Daily Global Analysis By zForex

[Z Forex]

Daily Analysis by zForex Research Team - 07.02.2025​

Euro Climbs as Trump and Powell Drive Volatility
Markets stayed cautious midweek as the U.S. dollar continued to weaken due to fiscal worries, political pressure on the Fed, and anticipation ahead of the jobs report.

The euro traded near $1.1790, supported by expectations of Fed rate cuts. The pound rose to $1.3740 on firm signals from the BoE, while gold stayed above $3,330 amid debt concerns. The yen slipped slightly after new trade threats from Trump, and silver held steady around $36 as investors waited for key labor data.

GBP/USD Analysis by zForex Research Team - 07.02.2025​

BoE Hawkish Tone Supports GBP
The British pound rose to $1.374, as the U.S. dollar weakness continued to support sterling. Market sentiment remained cautious before Thursday’s U.S. payrolls report.
Growing concerns over the inflationary impact of Trump’s $3.3 trillion tax-and-spending bill and political pressure on the Fed eased investor confidence in the dollar, allowing GBP/USD to build on recent gains. The pound also benefited from Bank of England Governor Andrew Bailey’s comments suggesting inflation pressures persist and that policy remains restrictive for now, giving GBP/USD relative support against the dollar.
Resistance is seen at 1.3760, while support holds at 1.3620.

Gold Analysis by zForex Research Team - 07.02.2025​

Fed Caution Keeps Gold Elevated
Gold held above $3,330 per ounce with the gains of over 1% from the day before, as a weaker U.S. dollar supported prices. The Senate's approval of Trump’s massive tax-and-spending package, expected to increase national debt by $3.3 trillion, added to these concerns.
Powell stressed a patient stance on rate cuts but didn’t rule out action this month, while Treasury Secretary Scott Bessent predicted cuts by September. Markets are now focused on upcoming U.S. labor data, especially Thursday’s payroll report, for direction on the Fed’s next moves. However, fading geopolitical risks slightly softened the gold demand, as Trump announced a 60-day Gaza ceasefire agreement with Israel and issued a warning to Hamas.
Resistance is at $3,350, while support holds at $3,300.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.03.2025​

Currencies and Commodities Hold Range
Major currencies and commodities traded cautiously on Thursday as markets awaited crucial US labor data that could shape the Federal Reserve’s next move.

EUR/USD held near 1.1800 after weak ADP employment figures increased bets on rate cuts, while the Japanese yen stabilized around 143.7 amid trade optimism and dollar softness. Gold remained supported at $3,360 on hopes of further trade deals and rising geopolitical risks, and silver extended gains to $36.70, lifted by easing trade tensions.

EUR/USD Analysis by zForex Research Team - 07.03.2025​

EUR/USD Steady Near 1.1800 as Fed Cut Bets Rise
EUR/USD held steady for a second session near 1.1800 in early Thursday trading. The pair could gain momentum as the US dollar weakens on rising expectations of a Fed rate cut after ADP data disappointed.
June’s ADP Employment Change showed a surprise 33,000 drop, its first decline in over two years, well below forecasts of 95,000. May’s figure was also revised down to a 29,000 gain.
Attention now turns to the upcoming US Nonfarm Payrolls, Average Hourly Earnings, ISM Services PMI, and S&P Global US PMI.
Key levels: Resistance at 1.1830; support at 1.1730.

USD/JPY Analysis by zForex Research Team - 07.03.2025​

JPY Steadies, Trade Optimism Counters Dollar Weakness
The 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.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.04.2025​

Markets Cautious Ahead of Fed Minutes
The EUR/USD hovered near $1.177 on Monday in cautious trade as markets awaited the upcoming Fed minutes for rate cut signals, with uncertainty around U.S. trade policy weighing on sentiment.

The dollar found mild support while gold and silver slipped as improved U.S. trade talks and extended tariff exemptions reduced safe-haven demand. Meanwhile, the yen eased on weaker wage data, and the pound dipped ahead of the U.S. tariff deadline, leaving markets on edge for potential volatility as August approaches.

EUR/USD Analysis by zForex Research Team - 07.04.2025​

EUR/USD Range-Bound Ahead of Fed Minutes
EUR/USD hovered around $1.177 on Monday, staying just under last week’s peak of $1.1830, as cautious sentiment and mixed dollar moves kept the pair within a tight range. Uncertainty over U.S. trade policy and its effects on growth and inflation weighed on the dollar, lending some support to the euro. However, gains were limited as the dollar index rose to 97.071. With a light economic calendar and few Fed speakers ahead, markets are looking to Fed minutes for signals on potential rate cuts, while the ECB maintains its current stance.
Resistance for the pair is at 1.1830, while support is at 1.1730.

Gold Analysis by zForex Research Team - 07.04.2025​

Gold Weakens on U.S. Trade Talks, Fed Cut Odds Fade
Gold slipped below $3,310 per ounce on Monday, a one-week low, as safe-haven demand eased amid progress in U.S. trade talks and extended tariff exemptions. The U.S. is close to finalizing several trade deals, with updated tariff rates expected by July 9 and implementation on August 1, leaving room for continued negotiations. Meanwhile, strong U.S. jobs data reduced the chances of a Fed rate cut in July, with markets now expecting only two cuts this year. Geopolitical tensions persisted as indirect ceasefire talks between Hamas and Israel in Qatar ended without progress.
Resistance is at $3,365, while support holds at $3,300.

