Daily Global Analysis By zForex

[Z Forex]

Daily Analysis By zForex Research Team - 01.22.2025​

Trump Tariff Uncertainty Weighs on Dollar, Lifts Euro and Metals ​

The euro climbed near $1.03 after reports of a more gradual tariff plan by President Trump eased immediate inflation concerns, weighing on the dollar.

Meanwhile, the yen steadied around 155.6 as investors speculated on a possible BOJ rate hike. Gold surged past $2,750 amid safe-haven demand tied to tariff threats, while silver advanced on worries over supply constraints and ongoing dollar weakness. Traders now look to upcoming data releases and policy signals for further market direction.

 

[Z Forex]

EUR/USD Analysis By zForex Research Team - 01.22.2025​

Trump’s Tariff Plans Weigh on Dollar, Stabilizing EUR/USD​

The EUR/USD pair held near 1.0420 on Wednesday as dollar weakness persisted amid uncertainty over Trump’s tariff plans. While Trump hinted at a 10% tariff on Chinese goods and duties on European imports, a lack of specifics kept markets in limbo, contributing to a 1.2% dollar drop earlier in the week. Analysts believe Trump’s cautious tariff approach may ease inflation risks and reduce the need for aggressive Fed action, potentially extending dollar weakness. The euro remained stable as investors awaited clarity on U.S. trade policy and Fed rate decisions, likely keeping EUR/USD within a tight range for now.

From a technical perspective, the first resistance level is at 1.0430, with further resistance levels at 1.0460 and 1.0515 if the price breaks above. On the downside, the initial support is at 1.0355, followed by additional support levels at 1.0270 and 1.0225.

 

[Z Forex]

Gold Analysis By zForex Research Team - 01.22.2025​

Gold Rises Amid Trump Tariff Threats and Inflation Concerns​

Gold surged past $2,750 per ounce on Wednesday, extending a 1% gain from the previous session to hit its highest level since early November. The rise was driven by a weaker U.S. dollar and safe-haven demand amid ongoing trade war concerns. President Trump outlined potential tariffs on the EU, revisited a 10% tariff on China, and mentioned heavy levies on Canada and Mexico, fueling market anxiety. Traders also weighed inflation risks from Trump’s policies, which could prompt the Federal Reserve to maintain higher interest rates, potentially limiting gold’s appeal due to its non-yielding nature.

Technically, the first resistance level will be the 2755 level. In case of this level’s breach, the next levels to watch would be 2780 and 2800 consequently. On the downside 2660 will be the first support level. 2630 and 2600 are the next levels to monitor if the first support level is breached.

 

[Z Forex]

Daily Analysis By zForex Research Team - 01.23.2025​

Trump Policies Lift Euro, BoJ Rate Hike Weighs on Yen​

The GBP/USD remained steady at 1.2310, with traders eyeing upcoming PMI reports for direction, while silver prices paused their three-day rally at $30.60, facing headwinds from a potentially stronger US dollar.

The GBP/USD remained steady at 1.2310, with traders eyeing upcoming PMI reports for direction, while silver prices paused their three-day rally at $30.60, facing headwinds from a potentially stronger US dollar. The Japanese yen weakened to 156.5 as the Bank of Japan began its policy meeting, with expectations of a rate hike to 0.5%, the highest in 16 years. Gold surged past $2,750, driven by safe-haven demand amid escalating trade war concerns and a weaker dollar. Meanwhile, the euro reached a five-week high of $1.044, supported by optimism over President Trump's initial pro-business policies, though trade concerns lingered.

 

[Z Forex]

Euro Analysis By zForex Research Team - 01.23.2025​

Dollar Stabilizes After Trump Policies​

The euro climbed to $1.044, marking a five-week high, as markets reacted positively to President Donald Trump's decision to avoid imposing severe trade penalties early in his term. While fears of protectionist policies disrupting global growth and driving U.S. inflation had unsettled investors, Trump's initial emphasis on pro-business initiatives has strengthened market sentiment.

Concerns linger after Trump criticized the EU for being "very, very bad to us" and suggested the possibility of tariffs. In response, European Central Bank (ECB) President Christine Lagarde called on Europe to brace for potential trade actions, praising Trump’s choice to delay sweeping tariffs as a “shrewd move.” Meanwhile, the ECB is expected to maintain its accommodative monetary policy, with a 25 basis-point reduction in the deposit rate anticipated at next week’s meeting.

