Key takeaways JPY strength accelerates: USD/JPY fell 0.91% on 2 September and extended its decline by another 1.35% on 3 September, a move comparable with the sharp decline seen around the July US-Japan FX intervention.Fundamentals are turning more yen-supportive: US Treasury Secretary Scott Bessent’s support for decisive Japanese action, BoJ policymaker Hajime Takata’s discussion of larger or consecutive rate hikes, and renewed intervention risk have strengthened the bullish JPY narrative.200-day MA breakdown damages USD/JPY’s uptrend: The pair has broken below its 200-day MA and erased its gains since the 3 August low. Unless 158.04/50 is reclaimed, downside risk remains towards 155.03 and 153.84. In the past 40 hours, the Japanese yen has strengthened dramatically against the US dollar, a trend that began on Wednesday, 2 September 2026, when USD/JPY declined by 0.91%.
In follow-through today (Wednesday, 3 September 2026), USD/JPY has extended its losses by a further 1.35% at the time of writing (see Fig. 1).
The current decline of the USD/JPY is almost on par with the daily loss of 1.32% recorded on 31 July 2026, where Japan and the US confirmed their first joint FX intervention in around 28 years following the Japanese government’s sole intervention a day earlier on 30 July 2026, in bid to stall the steep pace of JPY weakening where USD/JPY soared to the 164 handle on 23 July 2026, its highest level in about 40 years.
Fig. 1: Daily rate of change (%) of USD/JPY with key events as of 3 Sep 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. Today’s swift decline in USD/JPY smells like FX intervention, with no clear catalyst in relevant economic data releases.
However, so far, there are no official press releases from Japan or the US confirming any form of intervention, and no “according to sources” reporting from media outlets.
What we know so far… Here are the three fundamental developments to reinforce the current bout of JPY strength:
US Treasury Secretary Scott Bessent expressed support for decisive Japanese action to address yen weakness to Bank of Japan (BoJ) Governor Ueda during the G-20 finance and central bank leaders meeting last weekend, according to a readout released by the US Treasury Department on Tuesday, 1 September 2026. This reduces the political constraint on further BoJ tightening and suggests Washington is increasingly comfortable with a stronger yen.BOJ board member Hajime Takata said policymakers should consider options beyond the conventional 25-basis-point rate increase, including larger or consecutive hikes, said in a news conference on Wednesday, 2 September 2026. While Takata remains one of the BoJ’s most hawkish members, his comments increase the risk that the central bank accelerates its tightening cycle.The speed of the yen’s appreciation placed traders on high alert for another round of intervention. Although there was no immediate confirmation of official yen buying, the threat of action creates an increasingly asymmetric risk around the psychologically important 160.00 region.Let’s now unpack the short-term trajectory (1 to 3 days) of the USD/JPY from a technical analysis perspective.
Major uptrend phase of USD/JPY has been damaged, bounce before a new drop Fig. 2: USD/JPY medium-term trend as of 3 Sep 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. Fig. 3: USD/JPY minor trend as of 3 Sep 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance. Today’s swift bearish reaction in USD/JPY comes right after the retest of a key pullback resistance level at around 160.30, a former major ascending trendline support from the 22 April 2025 low (see Fig. 2).
Today’s decline in USD/JPY has sent it below the key 200-day moving average and erased all its gains from the prior one month, since the 3 August 2026 low of 155.23 (see Fig. 2).
The current steep intraday decline in USD/JPY has pushed the hourly RSI momentum indicator into oversold territory, but there is no clear bullish divergence at this juncture (see Fig. 3).
Hence, USD/JPY may now form a potential minor dead cat bounce at the near-term support of 156.32, towards the near-term resistance of 157.30.
Watch the 158.04/50 key short-term pivotal resistance (also the 200-day moving average). If this zone is not surpassed to the upside, the odds are skewed towards a new potential bearish impulsive down-move sequence next, which could expose the next intermediate supports at 155.03 and 153.84 in the first step (see Fig. 3).
On the other hand, a clearance and an hourly close above 158.50 would invalidate the bearish scenario, triggering a squeeze up to retest the next intermediate resistance at 159.18/54 (20-day moving average) (see Fig. 3).
Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities.
Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an expert in using a unique combination of fundamental and technical analyses, specializing in Elliott Wave and fund flow positioning, to pinpoint key reversal levels in the financial markets.
In addition, over the last ten years, Kelvin has conducted numerous market outlook and trading-related seminars, as well as technical analysis training courses, for thousands of retail traders.
Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities.
Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an expert in using a unique combination of fundamental and technical analyses, specializing in Elliott Wave and fund flow positioning, to pinpoint key reversal levels in the financial markets.
In addition, over the last ten years, Kelvin has conducted numerous market outlook and trading-related seminars, as well as technical analysis training courses, for thousands of retail traders.
EUR/JPY extends steep fall into second consecutive day (down 1.3% durian Asian / European trading on Thursday), losing so far over 2%.
