive. Markets are keenly awaiting U.S. PPI and CPI reads, which could either bolster or temper the current bullish setup.
Geopolitical Risks: Escalating global tensions continue to push investors toward safe-haven assets like gold.
US Economic Data: Elevated Fed rate-cut pricing, prompted by soft labor and inflation data, underpins gold support.
FOMC Outcome: Markets are heavily pricing in multiple rate cuts, making non-yielding gold more attractive.
Trade Policy: Uncertainties persist in global trade dynamics, further bolstering safe-haven demand.
Monetary Policy: Dovish Fed expectations reduce the opportunity cost of holding gold, fueling investor interest.
Trend: Uptrend remains strong, though near-term momentum shows signs of consolidation amid overbought conditions.
Resistance: $3,650, then $3,700 if momentum sustains.
Support: $3,600, followed by $3,550.
Forecast: Near-term retests at $3,650 are likely. A hold above $3,600 supports further upside with risk toward $3,550 on a correction.
Market Sentiment: Bullish, backed by strong rate-cut expectations and resumed safe-haven flows.
Catalysts: U.S. inflation releases (PPI, CPI) and any Fed commentary are key near-term triggers.
Silver (XAG/USD) extended its recovery, drifting higher toward $41.00, buoyed by renewed bets on a larger Fed rate cut following soft U.S. labor market and inflation data. The metal has gained traction as Treasury yields and the U.S. dollar remain under pressure, enhancing the appeal of non-yielding assets. While industrial demand signals from China remain mixed, investors are largely focused on the Fed’s policy trajectory, which continues to shape silver’s near-term momentum.
Geopolitical Risks: Lingering uncertainties, particularly in global trade, support safe-haven flows into silver.
US Economic Data: Recent weaker-than-expected U.S. labor reports bolstered expectations of aggressive Fed action.
Trade Policy: China’s trade surplus suggests stable export activity, indirectly offering some support to industrial metals.
Trend: Silver maintains a strong bullish bias but shows signs of consolidation near $41.00.
Forecast: A sustained break above $41.50 could unlock further gains, while dips toward $40.50 may attract buyers.
Market Sentiment: Bullish, supported by Fed rate cut expectations and safe-haven demand.
Catalysts: Upcoming U.S. CPI and PPI data, Fed commentary, and developments in China’s industrial output remain key triggers.
EUR/USD retreated toward 1.1700, weighed down by renewed demand for the U.S. dollar as markets continue to price in aggressive Fed easing while the ECB maintains a more cautious stance. The pair’s decline reflects short-term profit-taking after recent gains, even as broader sentiment remains tilted toward further euro resilience should the Fed move more decisively on rate cuts. Investors are closely monitoring Eurozone economic data alongside U.S. inflation releases for near-term direction.
Geopolitical Risks: Ongoing trade and political frictions keep volatility elevated in FX markets.
US Economic Data: Softer labor market signals continue to reinforce expectations of Fed policy easing.
FOMC Outcome: Markets increasingly anticipate a 50–75 bps cut, limiting dollar strength on dips.
Trend: Consolidation with a mild bearish tilt near 1.1700.
Resistance: 1.1750, then 1.1800 if recovery momentum builds.
Support: 1.1680 initially, with stronger support at 1.1650.
Market Sentiment: Neutral to slightly bearish as traders await confirmation of Fed policy direction.
Catalysts: U.S. CPI and PPI releases, ECB commentary, and Eurozone GDP revisions will be pivotal.
The US Dollar Index (DXY) remained capped below 98.00, extending its recent weakness as traders factored in revised U.S. Nonfarm Payrolls data that highlighted softening labor market conditions. The report added weight to expectations that the Federal Reserve may deliver an outsized rate cut, undermining dollar strength despite lingering demand for safe-haven assets. Market participants remain cautious ahead of U.S. CPI data, which could reinforce or challenge dovish expectations.
Geopolitical Risks: Global growth concerns and trade-related uncertainties cap risk sentiment.
US Economic Data: Downward revisions to NFP highlight labor market fragility.
FOMC Outcome: Rising odds of a 50–75 bps cut weigh heavily on the dollar.
Trend: Bearish bias below 98.00.
Resistance: 98.20, followed by 98.50.
Support: 97.40, then 97.00 if momentum accelerates.
