Daily Global Analysis By zForex

[Z Forex]

Global stocks pushed higher and the dollar weakened after reports that Iran proposed reopening the Strait of Hormuz, helping ease tensions.

Asian and emerging market equities climbed to record highs, led by strong gains in technology shares, particularly TSMC.

Brent crude holding near $108 restrained momentum in US and European futures, suggesting that while positive headlines are still driving sentiment, their impact is gradually losing strength.

 

[Z Forex]

Gold Faces Ceiling at $4,670​

Gold slipped toward $4,600 as renewed US–Iran diplomacy eased immediate tension. Still, high energy prices and persistent rate pressure continue to weigh on the metal’s outlook.

On the 4-hour chart, $4,670 remains the key resistance. Unless price breaks and holds above this level, the head and shoulders pattern stays intact, pointing to a potential move of roughly $220 toward $4,450.

Diplomacy may slow the decline, but as long as rates stay high and $4,670 caps rallies, downside risk remains consistent.

 

[Z Forex]

Silver Pressured Under $76, Eyes $69.40​

Silver continues to trade under pressure below the $75.70–76.20 resistance zone. As long as this area holds, downside risk remains in focus.

Key levels to watch:

>> $72.70 first support level
>> $72.00 next downside marker
>> $69.35–69.40 major support zone

Bias:
Failure to reclaim resistance keeps selling pressure active.

 

[Z Forex]

Growth Slows, Inflation Lingers (04.28.2026)​

The dollar index held near 98.5 as new diplomatic updates from Tehran, including a proposal to reopen the Strait of Hormuz, eased pressure on defensive demand. Attention now turns to the Federal Reserve meeting, where policy settings are expected to remain unchanged.

The US 10-year Treasury yield climbed to around 4.35%, a one-month high, as markets positioned for the Fed decision, which could be the final meeting led by Jerome Powell.

The Bank of Japan kept its policy rate at 0.75%, the highest since 1995, while raising its FY2026 inflation forecast to 2.8% and lowering the growth outlook to 0.5%.

US stock futures edged higher ahead of earnings from major firms such as UPS, General Motors, Coca-Cola, Visa, and Starbucks, with after-hours gains led by Bed Bath & Beyond and LendingClub.

The euro moved closer to 1.1720, The pound remained above $1.35, The Japanese yen strengthened to around 159 per dollar, The offshore yuan strengthened beyond 6.82 per dollar

Gold drifted down toward $4,650 per ounce, Silver traded under $75 per ounce, Bitcoin hovered near $77,122, Brent crude advanced beyond $109 per barrel, Nasdaq traded around 27,248.

Economic Calendar

Check more on zForex.com - Technical Outlook on Charts

• Inflation Gives the Euro a Pulse
• Gold Tests Lower Ground
• Tokyo Hits Pause, Yen Steady
• Sterling Finds Balance Above $1.35
• A Cooling Phase for Silver

 

[Z Forex]

China equities lag despite strong yuan​

Yuan strength is turning into an earnings headwind. Export-heavy firms are booking FX losses when converting revenue back to CNY, which is weighing on margins. At the same time, costs and geopolitics remain a drag.

On the macro side, data is still firm. Offshore yuan holds near 6.82, supported by strong industrial profits (+15.5% YoY). So the issue is not growth, it’s currency impact.

USD/CNH Technical Levels
R1: 6.8420 S1: 6.8180
R2: 6.8650 S2: 6.8000
R3: 6.8820 S3: 6.7800

 

[Z Forex]

Gold Stuck in a Tight Range​

Gold is consolidating between 4575 – 4610/15 on the hourly chart.

• Break below 4575 → downside momentum could accelerate
• No major geopolitical catalyst → range likely holds for now
• Key zone to watch: 4575 – 4610

 

[Z Forex]

Blockade Risks Affect Global Markets (04.29.2026)​

The US dollar index held near 98.6, while the 10-year Treasury yield remained around 4.35% as markets prepared for the Federal Reserve decision, widely expected to leave policy unchanged. Attention also extends to other major central banks, while persistent tension in the Middle East continues to shape rate expectations.

US stock futures moved modestly higher ahead of key earnings from Alphabet, Amazon, Meta, and Microsoft, which are set to offer insight into the strength of AI-driven investment. Some consumer and financial names advanced after results, even as earlier trading reflected caution in the technology sector.

Donald Trump instructed officials to prepare for a prolonged naval blockade of the Strait of Hormuz, targeting vessels linked to Iranian ports. Although Tehran has signaled openness to a temporary reopening of the route, the outlook points to continued disruption in energy flows and sustained pressure on global supply.

EURUSD trading near $1.17, hovering close to two week lows as geopolitical uncertainty and major economic data weigh on sentiment. The Japanese yen hovered around 159.6 per dollar, The British pound dipped toward $1.35 as geopolitical friction and domestic political tension dampened investor appetite. The offshore yuan traded near 6.83 per dollar, staying close to a multi-year high.