The first resistance level is at 1.0430, with further resistance levels at 1.0460 and 1.0515 if the price breaks above. On the downside, the initial support is at 1.0355, followed by additional support levels at 1.0270 and 1.0225.

 

[Z Forex]

Yen Analysis By zForex Research Team - 01.23.2025​

Yen Weakens as BoJ Kicks Off Policy Meeting​

The Japanese yen remained near 156.5 per dollar as the Bank of Japan commenced its two-day policy meeting. The central bank is predicted to increase its policy rate to 0.5% on Friday, marking the highest short-term borrowing cost in 16 years. BoJ Governor Ueda recently indicated that rate hikes would be considered if the economy stays strong, while Deputy Governor Himino expressed that negative real interest rates would be unusual once Japan overcomes deflationary pressures. Additionally, December data showed that Japanese exports outperformed expectations, with imports also recording growth. Globally, the yen may face downward pressure from a strengthening dollar, driven by U.S. President Donald Trump’s pro-growth, inflation-boosting policies.

The key resistance level appears to be 158.60, 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 - 01.24.2025​

Gold Prices Rise, Yen Awaits BoJ Decision​

This week, the markets saw notable movements as the EUR/USD rose near 1.0440 with the weakening Dollar Index, while gold surged above 2770 and silver held near six-week highs on rate cut hopes and safe-haven demand.
The Japanese yen remained steady at 156.5 ahead of an anticipated BoJ rate hike, and the British pound traded around 1.2400, weighed down by recession fears and a rising budget deficit, despite support from a weaker dollar.

 

[Z Forex]

Gold Analysis By zForex Research Team - 01.24.2025​

Gold Surges to October High on Rate Cut Hopes​

Gold climbed above 2770 per ounce on Friday, nearing its record high of 2790. The rise followed President Trump's call for an immediate interest rate cut, boosting gold’s appeal as a safe-haven asset. Lower interest rates make the non-yielding metal more attractive. Uncertainty over Trump’s proposed tariffs and immigration policies, along with a weaker U.S. dollar, further supported the rally.

Investors are now eyeing key policy announcements from global central banks. The BoJ is expected to raise rates on Friday, the Fed is likely to hold rates next week, and the ECB is anticipated to cut rates. Gold is set to record its fourth straight weekly gain.

Technically, resistance is at 2790, with 2800 and 2820 as potential targets if breached. Support stands at 2730, followed by 2660 and 2630 if the price declines further.

 

[Z Forex]

British Pound Analysis By zForex Research Team - 01.24.2025​

Recession Fears Pressure Pound​

The British pound is trading near 1.2400 as investors await clarity on U.S. President Donald Trump's tariff plans and express concerns about the UK’s financial outlook. According to the British Retail Consortium (BRC), consumer confidence in the British economy has reached a new low amid recession fears. Adding to the pressure, Britain’s December budget deficit exceeded expectations, with public sector net borrowing rising to £17.8 billion ($22 billion), over £10 billion higher than a year ago, increasing scrutiny on Finance Minister Rachel Reeves.

Trump has not immediately imposed tariffs on U.S. imports but is considering tariffs on Canada, Mexico, and China starting February 1, and on EU imports. Looking ahead, concerns over the UK’s economic weakness and anticipated rate cuts from the Bank of England, markets are pricing in around 65 basis points of cuts this year, pointing to a negative outlook for the pound. However, with the U.S. dollar index weakening, the GBP/USD pair is poised to end the week with gains.

Technically, the first resistance level is at 1.2430, with 1.2460 and 1.2500 as the next targets if breached. On the downside, initial support lies at 1.2265, followed by 1.2100 and 1.2080 if the pair moves lower.

 

[Z Forex]

Daily Analysis By zForex Research Team - 01.27.2025​

Tariff Tensions and Fed Outlook Drive Euro, Yen Gains, and Metal Rallies​

Global markets are reacting to renewed trade tensions and shifting expectations for central bank policies. The euro struggles against the dollar amid concerns over President Trump’s new tariffs, while the yen gains on hawkish BOJ signals and strong inflation data.