Forecast: Unless the index regains 98.20, bearish pressure could extend toward 97.00.
Market Sentiment: Cautious with a clear dovish tilt toward further Fed easing.
Catalysts: Upcoming U.S. CPI/PPI data, Fed speeches, and global risk appetite shifts.
The Australian Dollar (AUD/USD) edged higher, reclaiming ground near 0.6660, as the U.S. dollar trimmed earlier gains amid mounting expectations of aggressive Federal Reserve rate cuts. While China’s latest CPI data signaled subdued domestic demand, the Australian dollar managed to stay resilient, supported by firmer commodity prices and improved risk appetite. The policy divergence between the Fed’s dovish tilt and the Reserve Bank of Australia’s relatively cautious stance continues to shape the pair’s outlook.
China’s Economic Data: Softer CPI underscores weak consumer demand, a headwind for AUD.
Commodity Prices: Stabilization in key exports (iron ore, coal) lends moderate support.
Fed Policy Outlook: Expectations of a 50–75 bps cut weigh on the USD.
Risk Sentiment: Equity market stabilization supports higher-beta currencies like AUD.
Trend: Consolidation with mild bullish bias above 0.6650.
Resistance: 0.6700, followed by 0.6740.
Support: 0.6620, then 0.6580.
Forecast: Sustained closes above 0.6700 may open room toward 0.6740, while downside is cushioned above 0.6620.
Market Sentiment: Cautiously bullish for AUD amid softer USD backdrop.
Catalysts: Upcoming U.S. CPI/PPI data, Chinese economic releases, and Fed guidance.
Markets remain finely balanced between soft U.S. economic data and expectations of aggressive Fed action in the weeks ahead. With gold and silver benefiting from safe-haven flows, and the dollar under pressure, traders are watching upcoming central bank guidance and macro releases to confirm direction. Attention now turns to U.S. inflation data and further Fed commentary, which will likely set the tone for the next move across currencies and commodities.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
The U.S. dollar continued to soften as traders doubled down on expectations of aggressive Federal Reserve rate cuts, pushing the Dollar Index below 97.50. Precious metals and commodities gained support from the weaker greenback, while equities across Asia showed a mixed performance. Key developments from Japan, including tariff adjustments and OPEC+ supply signals, added further direction to markets.
XAG/USD trades around $41.50, extending gains as growing market odds of a jumbo Fed rate cut after soft U.S. labor data have pressured the dollar. Softer real yields and heightened safe-haven demand have attracted buyers into silver, though the metal is meeting resistance after a rapid run—suggesting short-term consolidation or profit-taking could appear before the next leg higher. Overall momentum remains bullish while Fed signals and U.S. inflation data are digested.
Geopolitical Risks: Elevated global uncertainty continues to support precious metals as insurance trades.
US Economic Data: Weak NFP and other soft labor prints have increased rate-cut expectations, underpinning silver.
FOMC Outcome: Growing market pricing for aggressive Fed easing is a primary bullish driver for XAG/USD.
Trade Policy: No immediate trade shock; any improvement in global trade could add industrial demand support.
Monetary Policy: Dovish Fed expectations (lower rates, falling real yields) favor non-yielding assets like silver.
Trend: Bullish, but showing early signs of short-term consolidation after sharp gains.
Resistance: $41.80 → $42.20.
Support: $41.00 → $40.40.
Forecast: Hold above $41.00 to keep bullish bias; a clean break above $41.80 opens the path to $42.20+, while a failure below $41.00 risks a pullback toward $40.40.
Market Sentiment: Cautiously bullish — dips being bought, rallies trimmed.
Catalysts: U.S. CPI/PPI, Fed communications and minutes, upcoming employment data, and shifts in real yields.
The US Dollar Index (DXY) has slipped below 97.50, pressured by growing expectations of aggressive Fed rate cuts following recent weak labor data. Traders are increasingly betting on a jumbo move from the FOMC, which has undermined dollar demand despite its safe-haven status. With yields sliding and risk appetite mixed, the greenback remains vulnerable ahead of key U.S. inflation data and further labor market indicators.
Geopolitical Risks: Ongoing global uncertainty offers some haven demand, but policy expectations dominate.
US Economic Data: Weak jobs reports and softening momentum in growth data have added to dovish Fed bets.
Trade Policy: Stable trade backdrop provides little support to the dollar versus the pressure from Fed repricing.
