Platinum price succeeded in confirming its readiness to regain the bullish bias by surpassing the barrier at$2245.00, achieving some of the previously suggested extra targets by reaching $2348.00 level.
The stability of the price above $2245.00 level, attempting to form extra support level, attempting to provide extra positive momentum by the main indicators support the chances of resuming the bullish trend, to expect its rally towards $2365.00 reaching the next main target near $2465.00
The expected trading range for today is between $2250.00 and $2365.00
EUR/USD gained about 0.3% on Wednesday and snapped a two-day losing streak. The pair stays relatively quiet early Thursday and moves above 1.1800.
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Japanese Yen.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.13%
-0.40%
0.70%
-0.08%
-0.54%
-0.25%
-0.34%
EUR
0.13%
-0.25%
0.83%
0.06%
-0.42%
-0.12%
-0.19%
GBP
0.40%
0.25%
1.27%
0.31%
-0.20%
0.14%
0.08%
JPY
-0.70%
-0.83%
-1.27%
-0.77%
-1.22%
-0.89%
-1.03%
CAD
0.08%
-0.06%
-0.31%
0.77%
-0.46%
-0.12%
-0.25%
AUD
0.54%
0.42%
0.20%
1.22%
0.46%
0.31%
0.24%
NZD
0.25%
0.12%
-0.14%
0.89%
0.12%
-0.31%
-0.07%
CHF
0.34%
0.19%
-0.08%
1.03%
0.25%
-0.24%
0.07%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The risk-positive market atmosphere caused the US Dollar (USD) to lose interest midweek, allowing EUR/USD to edge higher.
Ahead of the next round of US-Iran nuclear talks in Geneva, markets adopt a cautious stance early Thursday and help the USD limit its losses. At the time of press, US stock index futures were down about 0.2% on the day.
Later in the session, European Central Bank (ECB) President Christine Lagarde will testify before European Parliament. In case Lagarde warns that further Euro strength could heighten the risks of inflation falling below target, EUR/USD could come under renewed bearish pressure.
In the second half of the day, the US Department of Labor will publish the weekly Initial Jobless Claims data. Nevertheless, market participants will keep a close eye on headlines coming out of US-Iran talks. If there is an agreement, risk flows could dominate the action in financial markets and hurt the USD. On the flip side, safe-haven flows could return in case sides fail to make a deal, reviving fears over a military conflict between the US and Iran.
EUR/USD Technical Analysis:
In the 4-hour chart, EUR/USD trades at 1.1813. The near-term bias is mildly bullish as the pair holds above the 20- and 50-period Simple Moving Averages (SMAs) while challenging the 100-period SMA near 1.1828, signalling buyers are gradually regaining control above the 200-period SMA around 1.1796. The Relative Strength Index (RSI) hovers in the mid-50s, confirming improving upside momentum rather than overbought conditions. Price action also presses against a descending resistance trend line that was broken around 1.1819, with the current consolidation just above that break area reinforcing a tentative upside tilt.
Immediate support emerges at 1.1809, aligned with the 50.0% Fibonacci retracement measured from the 1.1590 low to the 1.2027 high, followed by 1.1757 at the 61.8% retracement, where the 200-period SMA provides an additional cushion nearby. A sustained hold above these levels would keep attention on initial resistance at the 100-period SMA near 1.1828, with the 38.2% retracement at 1.1860 as the next upside barrier. A clear break above 1.1860 would open the way toward the 23.6% retracement at 1.1924, while a drop back below 1.1757 would undermine the nascent bullish setup and shift the focus toward the broader range lows.
(The technical analysis of this story was written with the help of an AI tool.)
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control.
Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency.
A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall.
Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
The GBPJPY pair resumed the bullish rally by surpassing the barrier at 110.65, activating with the main indicators’ positivity, forming strong bullish rally and achieving the second target by reaching 212.10, to face strong barrier then form quick negative rebound towards 211.45.
