Technical Analysis By zForex

[Z Forex]

Daily Analysis by zForex Research Team - 09.05.2025​

EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback.

EUR/USD edged higher near 1.1230, supported by a weaker dollar but capped by ECB rate cut expectations. The yen slipped past 145 as a preliminary US-UK trade deal and Fed hawkishness lifted the greenback. Gold and silver both eased, with gold dipping toward $3,290 and silver trading near $32.50 on waning safe-haven demand. GBP/USD held around 1.3240 after initial gains from a BoE rate cut faded with concerns over lingering US tariffs.

EUR/USD Analysis by zForex Research Team - 09.05.2025​

Euro Nears 1.1230 on Cautious ECB​

EUR/USD edged up to 1.1230 in Friday’s Asian session, paring earlier losses caused by stronger U.S. data and easing trade tensions that supported the dollar. The euro remains under pressure as markets price in possible ECB rate cuts by June, though officials maintain confidence in inflation reaching the 2% target by year-end.
The pair faces resistance at 1.1260, with further upside capped near 1.1460 and 1.1580. On the downside, support is seen at 1.1150, followed by 1.1100 and 1.1050.

Gold Analysis by zForex Research Team - 09.05.2025​

Gold Slips Toward $3,290 on Trade Optimism​

Gold extended losses for a third day, dropping toward $3,290 as market appetite for risk improved ahead of U.S.-China trade talks. The announcement of a U.S.-UK trade deal also contributed to reduced safe-haven demand. The Fed held rates steady as expected, warning of risks to inflation and jobs but avoiding any hint of preemptive cuts. Still, gold is poised for a weekly gain.
Resistance is seen at $3,360, $3,430, and $3,500, while support holds at $3,270, $3,200, and $3,165.

 

[Z Forex]

Daily Analysis by zForex Research Team - 14.05.2025​

Soft CPI Lifts EUR, Weighs on USD
Soft U.S. inflation data weakened the dollar and lifted risk sentiment. EUR/USD climbed toward 1.1200, supported by falling U.S. CPI, while USD/JPY slipped toward 147 as the yen rebounded.

Gold dipped below $3,230 despite Fed rate cut bets, and silver retreated to mid-$31s after briefly breaching $33. GBP/USD held firm near 1.3300, steadying after tariff relief and ahead of key UK growth data.

EUR/USD Analysis by zForex Research Team - 14.05.2025​

EUR/USD at 1.1200 as Dollar Weakens on Soft CPI
EUR/USD climbed to around 1.1195 in Wednesday’s Asian session, recovering after a sharp 2.5% drop. The rebound followed underperforming U.S. CPI data for April, with annual inflation slowing to 2.3% from 2.4%, the lowest since February 2021.
Core CPI remained steady at 2.8%, in line with expectations. The softer data pressured the U.S. dollar and lifted the euro. Attention now shifts to Germany’s HICP release for fresh direction.
The pair faces resistance at 1.1260, with further upside at 1.1460 and 1.1580, while support sits at 1.1040, followed by 1.1000 and 1.0960.

Gold Analysis by zForex Research Team - 14.05.2025​

Gold Under $3,230 with Risk-On Mood
Gold edged lower to around $3,230 in Wednesday’s session, facing selling pressure after optimism over a U.S.-China trade breakthrough reduced safe-haven demand. The recent tariff agreement lifted broader market sentiment, keeping gold near its weekly lows.
However, softer U.S. inflation data raised expectations for potential Fed rate cuts, slightly supporting the non-yielding metal. Traders await a firm break below the $3,200 level for signs of deeper downside.
Gold sees resistance at $3,325, $3,360, and $3,440, while support is held at $3,235, $3,200, and $3,165.

 

[Z Forex]

Daily Analysis by zForex Research Team - 15.05.2025​

Inflation Softens and Trade Momentum Builds​

The euro regained ground near 1.1200, supported by reserve status momentum and a weaker dollar, while the Japanese yen strengthened on growing pressure to eliminate U.S. car tariffs.

