Daily Global Analysis By zForex

[Z Forex]

Daily Analysis By zForex Research Team - 03.21.2025​

Euro Slides on Tariff Warnings, Gold Near Record Highs​

The euro retreated after ECB President Christine Lagarde warned that proposed U.S. tariffs could dent eurozone growth.

Meanwhile, gold hovered near $3,030 as safe-haven demand remained strong amid rising trade tensions and geopolitical risks. The yen softened after Japan’s inflation data, while the British pound dipped following the Bank of England’s steady rate decision. Silver steadied near $33.20 as markets digested recent volatility and Fed policy outlook.

 

[Z Forex]

GBP/USD Analysis By zForex Research Team - 03.21.2025​

GBP Retreats as BoE Maintains Policy​

The pound dipped below $1.30, retreating from a four-month high after the BoE held rates at 4.5% and signaled a cautious approach to easing policy, despite recent inflation progress.

Global trade tensions added pressure, with new U.S. tariffs prompting retaliatory moves and raising inflation risks.

UK data showed weak growth, steady 4.4% unemployment, and wage growth easing to 5.8%, in line with forecasts. In the U.S., the Fed kept rates steady but reaffirmed plans for two cuts this year.

If GBP/USD breaks above 1.3050, the next resistance levels are 1.3100 and 1.3150. On the downside, support stands at 1.2860, with further levels at 1.2800 and 1.2715 if selling pressure increases.

 

[Z Forex]

Gold Analysis By zForex Research Team - 03.21.2025​

Gold Nears $3,030 on Fed Cut Hopes​

Gold hovered near $3,030 on Friday, close to record highs and heading for a third straight weekly gain. The rally is driven by dovish Fed signals and strong safe-haven demand. The Fed reaffirmed plans for two rate cuts in 2025 amid rising economic uncertainty, while Powell downplayed Trump’s proposed tariffs as temporarily inflationary but saw no urgency to cut rates.

Geopolitical tensions also supported gold, with Israel escalating operations in Gaza, Hamas striking Tel Aviv and the U.S. continuing airstrikes in Yemen. Markets are also watching the April 2 deadline for Trump’s reciprocal tariffs, fueling trade concerns. Gold is up over 15% year-to-date.

Key resistance stands at $3082, with further levels at $3100 and $3,150. Support is at $3000, followed by $2,980 and $2,916.