Note that the stability below 212.10 by stochastic exit from the overbought level might push the price to form new bearish waves, to target 210.65 level again, while its success by breaching 212.10 will open the way for recording extra gains that might begin at 212.60 and 213.10.
The expected trading range for today is between 210.65 and 212.85
Despite providing bullish momentum by stochastic, however the fluctuation below the initial barrier at $3.520 level, which pushed it to form new bearish waves, repeating the pressure on the main support at $3.000.
The current support forms detecting key for the main trend in the upcoming trading, to expect its stability to begin forming new bullish waves, motivating it to surpass $3.520 barrier, to record new gains by its rally towards $3.750 and $4.000, while breaking the support and holding below it will force it to suffer big losses, to expect reaching $2.850 and $2.660 initially.
The expected trading range for today is between $3.000 and $3.520
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Copper price activated again with the positivity of the main indicators, forming more bullish waves, approaching $5.9700 level which formed strong obstacle against confirming the continuation of the positivity in the last period.
We recommend waiting for breaching the barrier and holding above it to reinforce the chances of recording new gains, to expect forming initial target at $6.1200 level, to extend the trading towards $6.2400, while the failure of the breach will force the price to form bearish corrective wave, and there is a chance to target $5.7200 and $5.5100 level.
The expected trading range for today is between $5.8000 and $6.1200
The Pound to US Dollar (GBP/USD) exchange rate rose on Wednesday as the US Dollar weakened following market reaction to President Donald Trump’s State of the Union address.
At the time of writing, GBP/USD was trading near $1.3517, representing a gain of roughly 0.2% compared with the start of the session.
The US Dollar came under pressure midweek as investors assessed the implications of Donald Trump’s State of the Union address.
During what became the longest speech of its kind, Trump defended his administration’s economic record and strongly promoted his trade policies. He criticised the Supreme Court’s decision to overturn his earlier IEEPA tariff framework while arguing that the newly introduced global tariff structure could ultimately prove more effective.
The president also floated the idea that tariff revenues might one day offset income taxes, adding another layer of uncertainty for markets already grappling with shifting US trade policy.
Geopolitical concerns also lingered after Trump again referenced the possibility of military action against Iran, although he emphasised a diplomatic solution remained his preferred outcome.
The Pound traded with relative stability as investors adjusted their expectations for the Bank of England’s upcoming policy decision.
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Remarks from Governor Andrew Bailey a day earlier prompted markets to dial back certainty surrounding a March interest rate cut after he suggested policymakers had yet to reach a firm conclusion.
While traders still broadly anticipate monetary easing in the near term, the perception that next month’s decision is not guaranteed helped lend Sterling some underlying support.
Short-Term GBP/USD Forecast: UK Politics and US Inflation Data in Focus
Domestic political developments could inject volatility into the Pound later in the week as the Greater Manchester by-election approaches.
A disappointing outcome for Labour may reignite concerns over Prime Minister Keir Starmer’s leadership prospects, potentially weighing on investor confidence in UK assets.
At the same time, the US Dollar’s direction may hinge on the release of the latest US producer price index figures. Evidence of easing pipeline inflation could reinforce expectations that the Federal Reserve will continue loosening monetary policy, which may limit demand for the ‘Greenback’.
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Gold price (XAU/USD) trades 0.6% higher to near $5,200 during the European trading session on Wednesday. The precious metal gains as tensions between the United States (US) and Iran over Tehran’s intentions to build nuclear infrastructure and uncertainty surrounding Washington’s trade policy have improved demand for safe-haven assets.
Safe-haven assets, such as Gold, perform better in a worsening geopolitical environment.
Meanwhile, investors await nuclear talks between the US and Iran, which are scheduled for Thursday, to get cues on how the Middle East situation will shape going forward. Ahead of the meeting, US President Donald Trump has also warned of military action in Tehran if it doesn’t drop its nuclear programme plans. Trump threatened Tehran through a post on Truth.Social on Monday that it will be a very bad day for the country and its people if they don’t reach a deal.
