Daily Analysis By zForex Research Team - 02.21.2025
Euro Stabilizes, Yen Slips Despite BOJ Hawkishness
The euro held steady near 1.0500 ahead of key PMI data, while the yen weakened past 150 despite rising inflation and BOJ’s hawkish stance.
Gold stayed near record highs as trade war fears and geopolitical tensions supported safe-haven demand. The British pound remained firm above 1.2600, driven by expectations of strong UK retail sales. Silver rebounded toward $33 per ounce as markets assessed Fed policy and escalating trade risks.
Gold Analysis By zForex Research Team - 02.21.2025
Gold Benefits from Trade War Fears
Gold hovered near $2,940 per ounce, close to its record high of $2,950, and was set for an eighth weekly gain as global uncertainties fueled safe-haven demand. President Trump’s new tariffs on lumber, cars, semiconductors, and pharmaceuticals escalated trade tensions, while reports suggested he may withdraw US support for Ukraine in talks with Russia, raising geopolitical risks. US Treasury Secretary Scott Bessent dismissed speculation about revaluing bullion reserves, and Swiss customs data revealed gold exports to the US hit a 13-year high in January.
Key resistance stands at $2,949, with further levels at $2,975 and $3,000. Support is at $2,880, followed by $2,830 and $2,760.
Silver Analysis By zForex Research Team - 02.21.2025
Silver Climbs as Market Weighs Fed Policy
Silver climbed toward $33 per ounce on Thursday, rebounding from the previous session’s losses as trade and geopolitical risks fueled safe-haven demand. President Trump’s plan for 25% tariffs on automobiles, semiconductors, and pharmaceuticals reignited trade war fears, while his remarks calling Ukraine’s President Zelenskiy a dictator added to market uncertainty amid ongoing peace talks with Russia. Meanwhile, Fed officials signaled in January that more inflation progress is needed before considering rate cuts, with concerns over the economic impact of new tariffs.
Key resistance stands at 33.15, with further levels at 33.80 and 34.50. Support is at 31.40, followed by 30.90 and 30.20.
Daily Analysis By zForex Research Team - 02.24.2025
CB Shifts and Trade Uncertainty Drive Global Asset Moves
Global markets are reacting to divergent central bank signals and mounting trade uncertainty.
The euro rebounded above $1.05 after a strong German election, with investors eyeing further ECB easing. Meanwhile, the yen held near 149 amid hawkish BOJ signals, and gold pushed close to record highs on safe-haven demand driven by US policy concerns. The British pound remains steady at nearly $1.26 on solid economic data, while silver surged to a four-month high due to strong industrial demand and trade tensions.
EUR/USD Analysis By zForex Research Team - 02.24.2025
Euro Climbs Above $1.05 After German Conservatives Secure Election Win
The euro climbed 0.5% to over $1.05 on Monday, near a month-high after Germany’s conservative Christian Democrats won, with exit polls matching expectations. Investors now watch the coalition formation process, as opposition leader Friedrich Merz aims to form one within two months. Strong leadership is seen as crucial for overdue fiscal reforms amid economic stagnation, the Ukraine conflict, and Trump's tariff threats. Meanwhile, Eurozone private sector activity remained steady in February, with the PMI at 50.2, just below the expected 50.5.
Key resistance is at 1.0520, followed by 1.0600 and 1.0650. Support stands at 1.0350, with further levels at 1.0275 and 1.0220.
Gold Analysis By zForex Research Team - 02.24.2025
Gold Approaches Record High as Investors Await PCE Data
Gold rose to $2,940 per ounce on Monday, nearing its record high amid strong safe-haven demand. Concerns over Trump’s tariff plans and weaker U.S. business activity increased its appeal. Investors await Friday’s PCE index for clues on Fed policy, while high prices dampen demand in China and India.
Key resistance stands at $2,949, with further levels at $2,975 and $3,000. Support is at $2,880, followed by $2,830 and $2,760.
Daily Analysis By zForex Research Team - 02.25.2025
Markets Keep Steady Amid Changing Political Conditions
Global markets remain steady amid mixed economic signals and evolving trade policies.
The euro climbed to around $1.0475 following strong German election results, while investors await coalition talks. The yen strengthened near a 12-week high at 149.5 on expectations of further BOJ hikes as key inflation data looms. Gold held near record highs, supported by safe-haven demand amid Trump's tariff actions and inflation fears, and silver traded near $31.8 as traders watch for upcoming US inflation reports and Fed cues. Meanwhile, the British pound rose above $1.26 on optimistic UK data, reflecting cautious sentiment across global assets.