Gold hovered near $3,155 after a sharp drop, weighed by improved risk appetite, and silver slipped below $31.90 despite soft inflation data aiding foreign demand. Meanwhile, GBP/USD climbed toward 1.3300, supported by easing U.S. tariffs on British goods and expectations for key UK GDP data.

EUR/USD Analysis by zForex Research Team - 15.05.2025​

Euro Rises Near 1.1200 on Reserve Status​

EUR/USD traded around 1.1200 during Thursday’s Asian session, rebounding ahead of the Eurozone’s Q1 2025 GDP report. The Euro remains supported by its rising role in global reserves, with Capital Economics noting its strongest position in years. U.S. policies under President Trump set this shift in motion, which is seen as weakening the dollar’s appeal as a popular asset. Germany’s increased fiscal spending has also lifted euro demand.

Despite ECB officials signaling more rate cuts, the Euro holds steady against a softer U.S. Dollar, which remains pressured by lingering trade uncertainty. Markets are now focused on U.S. retail sales and PPI data, while speculation grows that the U.S. might allow a weaker Dollar to aid exports.

EUR/USD faces resistance at 1.1260, with further upside near 1.1460 and 1.1580. Support begins at 1.1040, followed by 1.1000 and 1.0960.

Gold Analysis by zForex Research Team - 15.05.2025​

Risk Appetite Weighs on Gold​

Gold hovers near $3,155, attempting to stabilize after falling more than 2% the previous day. The metal trades below $3,200, pressured by improved risk appetite following U.S.-China tariff reductions and upcoming U.S. data releases, including PPI and Retail Sales.

Fed Chair Powell’s speech is also in focus, as markets seek clues on interest rate policy. While the weaker Dollar has lent gold some support, traders remain cautious ahead of potential rate-cut signals.

Key resistance is seen at $3,235, followed by $3,300 and $3,350. On the downside, support begins at $3,120, then $3,030 and $2,956.

 

[Z Forex]

Daily Analysis by zForex Research Team - 16.05.2025​

Gold and Silver Diverge as Risk Appetite Returns​

The euro advanced near $1.12 as the dollar softened, even as ECB rate cut bets remained firmly priced in. The yen strengthened for a fourth straight day despite a contraction in Japan’s Q1 GDP.

Gold hovered around $3,220, pressured by improved risk appetite. The pound climbed past $1.33 after strong UK GDP figures, while silver dipped to $32.50 amid reports of new U.S. sanctions on Chinese semiconductor firms, weakening its industrial demand outlook.

GBP/USD Analysis by zForex Research Team - 16.05.2025​

Pound Gains on Strong UK GDP​

The British pound climbed to $1.3320 on Friday after strong UK GDP data showed the economy grew 0.7% in Q1 and 1.3% year-over-year, easing pressure on the Bank of England to cut rates aggressively. While a cut is still likely, the solid growth figures suggest urgency has diminished. At the same time, a softer U.S. dollar, driven by speculation that the U.S. may be allowing depreciation to support exports, has supported sterling. However, the UK’s broader outlook remains mixed, with rising unemployment and slowing wage growth signaling uneven momentum.

GBP/USD faces resistance at 1.3350, with additional levels at 1.3450 and 1.3550. Support levels are at 1.3160, 1.3000, and 1.2960.

Silver Analysis by zForex Research Team - 16.05.2025​

Silver Retreats on Semiconductor Tensions​

Silver pulled back to around $32.50 in Friday’s Asian session, giving up part of its recent gains following reports that the U.S. plans to blacklist several Chinese semiconductor firms. Given silver’s integral role in electronics and chip manufacturing, the news weighed on sentiment.