In the US, the Supreme Court’s (SC) ruling against additional duties imposed by Washington has upended the trade policy outlook. On Friday, the SC accused President Donald Trump of exceeding his authority to back his tariff agenda by invoking economic emergency powers.
Although US President Trump has announced 10% global tariffs to offset the SC’s verdict, which could be increased to 15%, and he has also warned of steeper tariffs in case countries dishonour trade deals, investors still worry that nations could demand deal revision.
Gold technical analysis
XAU/USD trades higher to near $5,200 as of writing. The near-term bias is bullish as price continues to respect the rising support trend line from about $4,400 and holds well above the 20-day Exponential Moving Average near $5,010. The sequence of higher lows along this trend line keeps the uptrend intact despite recent volatility, while the EMA cluster under price confirms underlying demand on dips.
The 14-day Relative Strength Index (RSI) around 60.00 stays in positive territory, signaling sustained upside momentum rather than exhaustion after the earlier overbought readings have eased.
Immediate support emerges at the trend-line area around $5,120, followed by the 20-day EMA near $5,010 and then the recent reaction low at $4,880. A break below this support band would weaken the bullish structure and expose deeper retracements toward $4,750. On the upside, initial resistance sits near the recent peak at $5,240, and a daily close above this level would open the way toward the $5,380 region. As long as price holds above the EMA and the rising trend line, dips are positioned to attract buyers within the prevailing uptrend.
(The technical analysis of this story was written with the help of an AI tool.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
The USD/JPY pair finds some support near the 155.35 area on Wednesday and stalls its retracement slide from a two-week high, touched the previous day. Spot prices currently trade around the 155.75 region, nearly unchanged for the day, and look to build on the upward trajectory witnessed over the past week or so.
Despite the US Federal Reserve’s (Fed) hawkish outlook, the US Dollar (USD) meets with a fresh supply as investors remain concerned about renewed turbulence over US President Donald Trump’s trade policies. This, along with geopolitical risks, underpins demand for traditional safe-haven assets, including the Japanese Yen (JPY), and prompts some intraday selling around the USD/JPY pair.
Meanwhile, reports suggest that Japan’s Prime Minister Sanae Takaichi was apprehensive about more rate hikes in a meeting last week with the Bank of Japan (BoJ) Governor Kazuo Ueda. Moreover, the government nominated two reflationists to join the BoJ board, forcing investors to trim expectations about the speed of interest rate hikes. This caps gains for the JPY and offers some support to the USD/JPY pair.
From a technical perspective, the recent repeated rebounds from the 200-day Exponential Moving Average (EMA) breakout zone and the subsequent move up favor bullish traders. The Moving Average Convergence Divergence (MACD) line has turned higher above its signal and is now back in positive territory, suggesting improving upside momentum after a mid-month loss of traction. The Relative Strength Index around 54 stays above its midline without approaching overbought, aligning with a gradual recovery.
Immediate resistance emerges at 156.90, the recent swing high ahead of 158.40, where the latest advance stalled, and supply reasserted. A daily close above 156.90 would open the way toward 158.40, with a break there exposing the 160.00 region as the next upside objective. On the downside, initial support stands at 155.00, guarding a deeper retracement toward 153.50, where prior lows converge with the short-term consolidation base. A loss of 153.50 would weaken the bullish bias and shift focus to the 152.70 area defined by the 200-day EMA.
(The technical analysis of this story was written with the help of an AI tool.)
USD/JPY daily chart
Bank of Japan FAQs
The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%.
The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance.
The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an increasing policy divergence between the Bank of Japan and other main central banks, which opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ’s policy led to a widening differential with other currencies, dragging down the value of the Yen. This trend partly reversed in 2024, when the BoJ decided to abandon its ultra-loose policy stance.
A weaker Yen and the spike in global energy prices led to an increase in Japanese inflation, which exceeded the BoJ’s 2% target. The prospect of rising salaries in the country – a key element fuelling inflation – also contributed to the move.
