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Silver Holds Ground on Fed Inflation WarningsSilver is hovering near $38 during Thursday’s Asian session as markets digest U.S.-EU trade developments and Fed inflation commentary. President Trump said deals with the EU and India are within reach, softening immediate trade fears. Still, the potential August 1 tariffs and inflationary risks continue to support silver’s appeal as a safe-haven asset. Fed officials Williams and Bostic noted that although tariff impacts are modest now, they expect rising inflationary pressure in the coming months. Resistance is at 38.50, while support holds at 37.20.
FOREXCOM:XAGUSD
by ChartMage
Euro Slips, Brussels Stalls RetaliationEUR/USD is pulling back toward 1.1620 in Thursday’s Asian session as markets await Eurozone HICP data, with eyes on US June retail sales later in the day. The dollar stays firm on expectations that the Fed will hold rates at 4.25%-4.50% in July amid tariff-driven uncertainty. President Trump announced plans to notify over 150 countries of a 10% tariff, possibly rising to 15-20%, targeting those with minimal U.S. trade ties. He criticized Fed Chair Powell but admitted removing him might destabilize markets, while floating possible trade deals with Europe and India. Strong June CPI has reignited concerns about prolonged high rates. Dallas Fed’s Lorie Logan and New York Fed’s John Williams both warned that tariffs may keep inflation elevated, reinforcing the case for keeping rates steady. Resistance for the pair is at 1.1670, while support is at 1.1580.
by ChartMage
Silver Rebounds Toward $38 as Dollar EasesSilver rebounded toward $38 per ounce on Friday, recovering from a two-day decline as the U.S. dollar and Treasury yields eased. The move reflected shifting sentiment on Fed policy and trade conditions after earlier losses sparked by inflation data that reduced hopes for near-term rate cuts. U.S. stock futures edged higher following record closes for the S&P 500 and Nasdaq, driven by strong retail sales, lower jobless claims, and optimism in AI-related tech stocks after Taiwan Semiconductor’s positive forecast. On monetary policy, Fed officials remain divided: Mary Daly expects two rate cuts this year, while Adriana Kugler urges caution due to tariff-driven inflation. President Trump reinforced trade tensions by sending letters to over 20 partners setting new tariffs between 20% and 40%. In corporate updates, United Airlines expects stronger earnings in the second half of 2025, and Chevron signaled higher future cash flow as production in its top U.S. oil field nears a plateau. Resistance is at 38.50, while support holds at 37.20.
TVC:SILVER
by ChartMage
Yen Rebounds as Japan Inflation Stays ElevatedThe yen rose to around 148 per dollar on Friday, recovering from the previous day’s decline as markets assessed fresh inflation figures. Japan’s inflation eased slightly to 3.3% in June from 3.5% in May but remained above the Bank of Japan’s 2% target for the 39th straight month. This persistent overshoot has intensified speculation about possible policy tightening by the central bank. Resistance is at 149.30, with major support at 147.50.
by ChartMage
Silver Holds Near $36.80 on Tariff FearsSilver remains steady just below $37.00, hovering around $36.80 in Tuesday’s Asian session after a sharp rebound from the $36.15 level seen late Monday. The metal continues to trade in a tight range as conflicting market signals keep traders cautious. Global trade tensions and geopolitical uncertainties, fueled by the U.S.’s upcoming tariffs on multiple countries and its hardline stance against BRICS-aligned nations, have elevated market risk perception. This has sparked a modest uptick in safe-haven demand, offering limited support to silver. The strength of the U.S. Dollar and uncertainty surrounding future interest rate decisions are capping silver’s upside potential. Market participants remain focused on incoming economic data and central bank signals for clearer direction. In the near term, silver is expected to stay volatile and highly reactive to geopolitical and economic headlines. Resistance is at 37.50, while support holds at 35.40.
FOREXCOM:XAGUSD
by ChartMage
Yen Falls After Trump's 25% Tariff on JapanThe Japanese yen weakened beyond 146 per dollar on Tuesday, hitting a two-week low after President Trump confirmed a 25% tariff on Japanese imports starting August 1, lower than the earlier 35% threat but still above the standard 10%. Japan’s Prime Minister Ishiba pledged to keep negotiating for a favorable outcome. Although Japan’s May current account surplus came in stronger than expected, disappointing wage growth limited hopes for further Bank of Japan rate hikes, adding pressure on the yen. Key resistance is at 146.20; major support at 144.85.
