Last Updated on 07/09/2026
Silver
Silver experienced significant volatility this week, briefly dropping toward the 50-week EMA near $64 before staging a strong recovery. Despite stronger-than-expected U.S.
Non-Farm Payrolls data, which reinforced inflation concerns, silver managed to rebound sharply. The metal’s resilience in the face of hawkish economic data suggests that underlying buying demand remains strong.
Gold
Gold followed a similar path, initially declining before recovering toward the end of the week. While volatility remains elevated, the rebound indicates that bullish sentiment is still present.
The $4,500 level has emerged as a key pivot point, and a decisive break above this area could open the door for further gains. Investors appear increasingly focused on broader debt concerns rather than interest rate pressures alone.
EUR/USD
EUR/USD posted modest gains during the week amid expectations that both the European Central Bank and the Federal Reserve may raise interest rates by 25 basis points.
The pair remains on track to test the 1.17 area, a level that has repeatedly acted as an important resistance zone. Although the outlook remains cautiously bullish, confidence in a sustained euro rally is still limited.
GBP/USD
The British pound traded erratically as markets continued to reassess the outlook for U.S. monetary policy.
Support for the pound comes from the Bank of England’s relatively higher interest rates, although concerns over the UK’s energy outlook later in the year may create additional uncertainty.
NASDAQ 100
The NASDAQ 100 demonstrated impressive resilience, recovering from early-week losses and maintaining its broader upward trajectory.
Investor sentiment continues to favor buying pullbacks, supported by strong momentum and ongoing confidence in growth-oriented equities.
USD/MXN
The U.S. dollar weakened further against the Mexican peso, reinforcing the pair’s bearish trend. Market sentiment remains tilted toward additional downside, with the 16.50 level standing out as a major support zone to watch in the coming weeks.
AUD/USD
The Australian dollar ended the week higher, benefiting from expectations that the Reserve Bank of Australia will maintain a relatively hawkish stance.
At the same time, traders are increasingly pricing in the possibility of future Federal Reserve rate cuts, providing additional support for the Aussie. The currency may continue to perform well against lower-yielding alternatives such as the Swiss franc.
USD/JPY
USD/JPY recorded a sharp weekly decline, although some stabilization emerged near the lows. The 155 level remains a critical support area, and holding above it could encourage a recovery. While U.S. interest rates continue to favor the dollar, speculation surrounding potential policy normalization in Japan has increased pressure on the pair.
Leave a Reply