Daily Global Analysis By zForex

[Z Forex]

GBP/USD Analysis by zForex Research Team - 01.02.2025​

GBP/USD Starts New Year at 1.2535 Ahead of US Data​

The GBP/USD pair started trading in the new year at around 1.2535. In the later hours of the day, the upcoming PMI and unemployment data from the US, along with a relatively quiet economic calendar in the UK, are expected to create volatility in the GBP/USD pair.

The first resistance level for the pair will be 1.2600. In case of this level's breach, the next levels to watch would be 1.2645 and 1.2700. On the downside 1.2500 will be the first support level. 1.2460 and 1.2400 are the next levels to monitor if the first support level is breached.

 

[Z Forex]

Daily Analysis by zForex Research Team - 01.03.2025​

Dollar Rise Continues, Euro and Yen Under Pressure​

The US dollar strengthened against the euro as the US economy outperformed, leading to fewer expected Fed rate cuts.

The yen weakened despite intervention, while gold held steady amid geopolitical tensions and central bank demand. The GBP/USD pair fell sharply due to risk-off sentiment and fewer expected US rate cuts. Silver benefited from a pause in rising bond yields.

 

[Z Forex]

EUR/USD Analysis by zForex Research Team - 01.03.2025​

US Economic Resilience Drives Dollar Higher​

The EUR/USD pair is trading at around 1.0237 on Friday morning. The dollar index remains above 109, holding near its highest levels in two years, as investors bet on the strength of the U.S. economy and fewer rate cuts from the Federal Reserve this year. The U.S. economy continues to show resilience, positioning it to outperform other global economies in the short term.

The Fed has indicated a more cautious approach to policy easing in 2025 due to ongoing inflation concerns. Current projections suggest only two quarter-point rate cuts this year, significantly lower than the 100 basis points expected in September. Additionally, uncertainties surrounding the incoming Trump administration made investors look forward to Friday’s ISM Manufacturing Index and comments from Fed officials for further economic insights.

From a technical perspective, the first resistance level is at 1.0360, with further resistance levels at 1.0460 and 1.0520 if the price breaks above. On the downside, the initial support is at 1.0250, followed by additional support levels at 1.0220 and 1.0150.

 

[Z Forex]

Yen Analysis by zForex Research Team - 01.03.2025​

Japanese Officials Intervene as USD/JPY Edges Lower​

The USD/JPY pair traded lower, near 157.30, during Friday’s Asian session. Japanese officials' verbal intervention supported the Japanese yen (JPY). However, uncertainty surrounding the Bank of Japan's (BoJ) policy outlook could limit further gains for the JPY. Japanese markets are closed for the rest of the week, and traders are preparing for the release of the US ISM Manufacturing PMI for December later on Friday.

Last week, Japan's Finance Minister, Katsunobu Kato, reiterated concerns about the weakening yen, warning that appropriate measures would be taken to address excessive currency fluctuations. For the coming week, the BoJ will release its quarterly report on regional economic conditions, which is expected to provide an update on whether wage increases are becoming more widespread across Japan. This report could offer valuable insights ahead of the BoJ’s policy meeting on January 24.

Meanwhile, speculation that the Federal Reserve will cut interest rates more cautiously in 2025, coupled with optimism about the US economy, could support the US dollar (USD). The Fed has signaled a more measured approach to rate reductions as inflation remains above its 2% target, and the economy remains strong. Additionally, the policies of Trump are expected to stimulate growth and potentially drive inflation, which could slow the pace of future rate cuts by the Fed.

The key resistance level appears to be 158.30, with a break above it potentially targeting 160.00 and 161.00. On the downside, 154.90 is the first major support, followed by 153.40 and 152.40 if the price moves lower.

 

[Z Forex]

Daily Analysis by zForex Research Team - 01.06.2025​

Gold's Shine Fades, Euro Slumps ​

The euro fell to its lowest since 2022, pressured by ECB rate cut expectations, while the yen weakened on BoJ policy uncertainty and a strong US dollar.

Gold dipped below $2,640 as traders awaited key US economic data, with geopolitical pressures offering limited support. The pound remained near an eight-month low due to weak UK data and US dollar strength, and silver steadied at $29.60, supported by China's economic measures on global uncertainties. Key resistance and support levels highlighted crucial thresholds for traders across all assets.

 

[Z Forex]

Gold Analysis by zForex Research Team - 01.06.2025​

Economic Data and Fed Policy Outlook Drive Gold Prices​

Gold traded below $2,640 per ounce on Monday as traders awaited a series of US economic data releases this week to gauge the Federal Reserve’s approach to rate cuts. Key events included job openings, the minutes from the Fed's December meeting, and the non-farm payrolls report. Over the weekend, comments from San Francisco Fed President Mary Daly and Fed Governor Adriana Kugler reinforced expectations that the US central bank will take a more cautious stance on interest rate cuts this year. Furthermore, the economic policies of the incoming Donald Trump administration are expected to increase inflation, potentially limiting the Fed's ability to reduce rates. This could diminish the appeal of non-yielding gold. However, the precious metal continues to find support from ongoing geopolitical tensions and expectations of sustained central bank buying.

Technically, the first resistance level will be 2665 level. In case of this level’s breach, the next levels to watch would be 2695 and 2725 consequently. On the downside 2630 will be the first support level. 2620 and 2600 are the next levels to monitor if the first support level is breached.

 

[Z Forex]

GSP/USD Analysis by zForex Research Team - 01.06.2025​

Economic Worries Push Pound to 8-Month Low​

The GBP/USD pair is struggling to build on Friday's modest recovery and remains range-bound, holding above the 1.2400 level at the start of the new week. The pair is still near its lowest point since April 2024, hit last week, and appears vulnerable to extending its three-month downtrend, weighed down by a strong US dollar.

The USD Index remains near a two-year high, supported by optimism over Trump's expansionary policies and the Fed's hawkish stance. Concerns about Trump's proposed tariffs, combined with geopolitical risks from the Russia-Ukraine war and rising tensions in the Middle East, are strengthening the US dollar and creating headwinds for the GBP/USD pair.

At the same time, sentiment around the British Pound remains weak, driven by a series of disappointing data from the UK and uncertainty regarding the fiscal strategy of the newly elected Labour government. The Bank of England's dovish outlook and its decision to keep interest rates unchanged in December amid a split vote continue to pressure the GBP. As a result, the negative outlook for the GBP/USD pair remains intact, with traders awaiting the final UK Services PMI for potential new direction.

The first resistance level for the pair will be 1.2480. In case of this level's breach, the next levels to watch would be 1.2570 and 1.2600. On the downside 1.2350 will be the first support level. 1.2300 and 1.2265 are the next levels to monitor if the first support level is breached.