by ChartMage
Japan Seeks US Deal as Tariff Deadline NearsThe yen hovered around 145 per dollar Friday after a nearly 1% drop in the previous session, pressured by trade uncertainties as Tokyo seeks a deal with Washington before next week’s deadline. Trump may announce new tariffs or extend deadlines today, having previously threatened tariffs up to 35% on Japanese goods over low US rice and car imports. The yen also weakened as a stronger US dollar followed a better June jobs report, easing recession fears and reducing near-term Fed cut chances. In Japan, May household spending grew more than forecast, supported by government efforts to increase demand. The key resistance is at $145.35, meanwhile the major support is located at $143.55.
by ChartMage
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Gold Supported by Trade HopesGold traded around $3,360 per ounce on Thursday, supported by news of a US-Vietnam trade deal and ongoing dollar weakness. The deal, which eases some tariffs on Vietnamese goods, increased hopes for further bilateral agreements. Meanwhile, softer US labor data, ADP figures showed the first payrolls drop in over two years, strengthened the case for Fed easing. Tensions in the Middle East, with Iran halting cooperation with the UN nuclear agency, added a touch of geopolitical risk. Resistance is at $3,395, while support holds at $3,330.
OANDA:XAUUSD
by ChartMage
JPY Steadies, Trade Optimism Counters Dollar WeaknessThe Japanese yen held near 143.7 against the dollar on Thursday, stabilizing after recent losses, supported by improved trade sentiment and a weaker greenback. Japan reiterated its aim for a fair trade deal with the US, though Trump raised pressure by threatening tariffs up to 35% on Japanese imports over low US rice and car sales. Meanwhile, a finalized US-Vietnam deal added to market optimism. The yen also found support as investors awaited key US jobs data, which could increase the odds of a Fed rate cut. Key levels: Resistance at 145.70; support at 143.55.
by ChartMage
Ceasefire Supports Yen’s StrengthThe Japanese Yen stayed strong near a one-week high around 145.5 on Wednesday, supported by risk-off sentiment and dovish commentary from the Bank of Japan. Several BOJ members favored steady rates with concerns over U.S. tariffs and their impact on Japan’s economy. May’s Services PPI remained above 3% yearly, strengthening speculation that the BOJ could still raise rates later this year. Meanwhile, lingering geopolitical uncertainty and expectations of Fed rate cuts continued to pressure the US Dollar. The key resistance is at $146.20, and the major support is at $144.85.
by ChartMage
British Pound Slips to One-Month LowGBP/USD briefly climbed to 1.3560 in early European trading, supported by dollar softness and anticipation of upcoming speeches from BoE Governor Bailey and Fed Chair Powell. However, the pair remains under pressure, as market doubts linger around the ceasefire’s durability, especially after new missile activity by Israel’s IDF. Fed rate cut expectations continue to build: odds for July are now at 23%, and 78% for September, fueled by dovish remarks from Governor Bowman. Resistance is seen at 1.3600, while support holds at 1.3500.
by ChartMage
Safe-Haven Flows Lift Silver Near $36.10Silver (XAG/USD) rose near $36.10 on Monday, snapping a three-day losing streak as rising Middle East tensions increased safe-haven demand. The gain followed US airstrikes on three Iranian nuclear sites Sunday. Iran vowed to respond, while Trump warned any retaliation would be met with greater force. Escalation risks continue to support silver. Additionally, Fed Governor Waller signaled a possible rate cut as early as July. Dovish Fed comments and lower rates tend to increase silver demand by making it more affordable globally. The first resistance is seen at 37.50, while the support starts at 35.40.
FOREXCOM:XAGUSD
by ChartMage
Trump’s Strike on Iran Lifts Dollar, Weighs on EuroEUR/USD dipped to around 1.1480 in early Asian trading Monday as the dollar strengthens following President Trump’s decision to join Israel’s war on Iran, escalating the conflict. Over the weekend, US forces struck three Iranian nuclear sites; Fordo, Natanz, and Isfahan. Trump claimed the facilities were “totally obliterated” and warned of harsher attacks unless Iran seeks peace. The escalation supports safe-haven demand for the dollar, pressuring EUR/USD. Meanwhile, the ECB cut rates for the eighth time this year but signaled a pause in July. President Lagarde said cuts are nearing an end, which may help limit euro losses. Resistance is located at 1.1530, while support is seen at 1.1450
by ChartMage
EUR/USD Pressured by Safe-Haven Dollar DemandEUR/USD traded near 1.15 on Wednesday, under pressure from safe-haven demand for the U.S. dollar as Middle East tensions escalated. Fears of broader conflict involving the U.S. kept the dollar firm. Markets await the Federal Reserve’s policy decision, with rates expected to stay unchanged, though guidance may shape future expectations. The euro remained weak, burdened by Europe’s energy import exposure amid rising oil prices. Resistance is located at 1.1580, while support is seen at 1.1460.