Gold traded under $4,600 per ounce, extending its decline after touching a one-month low. Silver held near $73 per ounce, following a steep drop as the Strait of Hormuz closure heightens global inflation fears.

Brent crude traded near $104.15, holding firm as supply uncertainty. Nasdaq 100 traded near 27,180, posting a modest daily decline after an extended rally.

Bitcoin traded around $77,000, easing after briefly climbing above $79,000.

Check more on zForex.com - Technical Outlook on Charts​

• Euro Lingers Near Lows
• Gold Slips Below $4,600
• Yen Nears 160
• Sterling Faces Double Pressure
• Silver Keeps Under Pressure

Economic Calendar​

 

[Z Forex]

Dollar Surge Pressures Euro and Metals (04.30.2026)​

U.S. equity futures pushed higher Thursday following strong results from major technology firms. Alphabet jumped 7% on robust cloud revenue, Amazon gained nearly 3%, and Microsoft advanced on accelerating Azure growth. Meta, however, fell 7% after issuing a softer spending outlook and slower user expansion. The earlier session had shown mixed performance after the Federal Reserve kept policy unchanged, while internal disagreements signaled rising uncertainty tied to geopolitical risks.

The U.S. 10-year Treasury yield held near 4.42%, close to one-month highs, after the Fed maintained rates but pointed to a firmer policy path in response to persistent inflation. Four policymakers voted against the decision, highlighting widening divisions within the committee. Markets have now removed expectations for rate cuts this year and are even pricing the possibility of a hike in 2027, as energy-driven inflation and Middle East tension continue to support yields.

Japan’s 10-year government bond yield climbed above 2.5%, reaching its highest level since 1997. The move followed rising oil prices linked to ongoing conflict in the Middle East and renewed signals from President Donald Trump that pressure on Iran will remain in place, reducing expectations for a swift resolution.

The euro fell under $1.17, The Japanese yen moved beyond the 160 threshold against the dollar. British Pound softened to around $1.35. The Chinese Yuan strengthened toward 6.84 per dollar.

Brent crude climbed beyond $112 per barrel, extending a rally of nearly 15% this week. Gold traded around $4,550, remaining close to recent lows. Silver remained near $72 as rising oil prices fueled inflation concerns

The Nasdaq 100 rose to around 27,250, recording a solid daily gain and maintaining strong performance.

Bitcoin traded at $75,696, slipping slightly from the previous session.

Economic Calendar​

Check more on zForex.com - Technical Outlook on Charts​

• Euro Hits Three-Week Low
• Gold Nears Monthly Lows
• Yen Weakens Past 160
• Pound Turns Cautious
• Silver Stalls Near Lows

 

[Z Forex]

The $12 Trillion Test: Big Tech Earnings​

Mega-cap tech just passed a major earnings check, with Alphabet, Microsoft, Amazon, and Meta representing nearly $12 trillion in market value.

The main message is clear: AI, cloud growth, ads, and capex are still driving the market.

Alphabet showed solid revenue momentum, helped by ads and Google Cloud. But investors now want more than growth. They want to see stronger margins despite heavy AI spending.

Microsoft remains one of the strongest names. Azure growth shows AI demand is already turning into real revenue, not just market hype.

Amazon looked healthier too, with better retail efficiency and improving AWS momentum. Still, guidance is key because expectations are already high.

Meta continues to grow through strong ad demand, but AI and long-term spending plans remain under close watch.

Market takeaway:
Big Tech is still the backbone of the market, but valuations leave little room for disappointment. From here, investors want growth, margin discipline, and proof that AI spending can deliver real returns.

 

[Z Forex]

BoE Holds, but the Message Isn’t Fully Dovish​

The Bank of England kept rates unchanged at 3.75%, in line with expectations. But this was not a clear dovish hold. Policymakers remain cautious, especially with energy prices, geopolitical risks and inflation pressures still creating uncertainty.

The BoE is now looking at multiple economic scenarios rather than relying on one clean forecast. The main concern is that higher energy costs could spill into wages, services inflation and broader price expectations.

One of the Bank’s risk scenarios sees inflation rising toward 6.2% in Q1 2027, while unemployment could climb near 5.7%. That shows the difficult balance: tightening too much may hurt growth, but easing too early may allow inflation to return.

For markets, the message is simple: the BoE is on hold, but not done if inflation stays sticky. GBP traders will now watch inflation, wages and growth data closely. UK assets may remain sensitive to energy headlines and central bank comments in the short term.

 

[Z Forex]

ECB kept rates unchanged as expected.​

Deposit Rate stayed at 2.00%, in line with forecasts and unchanged from the previous meeting.

Now the real focus shifts to Lagarde’s guidance:
• Inflation risks
• Energy shock impact
• Growth slowdown
• Any signal on future hikes

Decision was expected. The tone will move EURUSD