Demand for precious metals has also weakened with easing trade tensions, as the U.S. and China agreed to reduce tariffs, cutting U.S. duties from 145% to 30% and China’s from 125% to 10%. Despite this, silver found support from a weakening U.S. dollar, which followed soft economic data reinforcing expectations for Federal Reserve rate cuts. Powell, however, warned that persistent supply shocks could complicate inflation control moving forward.

Resistance begins at $32.50, with further levels at $33.80 and $34.20. Support is seen at $31.40, followed by $30.20 and $29.80.

 

[Z Forex]

Daily Analysis by zForex Research Team - 19.05.2025​

Dollar Strengthens on Trade Deal Pause
The U.S. dollar gained traction Monday after the U.S. and China agreed to pause retaliatory tariffs for 90 days, prompting a gap lower in EUR/USD to 1.1064. Meanwhile, Moody’s downgraded the U.S. credit rating, citing fiscal concerns, sparking risk aversion and supporting safe-haven assets like gold and the yen.

Gold rebounded to $3,220, while silver hovered near $32.30. The pound climbed toward 1.3300 on weak U.S. data and firm UK GDP. Equities showed mixed sentiment amid policy and geopolitical uncertainty.

EUR/USD Analysis by zForex Research Team - 19.05.2025​

EUR/USD Falls to 1.1064 on Dollar Strength​

The EUR/USD pair started the week with a downside gap, falling to 1.1064 on Monday as the U.S. dollar gained strength. The move followed easing trade tensions between the U.S. and China, after weekend talks resulted in a joint agreement to pause retaliatory tariffs for 90 days. The U.S. committed to cutting additional tariffs on Chinese goods from 145% to 30%, while China agreed to reduce its tariffs on American imports from 125% to 10%.
The key resistance is located at 1.1260 and the first support stands at 1.1040.

USD/JPY Analysis by zForex Research Team - 19.05.2025​

Yen Strengthens as U.S. Rating Cut Sparks Risk Aversion
USD/JPY declined to around 144.80 on Monday, hitting its lowest level in over a week amid renewed selling pressure during Asian trading. The pair extended last week’s pullback from a nearly six-week high, driven by firm expectations that the Bank of Japan may raise interest rates again in 2025. Additionally, Moody’s unexpected downgrade of the U.S. sovereign credit rating to "Aa1" from "Aaa" heightened market caution. The agency cited growing national debt as the key concern, prompting risk aversion and supporting the safe-haven Japanese yen.
The key resistance is at $148.60 meanwhile the major support is located at $139.70.

 

[Z Forex]

Daily Analysis by zForex Research Team - 20.05.2025​

Risk sentiment shifted this week as Moody’s downgraded the US credit rating, weakening the dollar and supporting major currencies and commodities.

The euro climbed toward $1.13 on both the downgrade and a tentative EU-UK post-Brexit deal, while the yen held firm despite Japan’s Q1 contraction. Gold and silver retreated as hopes for a Russia-Ukraine ceasefire eased safe-haven demand. Meanwhile, the British pound rallied past $1.336, backed by strong GDP growth and optimism over new UK-EU trade cooperation. Market focus now turns to upcoming Fed speeches and trade negotiations.

EUR/USD Analysis by zForex Research Team - 20.05.2025​

US Credit Downgrade and Brexit Progress Lift Euro​

The euro approached the $1.13 mark on Tuesday, extending its rebound from the one-month low recorded on May 12. The rally followed a broad-based weakening in the US dollar after Moody’s downgraded the US credit rating from Aaa to Aa1, citing mounting government debt and widening fiscal deficits. The downgrade sparked investor concerns about long-term US economic stability and pressured dollar-denominated assets.

The EU and UK finalized a provisional agreement addressing key post-Brexit issues such as defense, fisheries, youth mobility, and security cooperation. The deal may pave the way for UK companies to participate in major EU defense projects, marking a potential turning point in EU-UK relations.

The European Central Bank is expected to initiate a rate cut in June, with additional easing possible later in the year. Despite these expectations, the euro has held firm, buoyed by both geopolitical developments and dollar weakness.