by ChartMage
Weaker PPI Caps Dollar Strength in GBP/USDGBP/USD fell to around 1.3530 early Friday as escalating tensions in the Middle East supported demand for the US Dollar. Israel’s preemptive strike on Iran raised fears of retaliation, with Iranian officials warning of severe consequences for both the US and Israel, pressuring risk-linked currencies like the Pound. However, weaker US PPI data limited further USD strength. May’s PPI increased just 0.1%, below the 0.2% forecast, while the core PPI also came in softer. Attention now turns to the upcoming Michigan consumer sentiment report. Resistance is at 1.3600, with support around 1.3425.
by ChartMage
EUR/USD Slips on Geopolitical TensionsEUR/USD dropped to around 1.1530 on Friday, ending a four-day rally, as safe-haven demand lifted the US Dollar amid rising Middle East tensions. Israel struck Iranian targets to weaken its nuclear program, prompting emergency measures. The US denied involvement but warned Iran not to target its assets. Trump’s plan to expand steel tariffs from June 23 added trade uncertainty, while soft US inflation data kept Fed rate cut hopes alive. Markets now await the US Michigan Sentiment report for further signals. Resistance is located at 1.1580, while support is seen at 1.1460.
by ChartMage
EUR/USD Drifts Lower as Dollar ReboundsEUR/USD is struggling to hold onto Thursday’s rebound from the 1.1200 region—its lowest in nearly 10 days—and trades with a slight bearish bias in Friday’s Asian session. The pair is hovering near the mid-1.1300s, down around 0.15% on the day. The US Dollar regained some ground due to renewed safe-haven demand after a federal appeals court reinstated former President Trump’s broad trade tariffs, injecting fresh uncertainty into the markets. However, the dollar’s momentum remains limited by concerns over the US fiscal outlook and expectations of Fed rate cuts in 2025. The euro finds partial support as Trump postponed tariffs on EU imports. Market focus now shifts to the upcoming US PCE inflation data, which may influence Fed policy expectations, followed by next Thursday’s ECB meeting for further direction. Resistance is seen at 1.1400, with higher levels at 1.1460 and 1.1500. Support is located at 1.1300, followed by 1.1260 and 1.1210.
by ChartMage
Gold Extends Decline as Safe-Haven Demand WeakensGold fell below $3,260 on Thursday, its fourth straight decline, as easing tariff fears reduced safe-haven demand. The drop followed a U.S. court ruling that Trump exceeded his authority in imposing tariffs, ordering their removal. The decision is expected to be appealed. Fed minutes showed a cautious stance as officials assess policy impacts, citing risks of both inflation and job losses. Meanwhile, U.S. gold exports to Switzerland surged in April after metal tariffs were lifted, shifting global trade flows. The first critical support for gold is seen at the $3245 and the first resistance is located at $3295.
EIGHTCAP:XAUUSD
by ChartMage
Euro Weakens Near 1.1240 Amid Economic ReleasesEUR/USD extended its decline for a third straight session, trading near 1.1240 during Thursday’s Asian hours. Market attention is now turning to key upcoming U.S. economic releases, including Q1 Annualized GDP, quarterly PCE Prices, and weekly Jobless Claims. The U.S. dollar gained strength following a federal court decision on Wednesday, which blocked former President Trump’s attempt to enforce "Liberation Day" tariffs, ruling the measure unconstitutional and beyond presidential authority, according to a Manhattan court panel. The key resistance is located at 1.1290 and the first support stands at 1.1200.
by ChartMage
Euro Nears $1.14 as Dollar is PressuredEUR/USD climbed to $1.1395, approaching a one-month high as the dollar softened amid mounting U.S. fiscal concerns and uncertainty over Trump’s tax-and-spending bill. Risk sentiment improved after Trump delayed a planned 50% tariff on EU goods, easing fears of a transatlantic trade clash. The euro also gained from ECB President Lagarde’s remarks that it could strengthen as a global currency if EU institutions were reinforced. Resistance is at 1.1425, with additional levels at 1.1460 and 1.1580. Support begins at 1.1260, followed by 1.1100 and 1.1050.
by ChartMage