GBP/USD Analysis By zForex Research Team - 02.25.2025
Pound Rises to $1.26 Amid Strong UK Data
The British pound traded near $1.26, a two-month high, as data reinforced expectations of a cautious Bank of England. Inflation hit 3% last month, exceeding the 2.8% forecast, while services inflation rose to 5%, just below the BoE’s 5.2% estimate. Wage growth accelerated in Q4 2024, with real wages increasing after inflation. Retail sales also jumped 1.7%, driven by strong food demand, leading markets to price in just two rate cuts this year, bringing rates down to 4%.
The first resistance level for the pair will be 1.2670. In the event of this level's breach, the next levels to watch would be 1.2720 and 1.2770. On the downside 1.2340 will be the first support level. 1.2265 and 1.2100 are the next levels to monitor if the first support level is breached.
USD/JPY Analysis By zForex Research Team - 02.25.2025
Yen Strengthens as Investors Await BoJ Policy Clues
The Japanese yen traded around 149.5 per dollar on Tuesday, near a 12-week high, as expectations grew for further Bank of Japan rate hikes following strong Q4 inflation. Investors await key data on Friday, including industrial production, retail sales, and Tokyo inflation, for policy insights. Safe-haven demand also supported the yen amid trade and geopolitical tensions. Meanwhile, U.S. President Donald Trump confirmed tariffs on Canada and Mexico will resume next week after a one-month delay.
Key resistance is at 154.90, with further levels at 156.00 and 157.00. Support stands at 149.20, followed by 147.10 and 145.80.
Daily Analysis By zForex Research Team - 02.26.2025
USD Strengthens as Yields Rise, Gold Holds, Yen Gains
The US Dollar strengthened as Treasury yields rose, weighing on EUR/USD, while weak US data reinforced the Fed’s cautious stance.
Gold steadied near $2,920 amid trade concerns, while the yen held firm on BOJ hike speculation. GBP/USD hovered near $1.2640 as BoE rate cut expectations grew, and silver extended losses ahead of key US inflation data.
EUR/USD Analysis By zForex Research Team - 02.26.2025
EUR/USD Retreats to 1.0500 as USD Strengthens on Rising Yields
EUR/USD slipped to 1.0500 in Asian trading on Wednesday, retreating as the US Dollar strengthened amid rising Treasury yields.
The Dollar Index (#DXY) neared 106.50, with 2-year and 10-year US Treasury yields climbing to 4.12% and 4.32%, respectively. However, weak US data limited gains as consumer confidence fell for a third straight month to 98.3. Richmond Fed President Thomas Barkin forecasted a further PCE inflation decline, reinforcing the Fed’s cautious stance on policy adjustments.
In Europe, optimism over Germany's €200 billion defense fund and potential debt brake reforms supported the Euro. Meanwhile, ECB policymakers remain divided on rate cuts, with Joachim Nagel open to further easing if inflation trends lower, while Isabel Schnabel cautioned against premature reductions. The ECB meeting next week is expected to deliver a fifth consecutive rate cut.
Key resistance is at 1.0520, followed by 1.0600 and 1.0650. Support stands at 1.0450, with further levels at 1.0350 and 1.0275.
Yen Analysis By zForex Research Team - 02.26.2025
Yen Strengthens Amid BOJ Hike Speculation
The Japanese yen eased to 149.5 per dollar on Wednesday, retreating from a 4.5-month high as the US dollar stayed firm amid Trump’s rising tariff threats. Trump ordered a probe into copper tariffs and confirmed tariffs on Canada and Mexico will proceed next week. Despite the pullback, the yen remained near multi-month highs on expectations that the Bank of Japan will continue raising rates after strong Q4 inflation data. Investors await key reports on Friday, including industrial production, retail sales, and Tokyo inflation, for further policy insights.
Key resistance is at 154.90, with further levels at 156.00 and 157.00. Support stands at 149.20, followed by 147.10 and 145.80.
Daily Analysis By zForex Research Team - 02.27.2025
Dollar Surges on Tariffs, Commodities Weaken
The US dollar strengthened as renewed tariff concerns weighed on major currencies and commodities.
EUR/USD dropped to 1.0465 with trade tensions, while the yen weakened past 149 as markets awaited key Japanese data. Gold dipped below $2,910, pressured by a stronger dollar and weak Chinese demand. GBP/USD fell to 1.2660, driven by risk aversion and rising US yields. Silver declined to $31.60 as strong supply and lower demand offset rate-cut expectations.
Gold Analysis By zForex Research Team - 02.27.2025
Gold Dips, US Data and Demand in Focus
Gold fell below $2,910 per ounce on Thursday, extending its pullback from Monday’s record high of $2,950 amid a stronger US dollar. Q4 GDP and Friday’s PCE price index are expected to shed light on the economic future in the coming days. Weak US data has reinforced expectations of accelerated rate cuts.
Meanwhile, signs of weakening physical demand emerged as China’s gold imports via Hong Kong hit a nearly three-year low in January, while Swiss data showed a 99% year-over-year drop in gold exports to China.