Trend: Bearish short-term, pressured by dovish Fed expectations.
Forecast: Sustained trade below 97.50 exposes 97.20/96.80; only a recovery above 97.80 eases downside pressure.
Market Sentiment: Bearish bias — rate-cut bets weigh, sentiment cautious ahead of CPI data.
Catalysts: U.S. CPI, PPI, retail sales, Fed commentary, and risk sentiment shifts.
The Nikkei 225 (JP225) pulled back from record highs, reflecting mixed sentiment across Asian equities. While China’s trade surplus provided some support for regional risk appetite, profit-taking in Japanese stocks and caution over U.S. monetary policy weighed on the index. Investors remain wary ahead of U.S. inflation data and Fed decisions, with volatility expected as global growth concerns linger.
Geopolitical Risks: Regional political uncertainty and trade negotiations continue to affect sentiment.
US Economic Data: Weak NFP data heightens Fed rate cut bets, influencing global equity flows.
FOMC Outcome: Anticipation of a jumbo Fed cut is driving broader market positioning.
Trend: Consolidation after strong gains.
Resistance: 40,800 → 41,200.
Support: 40,200 → 39,800.
Market Sentiment: Neutral to slightly cautious — investors balancing Fed bets with profit-taking.
Catalysts: U.S. CPI data, Fed commentary, and yen fluctuations remain key drivers for the Nikkei.
The USD/JPY pair traded steadily near 147.00 as markets digested Japan’s announcement that U.S. tariffs on Japanese goods will be reduced by September 16. While the yen found limited upside from this trade policy shift, broader moves were capped by expectations of aggressive Fed rate cuts and Japan’s cautious monetary stance. Traders are balancing the supportive trade headlines with lingering uncertainty around BoJ policy.
Geopolitical Risks: U.S.–Japan trade relations improving with tariff cuts, supportive for Japanese exporters.
US Economic Data: Recent weak NFP data continues to weigh on the dollar outlook.
FOMC Outcome: Market firmly pricing in jumbo rate cuts, undermining USD strength.
Trend: Sideways consolidation near recent highs.
Resistance: 147.80 → 148.20.
Support: 146.40 → 145.80.
Forecast: Tariff news may lend mild support to yen, but USD/JPY likely remains rangebound until clearer Fed guidance.
Market Sentiment: Neutral — traders weighing U.S. rate cut bets against Japanese trade positives.
Catalysts: U.S. CPI release, tariff implementation, and BoJ commentary will guide next moves.
WTI crude oil (WTI/USD) extended gains above $62.00 as OPEC+ signaled a slowdown in production growth. The move reinforced expectations of tighter supply conditions heading into Q4, even as global demand remains uneven. A softer U.S. dollar on heightened Fed rate cut bets added further support, pushing oil prices to fresh multi-week highs.
OPEC+ Policy: Reduced production growth strengthens near-term price support.
US Dollar Weakness: DXY retreat below 97.50 provides a tailwind for dollar-denominated commodities.
Global Demand: Mixed outlook as China stabilizes while Europe shows signs of slowing demand. EUR/USD support.
Geopolitical Risks: Ongoing supply-side risks in the Middle East and Russia continue to add volatility.
Trend: Bullish bias in the short term.
Resistance: $63.20 → $64.00.
Support: $61.50 → $60.80.
Forecast: Prices likely to remain supported above $62.00 with potential extension toward $64.00 if supply curbs persist.
Market Sentiment: Bullish — supply curbs outweigh near-term demand concerns.
Catalysts: EIA weekly inventory data, OPEC+ updates, and Fed policy signals will steer momentum.
Markets remain in a wait-and-see mode as investors digest fresh signals from central banks, trade developments, and commodity flows. The dollar’s weakness keeps safe-haven and commodity assets supported, while equities show mixed resilience amid shifting policy expectations. With upcoming U.S. data likely to guide sentiment, traders will be closely watching for cues that could reinforce or challenge the prevailing dovish Fed outlook.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Gold extended its rally toward $3,600 after softer US Nonfarm Payrolls reinforced expectations of a Federal Reserve rate cut. The weak labor data weighed on the US Dollar, helping precious metals retain their momentum. Silver hovered near $40.50 as investors balanced safe-haven demand with profit-taking pressures. Meanwhile, major currencies such as the Euro, Pound, and Australian Dollar reflected a cautious tone as traders digested both local data and global monetary policy signals.