Fresh strength of Japanese yen was sparked by hawkish narrative of Japanese officials which points to faster pace of BOJ rate hikes against growing inflationary pressures, while analysts sidelined scenario about another intervention, after yen lost the most of gains from late July intervention.
Sharp drop that accelerated further on Thursday, has so far retraced the largest part of 179.36/186.02 recovery leg (over 61.8%), with target at 180.93 (Fibo 76.4%) being in focus.
Technical studies on daily chart turned to full bearish configuration, but oversold conditions suggest that bears may face increased headwinds.
Strong support provided by the top of ascending weekly Ichimoku cloud (181.70, which has already contained attack on early Aug) are expected to hold bears again for consolidation / limited correction.
Two large bearish daily candles weigh heavily on near-term action and contribute to scenario of positioning for fresh push lower, targeting 180 (psychological) and 179.36 Au 3 spike low).
Upticks should be ideally capped under 182.70 zone (broken Fibo 50%) to keep bears in play.
Gold (XAU/USD) is trading higher on Thursday, returning to levels above $4.400 after bouncing from three-week lows near $4,280 on Wednesday. The precious metal is drawing support from a weaker USD, as ADP employment data disappointed and New York Federal Reserve (Fed) President John Williams tamed rate hike expectations, but Fed tightening bets remain solid, and bulls are likely to face significant resistance at $4,470.
US Data released on Wednesday revealed that private employment rose 38K in August, the weakest reading since January and well below the 47K increase expected.
Apart from that, New York Federal Reserve President John Williams said that rising bond yields are due to a solid economy, rather than to inflation fears, and suggested that the central bank should “wait and see” before taking decisions on interest rates. This cooled hopes of an immediate rate hike, although futures markets are still pricing a 60% chance of a 25 basis point hike at September's meeting, according to the CME’s FedWatch Tool.
Technical Analysis: Gold bulls have significant resistance ahead
XAU/USD has bounced up from lows and is trading returning to the $4,430 area, but keeps a mildly bearish near‑term tone following an impulsive reversal from last week's highs near $4,700. Momentum indicators are in neutral territory, with the daily Relative Strength Index (14) at 52 and the Moving Average Convergence Divergence (MACD) below zero, which shows that the bullish impulse is fragile.
Gold bulls are likely to be tested at the August 31 high, near $4,470, and, above here at the key 200‑day Simple Moving Average (SMA) at $4,533, which closes the path to last week's high, at $4,690. On the downside, a break of the August 14 low in the $4,310 area confirms a "Head and Shoulders" pattern, and adds pressure towards the August 6 low of $4,220 and the late July lows near $4,000.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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.
US Dollar/Canadian Dollar (USD/CAD): Arc cycle analysis
Overview: Based on Arc Cycle Analysis applied to the 4h chart, U.S. Dollar / Canadian Dollar is trading between the 0.618 Arc and 0.786 Arc within the current Arc Cycle. Price is oscillating between these boundaries, progressing through a mid-cycle consolidation phase toward the lower Arc level.
Market outlookPrice is trading between the 0.618 Arc and the 0.786 Arc, indicating that the market is progressing through the current Arc Cycle toward the next Arc boundary. If momentum continues, the preferred scenario is continued movement toward the Target Price at 1.375.
Conversely, a sustained 4h close back above the 1.390 price would invalidate the continuation scenario and could shift the outlook toward the Previous Arc Cycle.
The Euro (EUR) extends gains against a weaker British Pound (GBP) for the fourth consecutive day on Thursday, following downward revisions of both the Eurozone and UK Services Purchasing Managers’ Index (PMI) figures. The EUR/GBP pair maintains its bid tone, with bulls targeting a previous support area a few pips above 0.8600 after rallying nearly 0.5% so far this week.
Eurozone final HCOB Services Purchasing Managers Index (PMI) figures have been revised down to 51.6 from the 51.7 previously estimated. Later on the day, the final UK S&P Global Services PMI was revised to 52.5 from preliminary estimates of 52.8.
The Euro is drawing support from the monetary policy divergence between the European Central Bank (ECB) and the Bank of England (BoE). Investors are bracing for a quarter-point ECB rate hike later this month, especially after the hawkish comments by ECB Council member and Bundesbank President Joachim Nagel. The BoE, on the contrary, is widely expected to stand pat on rates at its September 17 meeting.
Technical Analysis: Bulls have broken above a triangle pattern
EUR/GBP broke a key resistance area between 0.8580 and 0.8585 on Wednesday, which was also the top of a triangle pattern, providing fresh hopes for bulls. Momentum indicators on the 4-hour chart remain well into bullish territory, although the Relative Strength Index (14) flirts with overbought levels, a warning that the pair might pull back before rallying higher.
Bulls are likely to struggle at a previous support area, now turned resistance, between 0.8600 and 0.8610 (June 23, 25, 30 lows). Further up, the next level would be the triangle pattern's measured target, which lies around the June 29 high, in the 0.8630 area.