 

[Z Forex]

Daily Analysis by zForex Research Team - 08.04.2025​

GBP Recovers as Trump Targets 14 Nations
EUR/USD rose toward 1.1750 on stronger Eurozone retail sales and hopes for a U.S.-EU trade deal to retain a 10% tariff beyond August 1.

The Japanese yen weakened past 146 after Trump confirmed a 25% tariff on Japanese imports, despite Japan’s solid current account surplus. Gold rebounded from $3,297 to near $3,350 on trade war fears, though gains were capped by dollar strength. GBP/USD climbed to 1.3630 as Trump imposed tariffs of 25%–40% on 14 nations, delaying enforcement to August 1.

EUR/USD Analysis by zForex Research Team - 08.04.2025​

EUR/USD at 1.1750 as EU Pushes Trade Deal
EUR/USD trades around 1.1745 in Tuesday’s Asian session, supported by strong Eurozone retail sales for May. The Euro benefits as the EU aims to finalize a preliminary trade deal with the US this week, seeking to maintain a 10% tariff beyond the August 1 deadline while negotiations continue. The proposed agreement would keep the 10% base tariff but exempt sensitive sectors like aviation and alcohol, which helps lift market sentiment toward the Euro.
Eurostat data showed retail sales rose 1.8% year-on-year in May, beating expectations of 1.2% but slowing from April’s 2.7%. Monthly sales fell 0.7%, matching forecasts.
Resistance for the pair is at 1.1830, while support is at 1.1730.

USD/JPY Analysis by zForex Research Team - 08.04.2025​

Yen Falls After Trump's 25% Tariff on Japan
The 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.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.17.2025​

Dollar Firms as Inflation Risks Build
With Fed officials warning of inflationary risks from trade policies, the broader market sentiment remains policy-driven.,

The euro slipped toward 1.1620 with Brussels pausing tariff retaliation amid Trump’s sweeping 10–20% tariff plans targeting over 150 countries. The yen dropped after Japan’s June trade surplus missed forecasts, sparking recession fears. Gold retreated to $3,340 as Fed leadership speculation faded and risk appetite returned, while the pound softened despite a UK inflation surprise. Silver held firm near $38, strengthened by safe-haven demand as new U.S. tariffs loom.

EUR/USD Analysis by zForex Research Team - 07.17.2025​

Euro Slips, Brussels Stalls Retaliation
EUR/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.

Gold Analysis by zForex Research Team - 07.17.2025​

Gold Retreats with Fed Leadership Speculation
Gold fell to around $3,340 per ounce on Thursday, erasing recent gains as the U.S. dollar bounced back amid easing concerns over Powell’s role at the Fed. Trump denied reports of plans to remove Powell but reiterated criticism of rate policy.
June’s flat PPI reading hinted at subdued wholesale inflation, possibly reflecting muted economic impact from tariffs, despite the earlier CPI spike.
Meanwhile, the EU’s trade chief is in Washington for talks, and tensions with China eased following the lifting of the AI chip ban and a new trade deal with Indonesia, all reducing gold’s safe-haven demand.
Resistance is at $3,370, while support holds at $3,320.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.18.2025​

Dollar Strength Pressures Euro and Gold, Silver Rebounds
The U.S. dollar regained strength on Friday after solid retail sales and jobless claims data reduced near-term Fed rate cut expectations. The euro fell to $1.16, its lowest in nearly a month, while the pound slipped to an eight-week low near $1.339. The yen rebounded to 148 per dollar as Japan’s inflation remained elevated, fueling speculation about the Bank of Japan tightening.

Gold dipped below $3,340, on track for its first weekly decline in three weeks, while silver bounced back toward $38 amid mixed signals on Fed policy and ongoing trade tensions. Markets are watching for further developments as President Trump confirmed new tariff plans and reiterated his support for Fed Chair Powell.

EUR/USD Analysis by zForex Research Team - 07.18.2025​

EUR/USD Drops to $1.16 Amid Strong U.S. Data
The euro declined to $1.16 on Thursday, reaching its lowest level in almost a month as the U.S. dollar regained strength. The dollar’s rise followed solid U.S. inflation data and President Trump’s comments suggesting he will keep Fed Chair Jerome Powell in place, reducing expectations for near-term Fed rate cuts. Meanwhile, markets continued to monitor U.S.-EU trade negotiations ahead of the August 1 deadline.
Resistance for the pair is at 1.1670, while support is at 1.1580.

USD/JPY Analysis by zForex Research Team - 07.18.2025​

Yen Rebounds as Japan Inflation Stays Elevated
The 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.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.21.2025​

Markets Eye Tariff Deadline as Dollar Firms
The US dollar held firm on Monday as traders remained cautious ahead of the August 1 tariff deadline. EUR/USD slipped to 1.1620, while GBP/USD stayed near a two-month low after UK labor data showed a rising jobless rate.