EUR/USD now faces resistance at 1.1260, with further upside barriers at 1.1460 and 1.1580. Support lies at 1.1040, followed by 1.1000 and 1.0960.

Gold Analysis by zForex Research Team - 20.05.2025​

Gold Slips with Ceasefire Hopes​

Gold declined below $3,320 per ounce as hopes for a ceasefire between Russia and Ukraine reduced the appeal of safe-haven assets. The drop followed a statement by US President Donald Trump announcing that both nations had agreed to "immediate" talks, potentially without US involvement, after a conversation with Russian President Vladimir Putin.

On Monday, gold had gained 0.6% in response to Moody’s downgrade of the US credit rating to Aa1 from Aaa, which raised concerns about long-term debt sustainability. However, with geopolitical tensions easing and investors awaiting fresh comments from Federal Reserve officials, gold reversed course.

XAU/USD now finds resistance at $3,250, with further levels at $3,300 and $3,350. On the downside, support is seen at $3,120, followed by $3,030 and $2,956.

​

 

[Z Forex]

Daily Analysis by zForex Research Team - 21.05.2025
Silver Holds Strong as Dollar Falters​

EUR/USD pushed higher toward 1.1330, lifted by a weaker dollar and cautious optimism around U.S. tariff de-escalation.

The Japanese yen gained strength, slipping USD/JPY below 144.00 as bets on a BoJ rate hike grew. Gold reclaimed ground above $3,300, fueled by renewed U.S. deficit concerns and G7 trade tensions with China. GBP/USD climbed toward 1.3400, with traders awaiting key UK inflation and PMI data, while silver hovered near $33.10.

GBP/USD Analysis by zForex Research Team - 21.05.2025
GBP/USD at 1.3400, PMI Data Awaited​

GBP/USD edged higher toward 1.3400, supported by dollar softness and cautious optimism before UK economic data. Markets are awaiting April’s CPI on Wednesday and both UK and U.S. PMI data on Thursday.

Trade developments remain a major driver of sentiment, with investors hoping the U.S. administration will scale back tariff threats, though little progress has been seen with the 90-day deadline approaching.

UK inflation is expected to rise, with monthly CPI seen at 1.1% and annual CPI reaching 3.3%, while core CPI may tick up to 3.6%. Thursday’s PMI data could further influence the pair, with modest UK strength and mixed U.S. figures forecast.
Resistance is at 1.3450, with higher levels at 1.3550 and 1.3700. Support stands at 1.3250, followed by 1.3150 and 1.3000.

Silver Analysis by zForex Research Team - 21.05.2025
Dollar Weakness Supports Silver at $33.10​

Silver hovered near $33.10 on Wednesday after a strong Tuesday rally, supported by broad dollar weakness and renewed demand for the metal. Uncertainty over U.S. trade policy, Moody’s downgrade of U.S. debt, and fiscal concerns have all contributed to the metal’s gains.
Despite easing slightly from session highs, silver maintains upside potential in the near term.
Resistance is located at $33.80, with further targets at $34.20 and $34.90. First support is found at $32.30, followed by $31.40 and $30.20.

 

[Z Forex]

Daily Analysis by zForex Research Team - 22.05.2025​

Euro and Pound Rise on U.S. Fiscal Worries
The euro and British pound extended their rallies on Thursday amid mounting concerns over the U.S. fiscal outlook, following Moody’s downgrade of the U.S. credit rating.

Gold and silver gained for the fourth and third consecutive sessions, respectively, supported by safe-haven flows and geopolitical tensions. The Japanese yen strengthened to a two-week high, while the dollar index slipped below 99.50 as investors digested tax policy risks and upcoming PMI releases.

EUR/USD Analysis by zForex Research Team - 22.05.2025​

Euro Extends Rally Ahead of PMI Data
EUR/USD trades near 1.1340 during Asian hours, close to two-week highs, extending gains for a fourth session ahead of Eurozone PMI data expected to show improved growth for May.