Gold (XAU/USD) extended its rally, pushing toward the $3,600 handle after disappointing US Nonfarm Payrolls reinforced expectations of imminent Fed rate cuts. The softer labor market data weighed heavily on the US Dollar, fueling safe-haven demand for bullion. Despite some resistance at higher levels, gold’s momentum remains underpinned by falling Treasury yields and a dovish shift in market sentiment, which continue to attract buyers on dips.
Geopolitical Risks: Ongoing global growth uncertainties support safe-haven demand.
US Economic Data: Weak labor data weighs on USD, lifting gold.
FOMC Outcome: Elevated odds of a September cut keep bullion supported.
Trade Policy: No fresh shifts; US–China dynamics remain a background risk.
Monetary Policy: A more dovish Fed path underpins precious metals.
Trend: Strong bullish momentum.
Resistance: $3,600 → $3,650.
Support: $3,550 → $3,500.
Forecast: A daily close above $3,600 opens $3,650; failure to clear may see consolidation toward $3,550.
Market Sentiment: Bullish; dips finding willing buyers.
Catalysts: Fed speakers, US CPI/PPI, and real-yield moves.
Silver (XAG/USD) eased modestly to around $40.50 as profit-taking set in after its sharp rally to multi-year highs. While the metal faces near-term selling pressure, broader USD weakness driven by weak US jobs data and growing Fed rate cut expectations keep the downside limited. The pullback appears corrective rather than structural, with resilient safe-haven demand and dovish monetary policy outlook continuing to lend silver a firm underpinning.
Geopolitical Risks: Uncertain global outlook sustains safe-haven interest.
US Economic Data: Softer NFP keeps USD on the back foot.
Trade Policy: Neutral near-term; watch headlines for volatility.
Trend: Bullish, with near-term consolidation.
Forecast: Likely range $40.00–$41.00; a break higher targets $41.50, while loss of $40.00 invites a pullback to $39.50.
Market Sentiment: Cautiously bullish; dips bought, rallies trimmed.
Catalysts: US CPI/PPI, Fed communications, moves in real yields.
The Australian Dollar (AUD/USD) held steady after China reported a wider-than-expected August trade surplus, providing support for risk sentiment and commodity-linked currencies. The Aussie has managed to consolidate recent gains, reflecting optimism over stronger Chinese export performance and its implications for Australia’s resource-driven economy. However, the pair’s advance remains capped by a broadly cautious market mood, with traders weighing Fed rate cut bets against ongoing global growth concerns.
Geopolitical Risks: Global trade dynamics and China’s economic outlook remain key.
US Economic Data: Weak NFP pressures USD but keeps risk appetite volatile.
FOMC Outcome: Rate cut expectations weigh on the dollar, indirectly supporting AUD.
Trend: Consolidating after a recent uptrend.
Resistance: 0.6550 → 0.6600.
Support: 0.6480 → 0.6450.
Market Sentiment: Neutral to mildly bullish, supported by Chinese trade data.
Catalysts: US inflation data, Fed commentary, and Chinese economic releases will guide direction.
The British Pound (GBP/USD) stayed under pressure, trading below the 1.3500 handle as the U.S. dollar regained traction following weak NFP-driven volatility. Despite dollar strength, sterling’s downside appears contained, supported by expectations of resilience in the UK economy and speculation that the Bank of England could maintain a relatively cautious but firm stance on rates. Markets are balancing renewed USD demand with the possibility that upcoming UK data could provide the Pound with a stabilizing base.
Geopolitical Risks: Global risk appetite remains fragile, limiting GBP upside.
US Economic Data: Weak jobs data creates Fed cut bets but still offers near-term dollar support.
FOMC Outcome: A dovish Fed caps USD gains, giving GBP breathing space. under pressure.
Trend: Mildly bearish, consolidating below 1.3500.
Resistance: 1.3520 → 1.3550.
Support: 1.3460 → 1.3420.
Forecast: Likely to remain range-bound between 1.3460–1.3520, with limited downside risk while above 1.3420.
Market Sentiment: Neutral to slightly bearish given stronger USD tone.
Catalysts: Upcoming UK Retail Sales, US CPI, and Fed guidance will drive momentum.
