Last Updated on 24/08/2026
NASDAQ 100
The Nasdaq 100 ended the week lower, continuing to struggle to gain momentum above the psychologically important 30,000 level. Market participants remain cautious as uncertainty surrounding the economic outlook persists, while ongoing developments in the Middle East continue to influence investor sentiment.
Additional pressure came after reports that the U.S. Treasury plans to conduct significant buybacks of 30-year bonds next month, a move that appears to have unsettled markets in the short term. Despite the recent weakness, the broader picture remains largely unchanged. The Nasdaq 100 continues to trade within a long-term bullish trend, suggesting that the latest pullback has not yet altered the overall upward trajectory.
NZD/USD
The New Zealand dollar also posted gains during the week, but its advance is encountering strong resistance in the 0.60–0.61 zone, an area that could limit further upside in the near term.
Compared with several other Asia-Pacific currencies, the kiwi has benefited from expectations that the Reserve Bank of New Zealand (RBNZ) may maintain a relatively hawkish stance. However, the broader interest rate landscape continues to favor the United States, where yields remain comparatively attractive. As a result, the interest rate differential between the U.S. and New Zealand continues to provide underlying support for the U.S. dollar, potentially capping NZD/USD gains despite recent strength.
Gold
Gold prices rallied strongly during the week, breaking above the $4,500 level, a development that reinforces the metal’s underlying bullish momentum and highlights continued demand for safe-haven assets.
Despite the breakout, volatility is likely to remain elevated as investors navigate a complex mix of geopolitical tensions and evolving conditions in the U.S. Treasury market. These factors are expected to keep market sentiment fluid in the near term. Nevertheless, the broader outlook remains constructive, with gold continuing to trade within a well-established long-term uptrend, suggesting the recent advance may be part of a larger bullish continuation.
WTI Crude Oil
WTI crude oil remains highly volatile, with prices continuing to react sharply to developments in the Middle East. The unpredictable geopolitical situation means that any new headline could quickly trigger significant moves in the oil market.
The risk of further escalation remains a key concern, particularly given the possibility of disruptions to global oil supplies. While short-term price action is likely to remain choppy, the broader outlook for crude oil remains supported by geopolitical risk and the potential for supply constraints. Over the longer term, these factors could continue to provide upward pressure on oil prices.
DAX
The DAX remains under pressure, with investors closely monitoring concerns over Europe’s energy supply heading into the winter. Any deterioration in the energy situation could weigh on the German economy and create additional headwinds for the index.
Germany’s economy is heavily reliant on its industrial sector, making the DAX particularly sensitive to rising energy costs or potential supply disruptions. Against this backdrop, the 26,000 level remains a key area to watch, as traders assess whether the index can maintain its recent strength or face a deeper correction.
USD/JPY
The USD/JPY pair remained highly volatile, with the U.S. dollar moving sharply against the Japanese yen throughout Friday’s session and capping off another turbulent trading week.
The 160 yen level remains a significant resistance area, likely to attract considerable attention from traders. Market participants are also keeping a close eye on the possibility of Japanese authorities intervening to support the yen, although there has been relatively little discussion of intervention recently.
Meanwhile, the widening interest-rate differential between the U.S. and Japan continues to support the carry trade, potentially keeping demand for USD/JPY elevated as traders seek to benefit from the yield gap between the two currencies.
USD/MXN
The U.S. dollar continued to weaken against the Mexican peso, with the peso benefiting from its relatively attractive yield. The ongoing interest-rate differential between the two countries remains a key factor supporting demand for the Mexican currency.
However, this trend could reverse quickly if global financial conditions deteriorate or a broader financial crisis emerges, as investors may move away from higher-yielding emerging-market currencies toward traditional safe-haven assets.
For now, USD/MXN remains firmly entrenched in a strong downtrend, keeping the broader outlook bearish for the pair.
EUR/USD
The euro strengthened against the U.S. dollar this week, supported by broad-based weakness in the greenback. If the bullish momentum continues, the 1.19 level could become a longer-term target, although EUR/USD will first need to overcome resistance around 1.18.
In the event of a short-term correction, the 50-week EMA near 1.1550 remains an important potential support zone. Overall, the direction of the pair continues to be closely tied to interest-rate expectations and movements in the U.S. Treasury market, which remain key drivers of the dollar’s performance.
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