The U.S. dollar remains under pressure as markets await Thursday’s S&P Global PMI. Moody’s downgraded the U.S. credit rating to Aa1, matching earlier cuts by Fitch and S&P, citing rising debt, projected to reach 134% of GDP by 2035, and a nearly 9% deficit.

Trump’s tax-cut plan cleared the House Rules Committee, but the DXY still trades lower near 99.50.

The key resistance is located at 1.1390, and the first support stands at 1.1260.

USD/JPY Analysis by zForex Research Team - 22.05.2025​

JPY Hits 2-Week High as Dollar Weakens
The Japanese yen strengthened to around 143 per dollar on Thursday, its highest in over two weeks, as concerns over the U.S. fiscal outlook pressured the dollar. Fears that Trump’s proposed tax cuts could add over $3 trillion to U.S. debt weighed on investor confidence.

Japan’s Finance Minister Kato said he did not discuss currency levels with Treasury Secretary Bessent at the G7 summit.

Domestically, core machinery orders surged 13% in March, beating expectations of a 1.6% drop, while May PMI data showed continued weakness in both manufacturing and services.

 

[Z Forex]

Daily Analysis by zForex Research Team - 23.05.2025​

Euro Rebounds, Gold Holds Ground
EUR/USD rebounded near 1.1330 as Treasury yields fell and traders awaited Eurozone GDP data.

The yen strengthened while gold hovered near $3,300, supported by deficit worries and Middle East tensions. GBP/USD climbed on upbeat UK consumer and retail data, despite mixed PMIs. Meanwhile, silver stabilized above $33, supported by fiscal anxiety and strong industrial demand from renewable energy sectors in China and Europe.

EUR/USD Analysis by zForex Research Team - 23.05.2025​

EUR/USD Rebounds, Eurozone Data Eyed
EUR/USD climbed to around 1.1310 during Friday’s Asian session, rebounding as U.S. Treasury yields declined, the 30-year yield slipped from its 19-month high of 5.15%, weighing on the dollar. The recovery follows the House passing Trump’s fiscal bill, which revived deficit worries. Earlier, strong U.S. PMI figures (Composite: 52.1, Manufacturing & Services: 52.3) had briefly strengthened the dollar.

Fed Governor Waller hinted at possible rate cuts if tariffs stabilize, while Trump renewed threats of higher tariffs on the EU. On the European front, ECB officials expect inflation to return to near 2% by end-2025, though growth remains subdued. Eurozone PMIs showed services at 48.9 and manufacturing at 49.4. Focus now shifts to Germany’s GDP release.

Resistance is at 1.1390, with higher levels at 1.1460 and 1.1580. First support lies at 1.1260, followed by 1.1100 and 1.1050.

USD/JPY Analysis by zForex Research Team - 23.05.2025​

Yen Strengthens on Dollar Weakness
The Japanese yen firmed to around 143.6 per dollar, heading for a weekly gain of over 1% as inflation data came in stronger than expected. Core inflation surged to 3.5%, its highest in more than two years, while headline inflation held at 3.6%, reinforcing expectations that the BoJ may maintain its tightening stance.
The yen also benefited from continued dollar weakness tied to U.S. fiscal worries. Earlier, Japan’s Finance Minister Katsunobu Kato denied discussing exchange rates with U.S. Treasury Secretary Bessent at the G7 summit, dismissing rumors of joint currency intervention.
USD/JPY faces resistance at 148.60, with further upside levels at 149.80 and 151.20. Key support lies at 139.70, then 137.00 and 135.00.

 

[Z Forex]

Yen Analysis by zForex Research Team - 26.05.2025​

Yen Below 144.00 on Hawkish Bets
The Japanese Yen strengthened further on Wednesday, driving USD/JPY below 144.00 and marking a two-week low. Markets increasingly expect the Bank of Japan to hike rates again in 2025, spurred by recent hawkish remarks from Deputy Governor Shinichi Uchida and persistent inflation concerns. Rising U.S.-China tensions have also fueled demand.