Gold extends gains above $2,770, buoyed by safe-haven demand and Fed rate cut hopes, and silver remains near six-week highs, supported by ongoing industrial needs and supply constraints. Traders now watch upcoming Fed and ECB updates, as well as trade developments, for further market direction.

 

[Z Forex]

EUR/USD Analysis By zForex Research Team - 01.27.2025​

EUR/USD Steady as Fed, PCE Inflation Data in Focus​

The EUR/USD pair trades near 1.0464 on Monday, while the US Dollar Index climbs above 107.7, recovering last week’s losses. This follows Trump’s announcement of tariffs and sanctions on Colombia, after Colombia blocked US military planes deporting migrants. The Federal Reserve is expected to keep rates unchanged this week, though Trump is pressuring for rate cuts, with a March cut still possible. Markets also await the PCE price index report, the Fed’s preferred inflation gauge.

From a technical perspective, the first resistance level is at 1.0490, with further resistance levels at 1.0515 and 1.0550 if the price breaks above. On the downside, the initial support is at 1.0355, followed by additional support levels at 1.0270 and 1.0225.

 

[Z Forex]

Gold Analysis By zForex Research Team - 01.27.2025​

Safe-Haven Demand Drives Gold to Fourth Weekly Gain​

Gold climbed above $2,770 per ounce on Friday, nearing its October high of $2,790, following President Trump's call for immediate rate cuts. Lower rates boosted gold's appeal as a non-interest-bearing asset, while uncertainty over Trump's proposed tariffs and immigration policies drove demand for safe havens. A weaker US dollar further supported gold's rise. Investors are now focused on central bank policies, with the BoJ expected to raise rates, the Fed likely holding steady, and the ECB anticipated to cut rates. Gold is on track for its fourth straight weekly gain.

Technically, the first resistance level will be 2790 level. In case of this level’s breach, the next levels to watch would be 2800 and 2820 consequently. On the downside 2730 will be the first support level. 2660 and 2630 are the next levels to monitor if the first support level is breached.

 

[Z Forex]

Daily Analysis By zForex Research Team - 01.28.2025​

Pound Gains Ground, Yen Faces Pressure from US Tariffs ​

The euro hovered near 1.05, supported by expectations of a 25-basis-point rate cut from the ECB, while the yen slipped below 155.5 per dollar, pressured by U.S. tariff threats but strengthened by the BOJ’s hawkish stance.

Gold steadied at $2,730 with Fed rate expectations and stronger dollar pressure, while silver consolidated around $30.5, balancing hopes for looser U.S. monetary policy against weak Chinese industrial demand. The British Pound neared $1.25 on UK PMI data despite potential BOE rate cuts.

 

[Z Forex]

GBP/USD Analysis By zForex Research Team - 01.28.2025​

UK Pound Strengthens on Economic Resilience​

The British Pound rose toward $1.25, nearing a three-week high, as investors focused on central bank meetings and U.S. trade policies. The Federal Reserve is expected to hold rates steady on Wednesday, while the ECB is likely to cut by 25 basis points on Thursday. In the UK, stronger-than-expected January PMI data highlighted economic resilience, though the Bank of England is still expected to cut rates by 25 basis points in February.

Meanwhile, U.S. trade tensions remain in focus after President Trump threatened tariffs on Colombia over a migrant dispute, pausing measures after Bogotá agreed to his terms. This follows recent trade actions targeting China, Canada, Mexico, and the EU.

Technically, resistance stands at 1.2460, with further levels at 1.2500 and 1.2600. Support is at 1.2420, followed by 1.2350 and 1.2265.

 

[Z Forex]

Gold Analysis By zForex Research Team - 01.28.2025​

Trump Tariffs and Fed Stance Weigh on Gold​

Gold steadied near $2,730 per ounce on Tuesday, holding its recent decline as traders awaited the start of the Federal Reserve’s two-day policy meeting later today. While the Fed is widely expected to keep interest rates unchanged, attention will be on Fed Chair Jerome Powell's remarks and the central bank’s response to President Donald Trump's calls for interest rate cuts. Gold’s appeal as an inflation hedge could weaken if Trump’s policies, perceived as inflationary, prompt the Fed to maintain elevated rates.

Further downward pressure came from a strengthening U.S. dollar, which gained following Trump’s latest tariff threats. In the previous session, gold fell 1.1% amid a broader market sell-off after Chinese AI startup DeepSeek triggered a sharp decline in tech stocks.