Key resistance stands at $2,949, with further levels at $2,975 and $3,000. Support is at $2,880, followed by $2,830 and $2,760.
GBP/USD Analysis By zForex Research Team - 02.27.2025
Risk Aversion Pressures Pound to 1.2660
GBP/USD declined after two sessions of gains, trading around 1.2660 during Asian market hours. The pair weakened as the US dollar gained strength, driven by heightened risk aversion and rising US Treasury yields.
On the UK front, Bank of England (BoE) Monetary Policy Committee member Swati Dhingra noted that increased US tariffs could strengthen the dollar in the short term, potentially leading to some inflationary effects in the UK. However, she suggested that reduced global price pressures resulting from these tariffs would likely mitigate the overall impact on UK inflation.
The first resistance level for the pair will be 1.2680. In the event of this level's breach, the next levels to watch would be 1.2720 and 1.2770. On the downside 1.2340 will be the first support level. 1.2265 and 1.2100 are the next levels to monitor if the first support level is breached.
Daily Analysis By zForex Research Team - 02.28.2025
Yen Gains, Gold and GBP Under Pressure
EUR/USD fell below 1.04 as US-EU trade risks weighed on the Euro, while the Japanese yen neared a 4% monthly gain on BOJ rate hike expectations.
Gold dipped below $2,860 amid a stronger US dollar, and silver held near $31.7 despite demand concerns. GBP/USD remained under pressure due to uncertainty in the UK trade deal.
EUR/USD Analysis By zForex Research Team - 02.28.2025
EUR/USD Falls Below 1.04 with US Data
EUR/USD extends its decline for a third day, trading near 1.0390 in the Asian session on Friday. The Euro remains pressured as risk sentiment weakens amid renewed US-EU trade tensions. US President Trump signaled potential tariffs on EU goods as early as April, announcing a 25% tariff on European automobiles and other products “very soon.” In response, an EC representative warned of strong, immediate retaliation against any unjustified trade restrictions.
The risk of a trade conflict adds to the Eurozone’s struggles with weak demand, deepening the Euro’s losses. Meanwhile, the US Dollar remains strong, with the DXY near 107.50 after positive data. On Thursday, US GDP grew 2.3% in Q4 2024, matching estimates, while durable goods orders surged 3.1% in January, beating the 2% forecast and rebounding from December’s 2.2% drop.
Key resistance is at 1.0450, followed by 1.0530 and 1.0600 as rising US economic strength and escalating trade tensions keep EUR/USD under pressure. Support stands at 1.0350, with further levels at 1.0275 and 1.0220.
Silver Analysis By zForex Research Team - 02.28.2025
Silver Prices React to Copper Tariffs
Silver held near $31.7 per ounce in late February, pressured by demand uncertainties and strong supply. Profit-taking also weighed on prices, though silver remains up about 10% year-to-date.
Hecla Mining reported a 13% increase in 2024 silver output, reaching 16.2 million ounces, the second-highest in its 134-year history. Meanwhile, US silver coin purchases fell 27% year-on-year in January to 3.5 million ounces, the lowest January demand since 2018.
Soft US economic data fueled expectations for Fed rate cuts, supporting precious metals. Investors also monitored trade developments after Trump ordered a probe into copper tariffs to boost US production.
Technically, the first resistance level is 33.15, with the next levels at 33.80 and 34.50 if breached. On the downside, support stands at 31.00, followed by 30.20 and 29.75 if further declines occur.
Daily Analysis By zForex Research Team - 03.03.2025
Euro Rises on Ukraine Peace Talks, Dollar Weakens
The euro rebounded to $1.04 as EU leaders prepared a Ukraine peace proposal for the U.S., supporting sentiment.
Meanwhile, the U.S. dollar eased as investors weighed tariff uncertainty, with Commerce Secretary Howard Lutnick suggesting possible revisions. The yen strengthened as the BOJ maintained its hawkish stance, while gold and silver saw gains amid trade and inflation concerns. Market focus now shifts to the ECB meeting, where another rate cut is expected.
GBP/USD Analysis By zForex Research Team - 03.03.2025
GBP Drops Despite Strong Inflation and Retail Sales Data
The British pound fell to $1.265 as February PMI data showed business activity stalled for the fourth straight month, with rising job losses from weaker sales and higher costs. Concerns over stagflation complicate the BoE’s outlook, though sterling remains up 0.5% for the week after strong inflation data. UK retail sales beat expectations, and January's budget surplus reached £15.4 billion, below the £20.3 billion forecast. GfK’s consumer confidence index stayed negative but improved across key metrics.
The first resistance level for the pair will be 1.2680. In the event of this level's breach, the next levels to watch would be 1.2720 and 1.2770. On the downside 1.2500 will be the first support level. 1.2435 and 1.2350 are the next levels to monitor if the first support level is breached.