Meanwhile, optimism around a potential U.S.-Japan trade deal adds to bullish sentiment for the yen, while the U.S. dollar remains under pressure with expectations for continued Fed rate cuts.

Resistance is located at 148.60, with further upside barriers at 149.80 and 151.20. Support is seen at 139.70, then 137.00 and 135.00.

EUR/USD Analysis by zForex Research Team - 26.05.2025​

EUR/USD Extends Recovery, Eyes 1.1330​

EUR/USD extended its rebound for a third session on Wednesday, approaching the 1.1330 level but still trading well below the recent multi-year high of 1.1575. With European newsflow muted during the G7 summit, market focus has turned to U.S. trade developments. Investors are cautiously optimistic about potential progress in talks that could deter the Trump administration from enforcing aggressive tariff plans.

However, confidence is wavering as the 90-day tariff deadline nears, and no firm trade deals have materialized despite repeated announcements.
Key resistance is seen at 1.1425, with further levels at 1.1460 and 1.1580. First support lies at 1.1260, followed by 1.1100 and 1.1050.

Yen Analysis by zForex Research Team - 26.05.2025​

Yen Below 144.00 on Hawkish Bets​

The Japanese Yen strengthened further on Wednesday, driving USD/JPY below 144.00 and marking a two-week low. Markets increasingly expect the Bank of Japan to hike rates again in 2025, spurred by recent hawkish remarks from Deputy Governor Shinichi Uchida and persistent inflation concerns. Rising U.S.-China tensions have also fueled demand.

Meanwhile, optimism around a potential U.S.-Japan trade deal adds to bullish sentiment for the yen, while the U.S. dollar remains under pressure with expectations for continued Fed rate cuts.

Resistance is located at 148.60, with further upside barriers at 149.80 and 151.20. Support is seen at 139.70, then 137.00 and 135.00.

 

[Z Forex]

Daily Analysis by zForex Research Team - 27.05.2025​

Euro at One-Month High, Fiscal Worries Hit Dollar​

EUR/USD advanced toward $1.14 as U.S. fiscal concerns weighed on the dollar, while the yen touched a one-month high on inflation surprises and risk aversion.

Gold held firm near $3,340 with geopolitical caution and budget deficit worries. The British pound rallied past $1.357 on strong retail sales and Trump’s tariff delay, and silver edged down slightly on profit-taking, despite sustained interest and increased physical demand.

Gold Analysis by zForex Research Team - 27.05.2025​

Gold Holds Near $3,340 on Trade Hopes​

Gold remained steady at nearly $3,340 per ounce on Tuesday, with demand easing slightly due to renewed trade optimism after Trump pushed back EU tariffs to July 9. The EU pledged to speed up negotiations, lifting risk sentiment. However, worries over U.S. fiscal health, global trade dynamics, and geopolitical tensions kept markets cautious. Investors now await the FOMC minutes and PCE inflation data for policy cues.

Support is seen at $3,270, while resistance is located at $3,370. Further levels include $3,150 and $3,025 below, and $3,440 and $3,500 above.

GBP/USD Analysis by zForex Research Team - 27.05.2025​

Pound Tops $1.357 on Solid Data​

GBP/USD advanced above $1.357, hitting its highest level since February 2022, as Trump’s delay of the 50% EU tariff boosted global sentiment. The pound also gained from promising April data, with retail sales rising 1.2%, marking the fourth monthly gain. Inflation stayed high at 3.5%, adding uncertainty over the BoE’s next move. Markets now price in a 50% chance of a rate cut by August, with another possible by year-end.

Support lies at 1.3425, with resistance at 1.3600. Other key levels are 1.3850 and 1.3750 above, and 1.3165 and 1.2890 below.