From a technical perspective, the first resistance level stands at $2,790, with further levels at $2,800 and $2,820 if the price moves higher. On the downside, initial support is at $2,730, followed by $2,660 and $2,630 if this level is breached.

 

[Z Forex]

Daily Analysis By zForex Research Team - 01.29.2025​

Market Volatility Rises on Fed Policy and Trump’s Tariffs​

Markets remain volatile as traders digest the Federal Reserve’s rate outlook and Trump’s expanding tariff plans. The dollar stabilizes after Trump’s latest tariff threats, while the euro hovers near $1.0440 ahead of ECB signals.

The yen strengthens as safe-haven demand rises, while gold edges higher amid inflation fears and policy uncertainty. Silver declines as industrial demand concerns resurface. With central bank policies and trade tensions in focus, upcoming PCE inflation data and Fed statements will be key drivers for market movement.

 

[Z Forex]

EUR/USD Analysis By zForex Research Team - 01.29.2025​

Fed Policy and Trump’s Rate Cut Push Keep EUR/USD in Focus​

EUR/USD trades around 1.0440, while the Dollar Index holds at 107.9 as investors await the Fed’s policy decision. The central bank is expected to keep rates unchanged, with a focus on Powell’s remarks and inflation outlook for rate cut signals.

Trump's call for immediate rate cuts adds pressure, while traders await Friday’s PCE inflation report. The dollar strengthened after Trump’s new tariff threats, with the first round against Mexico, Canada, and China set for February 1.

From a technical perspective, the first resistance level is at 1.0490, with further resistance levels at 1.0515 and 1.0550 if the price breaks above. On the downside, the initial support is at 1.0355, followed by additional support levels at 1.0270 and 1.0225.

 

[Z Forex]

Gold Analysis By zForex Research Team - 01.29.2025​

Gold Extends Gains as Trump’s Tariff Plans Fuel Market Anxiety​

Gold trades around $2,765 per ounce, extending its recovery as US tariff uncertainty increases safe-haven demand.

Trump announced tariffs on computer chips, pharmaceuticals, and steel, while the White House confirmed plans for Canada and Mexico tariffs on February 1, with China also under consideration.

Investors now await the Fed’s policy meeting, where rates are expected to remain unchanged. Higher rates typically weigh on gold, while markets also watch for the Fed’s response to Trump’s calls for rate cuts.

Technically, the first resistance level will be 2790 level. In case of this level’s breach, the next levels to watch would be 2800 and 2820 consequently. On the downside, 2730 will be the first support level. 2660 and 2630 are the next levels to monitor if the first support level is breached.

 

[Z Forex]

Daily Analysis By zForex Research Team - 01.30.2025​

Gold Holds Ground, Silver Awaits Fed Decision ​

EUR/USD edged higher but remained constrained by USD strength, with the Fed maintaining a hawkish stance while the ECB prepared for a rate cut.

The Japanese yen strengthened past 154.5 per dollar, anticipating BOJ Deputy Governor Himino’s comments following the central bank’s recent rate hike. Gold held steady at $2,760 per ounce, supported by dovish moves from other central banks despite the Fed’s firm stance on inflation.

The British pound hovered near $1.24, with traders eyeing the BoE’s potential rate cut and concerns over UK debt levels. Meanwhile, silver remained flat at $30.40 per ounce, as traders focused on the Fed’s decision and the impact of possible US tariffs on Canada, Mexico, and China.

 

[Z Forex]

GBP/USD Analysis By zForex Research Team - 01.30.2025
Pound Near $1.24, Awaiting BoE Decision​

The British pound hovered around $1.24, just below a three-week high, as traders assessed central bank decisions and the UK economic outlook. The Fed held rates steady with a cautious tone on cuts, while the ECB is expected to lower rates by 25bps, following similar moves by the BoC and Riksbank.

In the UK, the BoE is likely to cut rates by 25bps in February, though stronger data may slow the pace. Meanwhile, Finance Minister Rachel Reeves outlined growth plans, including a third Heathrow runway, while debt sustainability remains a concern.

Key resistance is at 1.2460, with further levels at 1.2500 and 1.2600. Support stands at 1.2400, followed by 1.2350 and 1.2265.