The yen rebounded to 148.5 per dollar following Japan’s upper house election, with political uncertainty mostly priced in. Gold rose toward $3,350 on persistent tariff risks, while silver maintained its bullish momentum above $38.40, supported by safe-haven demand and industrial use expectations. Markets now focus on upcoming US CPI, PPI, and Fed policy signals.

EUR/USD Pulls Back Amid Trade Deal Uncertainty
EUR/USD edged down to 1.1620 during Monday’s Asian session, after gains in the previous session, as the US Dollar stayed firm and traders remained cautious ahead of the August 1 tariff deadline.
US Commerce Secretary Howard Lutnick said the Trump administration expects to finalize trade deals with major partners in the coming weeks, calling the next two weeks “historic.” He expressed optimism about reaching an agreement with the EU but confirmed that August 1 remains a firm deadline for new tariffs.
Resistance levels for EUR/USD are set at 1.1670, followed by 1.1700, and extend up to 1.1750. On the downside, support is found at 1.1580, with additional levels at 1.1540 and 1.1500.

Yen Recovers After Japan’s Upper House Election
The Japanese yen rose to around 148.5 per dollar on Monday, recovering some of last week’s losses after the ruling coalition lost its upper house majority. Markets had mostly priced in the result, limiting the reaction. Prime Minister Ishiba is expected to remain in office, which could ease concerns over political instability.
The opposition is likely to push for more spending and tax cuts, which could pressure the yen and lift bond yields. The election outcome comes as Tokyo continues trade talks with Washington. US Commerce Secretary Lutnick confirmed the August 1 tariff deadline but said negotiations will continue.
For the yen, resistance stands at 149.30, followed by 151.50, with the next key level at 155.00. Support is located at 147.50, with further levels at 146.15 and 145.30.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.22.2025​

Euro Holds Steady Ahead of ECB Decision, Silver Hits 13-Year High
The euro held above $1.16 on Tuesday as traders awaited the ECB’s policy decision, with rates expected to stay on hold amid tariff concerns and recent euro strength.

The yen remained firm at 147.5 after Japan’s election, while the pound climbed to $1.35 as the dollar weakened ahead of key UK data. Gold eased slightly but stayed near a five-week high, reflecting caution ahead of the August 1 US tariff deadline. Meanwhile, silver surged to $38.9, reaching a 13-year high on safe-haven demand and rate cut expectations.

GBP/USD Analysis by zForex Research Team - 07.22.2025​

Pound Climbs on Softer Dollar, Focus Shifts to UK Data
The pound climbed to $1.35 as the US dollar weakened broadly, though caution prevailed ahead of the August 1 US tariff deadline. In the UK, attention turns to upcoming flash PMI data, expected to show stronger manufacturing and strong services performance, along with a rebound in retail sales. The Bank of England may reduce long-bond sales due to soft demand. Markets still anticipate two rate cuts in 2025, despite a slight pullback in those expectations.
Resistance is at 1.3500, while support holds at 1.3380.

Gold Analysis by zForex Research Team - 07.22.2025​

Gold Slips Slightly Amid Tariff Uncertainty and Policy Watch
Gold eased to about $3,380 on Tuesday but remained close to a five-week high as traders focused on the approaching August 1 US tariff deadline. EU-US negotiations are ongoing, though the EU is readying countermeasures in case talks collapse. On the monetary side, the ECB is expected to hold rates at 2.0%, while markets await comments from Federal Reserve officials for guidance on future policy.
Resistance is at $3,400, while support holds at $3,375.

 

[Z Forex]

Daily Analysis by zForex Research Team - 07.23.2025​

US-Japan Pact Lifts Yen, Euro Waits on ECB
Gold dips as trade progress tempers demand; eyes turn to upcoming Fed meeting.

The euro held firm at $1.17 ahead of the ECB's Thursday meeting, while the yen strengthened on news of a US-Japan trade deal worth $550 billion. Gold pulled back as safe-haven demand eased, and the pound edged up to $1.35 amid a weaker dollar and cautious sentiment ahead of the August 1 tariff deadline.

EUR/USD Analysis by zForex Research Team - 07.23.2025​

Euro Steady at $1.17 as ECB Holds Fire
The euro hovered near $1.17 as traders awaited Thursday’s European Central Bank decision. With rates expected to remain steady following eight consecutive cuts, policymakers tread cautiously amid strength in the euro and lingering U.S. tariff uncertainty. Meanwhile, EU officials are preparing contingency plans in case trade negotiations with President Trump collapse before the August 1 deadline.
Resistance for the pair is at 1.1830, while support is at 1.1660.

USD/JPY Analysis by zForex Research Team - 07.23.2025​

US-Japan Deal Supports Yen
The yen held firm near 146.5 per dollar, its highest level in two weeks, after President Trump announced a trade agreement with Japan featuring 15% tariffs on exports. Japan, in turn, pledged $550 billion in U.S. investments and increased access for American goods. Prime Minister Ishiba’s lack of details and speculation about his possible resignation add further political uncertainty, especially after the coalition’s upper house defeat.
Resistance is at 147.75, with major support at 146.15.