 

[Z Forex]

Daily Analysis by zForex Research Team - 28.05.2025​

Dollar Gains on Strong U.S. Confidence Data​

The U.S. dollar strengthened on Wednesday, supported by a sharp rebound in consumer confidence and falling Treasury yields. EUR/USD dipped to 1.1310 despite an extension of the EU tariff deadline to July 9. USD/JPY climbed above 144.5 as bond market jitters and BOJ uncertainty weighed on the yen.

EUR/USD Analysis by zForex Research Team - 28.05.2025​

EUR/USD Slips Despite EU Tariff Delay Extension
EUR/USD traded near 1.1310 in Asia on Wednesday, down for a second day as the dollar rose on lower Treasury yields and strong US data. Yields fell after Japan signaled possible cuts in debt issuance, with US 10- and 30-year yields at 4.46% and 4.97%, respectively.
The dollar gained further as May consumer confidence rose to 98.0 from 86.0. April durable goods orders dropped 6.3%, less than the expected 7.9% fall. Markets await the FOMC minutes for policy signals.
The euro found support as Trump extended the EU tariff deadline to July 9, with Brussels fast-tracking talks. Trump welcomed the move as a "positive event."
Resistance is at 1.1425, with additional levels at 1.1460 and 1.1580. Support begins at 1.1260, followed by 1.1100 and 1.1050.

Yen Analysis by zForex Research Team - 28.05.2025​

Yen Drops as BOJ Comments and Auction Worries Weigh
The Japanese yen fell beyond 144.5 per dollar on Wednesday, marking its third straight session of losses amid growing policy uncertainty and bond market shifts. Bank of Japan Governor Ueda pointed to U.S. trade negotiations as contributing to economic uncertainty, while Finance Minister Kato emphasized close monitoring of bond markets. The yen and yields declined on Tuesday following reports of a potential reduction in super-long bond issuance after weak demand at a recent 20-year auction. Markets now turn their focus to the upcoming 40-year bond sale.

Resistance stands at 148.60, with further levels at 149.80 and 151.20. Support is found at 139.70, then 137.00 and 135.00.

 

[Z Forex]

Daily Analysis by zForex Research Team - 29.05.2025​

The Market Moves as Tariff Ruling Lifts Dollar
The U.S. dollar strengthened on Thursday after a federal court blocked Trump's proposed tariffs, fueling optimism and reducing safe-haven demand. EUR/USD slipped near 1.1240 ahead of key U.S. economic data.

Gold extended its decline, falling below $3,260, while silver held steady around $33.15. The Japanese yen stabilized but remained weak amid BOJ uncertainty. GBP/USD hovered near 1.3435, supported by delayed BoE cut expectations.

Gold Analysis by zForex Research Team - 29.05.2025​

Gold Extends Decline as Safe-Haven Demand Weakens
Gold fell below $3,260 on Thursday, its fourth straight decline, as easing tariff fears reduced safe-haven demand. The drop followed a U.S. court ruling that Trump exceeded his authority in imposing tariffs, ordering their removal. The decision is expected to be appealed. Fed minutes showed a cautious stance as officials assess policy impacts, citing risks of both inflation and job losses. Meanwhile, U.S. gold exports to Switzerland surged in April after metal tariffs were lifted, shifting global trade flows.
The first critical support for gold is seen at the $3245 and the first resistance is located at $3295.

GBP/USD Analysis by zForex Research Team - 29.05.2025​

Sterling Holds Ahead of U.S. GDP
GBP/USD trades near 1.3435 on Thursday, pressured by a stronger US Dollar after a court blocked Trump’s “Liberation Day” tariffs, ruling he lacked authority to impose them. Markets now await preliminary US Q1 GDP data. Fed minutes showed rising uncertainty, with policymakers favoring a cautious, steady rate path. In the UK, food inflation rose for a fourth month, prompting Barclays to delay its rate cut forecast to February 2026, which may support the Pound.
The first critical support for gold is seen at 1.3425 and the first resistance is located at 1.3600.