The Euro (EUR/USD) extended its recovery, holding firm above the 1.1700 threshold as persistent Fed rate cut expectations pressured the U.S. dollar. The pair’s momentum reflects not only dollar softness but also modest optimism around the Eurozone, where Q2 GDP data is set to provide fresh direction. While the upside remains capped by lingering concerns over Eurozone inflation and growth divergences, the pair’s resilience signals strong underlying demand.
Geopolitical Risks: Euro supported by relative stability versus USD, but risks from Ukraine and energy prices linger.
US Economic Data: Weak jobs report and soft inflation data bolster Fed rate cut expectations.
FOMC Outcome: A dovish tilt limits USD upside, lending EUR/USD support.
Trade Policy: No major drivers, though EU trade confidence remains fragile.
Trend: Bullish bias above 1.1700.
Resistance: 1.1740 → 1.1780.
Support: 1.1680 → 1.1650.
Forecast: Likely to stay firm above 1.1700, with scope to test 1.1780 if USD weakness persists.
Market Sentiment: Slightly bullish, fueled by dovish Fed expectations.
Catalysts: Eurozone GDP, US CPI, and central bank commentary remain key triggers.
Overall, weaker US data and growing Fed cut bets remain the dominant drivers across global markets. Gold and silver continue to lead the safe-haven rally, while currency pairs fluctuate around shifting dollar sentiment. With upcoming economic releases and central bank commentary in focus, traders are likely to see heightened volatility. Market participants will be closely watching whether the Fed’s next move confirms or tempers these expectations, setting the stage for the week ahead.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
FX markets are setting up for a pivotal session as traders turn their attention to the upcoming UK Retail Sales report, which could provide fresh direction for the Pound. The GBP/USD pair sits in focus, with market participants weighing the potential impact of consumer activity on Bank of England policy outlook. Meanwhile, the Japanese Yen holds recent gains on solid domestic data, while the Euro and Canadian Dollar await critical releases in GDP and jobs. Broader sentiment remains cautious as expectations of a Fed rate cut continue to pressure the US Dollar, setting the stage for volatility ahead of Friday’s Nonfarm Payrolls.
The UK Retail Sales report is scheduled for release at 06:00 GMT today, with expectations of a 0.2% MoM increase, down from June’s 0.9%, and core retail sales projected to rise by 0.4% MoM and 1.2% YoY, softer than prior readings. A stronger-than-expected outcome could bolster the Pound, while a weak print may limit reaction since markets are bracing for the U.S. Nonfarm Payrolls later in the day.
Geopolitical Risks: Current geopolitical tensions have limited direct impact ahead of today’s key data.
US Economic Data: The NFP report will be a major event influencing USD strength.
FOMC Outcome: Fed cut expectations stay elevated, potentially reducing USD support.
Trade Policy: No notable developments; focus remains squarely on data-driven sentiment.
Monetary Policy: A robust retail sales print may ease doubts about the BoE’s stance, offering support to GBP.
Trend: Neutral-to-cautious in the 1.3400–1.3500 range.
Resistance: 1.3440–1.3460 (200-period SMA, Fibonacci 50% retracement, 100-day SMA).
Support: 1.3350–1.3380 and then 1.3300 (Fibonacci 23.6% retracement).
Forecast: A strong retail number might push GBP/USD toward 1.3460–1.3500. Conversely, a miss could see it slip back toward 1.3350.
Market Sentiment: Cautiously optimistic toward GBP, with traders split between domestic data strength and broader global risk factors.
Catalysts: UK Retail Sales at 06:00 GMT, U.S. Nonfarm Payrolls, and looming Fiscal Policy risks in the UK.
The Japanese Yen (USD/JPY) strengthened on Friday, bolstered by upbeat domestic data showing positive real wages and stronger-than-expected household spending. At the same time, the USD came under pressure from growing Fed rate cut bets ahead of the US NFP report. These developments combined to reinforce the Yen’s appeal.
Geopolitical Risks: A supportive backdrop from easing trade tensions—highlighted by eased US auto tariffs—further supports the JPY.
US Economic Data: Softer labor market data enhances expectations of upcoming Fed cuts, reducing USD strength.
Trade Policy: Any easing in policies toward Japanese exporters—or reduced tariffs—adds favorable sentiment for the Yen.
Trend: Bullish momentum evident as the pair moves lower against USD.
Forecast: If the weak USD trend persists, USD/JPY could test 147.00 and potentially dip toward 146.50, though an upside bounce toward 148.20 remains possible if risk sentiment shifts.
Market Sentiment: Positive for JPY amid policy uncertainty in the U.S. and anticipation of weaker NFP data.
Catalysts: Watch for NFP results, BoJ commentary, US wage data, and geopolitical developments.
The US Dollar Index (DXY) softened toward 98.00 as markets increasingly priced in the likelihood of a Federal Reserve rate cut this month. Softer US labor data has heightened these expectations, putting pressure on the greenback ahead of today’s Nonfarm Payrolls report.
Geopolitical Risks: Elevated global uncertainty is typically supportive of the USD, but dovish Fed expectations are currently outweighing safe-haven buying.
US Economic Data: Recent labor market softness has fueled rate-cut speculation—markets now assign nearly a 100% chance of a Fed cut this month.
FOMC Outcome: Comments from Fed officials suggest cautious easing is on the horizon, limiting the dollar’s near-term upside.
Trend: Softening, with downward momentum as rate-cut odds climb.
Resistance: 98.30 → 98.60
Support: 97.80 → 97.50
Market Sentiment: Cautiously bearish on the dollar amid growth concerns and Fed easing bets.
Catalysts: U.S. NFP data, ADP employment numbers, Fed commentary, and updated rate expectations.
The USD/CAD edged lower toward 1.3800 as traders positioned ahead of the key U.S. Nonfarm Payrolls (NFP) report. Softer expectations for U.S. jobs growth, coupled with ongoing Fed rate cut bets, weighed on the greenback. Meanwhile, stable oil prices provided some modest support to the Canadian Dollar.
Geopolitical Risks: Broader market uncertainty is limiting CAD’s upside, though it remains tied closely to energy sentiment.
US Economic Data: Traders are cautious ahead of NFP; weak data could reinforce Fed cut bets and push USD/CAD lower.
FOMC Outcome: Market consensus expects a rate cut this month, keeping USD under pressure.
Trend: Bearish bias near-term, with downside momentum building below 1.3850.
Resistance: 1.3840 → 1.3880
Support: 1.3780 → 1.3740
Forecast: A break below 1.3780 could accelerate losses toward 1.3740, while upbeat U.S. jobs data could trigger a rebound above 1.3850.
Market Sentiment: Cautiously bearish on USD/CAD as NFP looms.
Catalysts: U.S. NFP report, Canadian trade balance data, oil price swings, and Fed commentary.
The EUR/USD edged higher above 1.1650 as traders await the release of Q2 Eurozone GDP data. The pair has benefited from renewed USD weakness driven by Fed rate cut expectations, while optimism around Eurozone growth is lending additional support.
Geopolitical Risks: Limited impact for now, though ongoing global growth concerns could influence sentiment.
US Economic Data: Anticipation of NFP keeps USD on the defensive; weaker results could further pressure the Dollar.
FOMC Outcome: Markets are leaning toward a Fed rate cut, reinforcing bearish USD flows.
Trade Policy: Neutral at present, no major announcements affecting the Euro.
Trend: Bullish momentum as long as price holds above 1.1620.
Resistance: 1.1680 → 1.1720
Support: 1.1620 → 1.1580
Forecast: A strong Eurozone GDP print could propel EUR/USD toward 1.1720, while weaker data may trigger a retreat below 1.1620.
Market Sentiment: Moderately bullish, supported by Dollar softness and growth optimism in the Eurozone.
Catalysts: Q2 Eurozone GDP release, U.S. NFP, Fed rate cut signals, and Eurozone retail sales.
The day ahead is poised to bring renewed momentum across major FX pairs as traders navigate a mix of economic releases and shifting policy expectations. With the Pound’s trajectory hinging on Retail Sales, the Eurozone GDP update, and the US NFP looming, the market narrative remains data-driven. Risk sentiment is fragile as uncertainty over the Fed’s rate path persists, keeping investors alert to surprises. As the week progresses, currencies are likely to trade in ranges until clearer signals emerge from the data slate, with opportunities favoring those ready to adjust quickly to changing fundamentals.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
Open a live account and start trading in just minutes.
Fund your account using a wide range of funding methods.
Access 1000+ instruments across all asset classes