On the downside, immediate support is seen at the previous top near 0.8585, followed by Wednesday's low, near 0.8565, and the triangle bottom, near 0.8560.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.12%-0.04%-1.39%-0.22%-0.21%-0.16%-0.38%EUR0.12%0.08%-1.31%-0.15%-0.08%-0.10%-0.26%GBP0.04%-0.08%-1.37%-0.22%-0.16%-0.15%-0.34%JPY1.39%1.31%1.37%1.20%1.23%1.23%1.05%CAD0.22%0.15%0.22%-1.20%0.02%0.03%-0.15%AUD0.21%0.08%0.16%-1.23%-0.02%0.00%-0.14%NZD0.16%0.10%0.15%-1.23%-0.03%-0.01%-0.15%CHF0.38%0.26%0.34%-1.05%0.15%0.14%0.15% 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).
After waiting for months and years for some real JPY strength, are we really seeing it, or is it temporary?
The big move started yesterday when a Bank of Japan board member said that a 25 basis point rate increase is “not necessarily set in stone” and that back-to-back rate hikes are possible.
In today’s Market Outlook, let’s take a look at Forex trading on the Dow Jones Industrial Average, WTI Crude Oil, EURUSD, EURCAD, NZDJPY, and USDJPY.
So? We have seen many attempts at Yen strength, and we need to see if this one sticks.
It hasn’t in the past.
Meanwhile, on USD/JPY, we see an oversold stochastic oscillator and strong indications of strong bearish trends on the ADX.
Of course, this is no guarantee of a reversal to the upside, and we see key levels of support at 157 and 156 yen.
Take a look at all your JPY pairs as we see similar price action.
On NZDJPY, however, we are in a ranging market on the daily chart with clear levels of support.
Watch your technicals on all JPY pairs and the news, of course.
The BoJ will be meeting this month, 18 September, to decide on the interest rates, so expect volatility between now and then.
Yesterday, we saw the BoC keep interest rates on hold, but during the press conference there was talk of rate rises, so we saw CAD strength.
On the EURCAD daily chart, we see that we are in a ranging market with key support and a possible descending triangle.
On lower time frames, we will look for the reversal.
But watch tomorrow for Canadian Employment figures and the US Non-Farm Payrolls.
USD is still out of kilter from last week’s remarks by the new Fed chair, and we see EURUSD settling back into a downtrend that started a couple of weeks ago.
Again, check your USD and CAD charts and watch out for tomorrow’s Employment reports and NFPs.
We see a pullback in the price of oil as the White House is saying the latest campaign against Iran won’t last too long.
But, in the next breath, there was talk of further strikes.
The moral of the story is, be careful and watch your risk management.
If you are following the US indices, watch out for the NFPs tomorrow and keep an eye on the Dow Jones Industrial Average, where we see price at the lower trend line and technical signals of a potential reversal.
GBP/USD attempted to rebound from a two-week low of approximately 1.3485 on Thursday. Investors are moving away from riskier assets amid concerns about the economic impact of an energy shock triggered by a fresh escalation in the Middle East.
The market is digesting Prime Minister Andy Burnham’s address to the House of Commons. He reaffirmed the government’s commitment to fiscal discipline and reducing the debt burden. The Prime Minister also noted that bringing forward the budget submission date should help reduce speculation about future fiscal measures. Chancellor John Healy’s first major statement on the government’s programme is expected as early as next week.
Money markets continue to price in a 25-basis-point Bank of England rate hike before year-end. Those expectations have been reinforced by the recent acceleration in UK retail price inflation.
Additional pressure on GBP/USD is coming from a more hawkish stance by the Federal Reserve. Following Kevin Warsh’s hawkish comments and rising oil prices, the probability of a US rate hike in September is now estimated at approximately 66%, supporting the dollar.
Technical analysis
On the H4 GBP/USD chart, the market has nearly reached the local downside target at 1.3474 and is forming a narrow consolidation range above this level, currently extending up to 1.3510. A downside breakout would open the way for a further decline towards 1.3450. An upside breakout could lead to a correction towards 1.3520, followed by a resumption of the downtrend. The MACD indicator supports this scenario, with its signal line below zero and trending downward, indicating continued downside momentum.
On the H1 chart, the market has formed a tight consolidation range around 1.3495, extending between 1.3478 and 1.3518. A move lower towards 1.3470 is expected, and a break below this level would open the way for a further decline to 1.3450. The Stochastic oscillator supports this scenario, with its signal line below 50 and trending downward towards 20, indicating continued short-term downside pressure.
ConclusionGBP/USD is hovering near a two-week low as risk aversion prevails amid escalating Middle East tensions and a fresh energy shock. The pound has found limited support from Prime Minister Burnham’s reaffirmation of fiscal discipline, with markets awaiting Chancellor Healy’s statement on the government’s programme next week. Meanwhile, expectations of further Bank of England tightening, reinforced by rising inflation, continue to provide some underlying support. However, hawkish signals from the Federal Reserve and elevated oil prices have strengthened the dollar, putting further pressure on the pair. Technically, further downside towards 1.3450 appears likely, while a corrective move towards 1.3520 cannot be ruled out. The near-term direction will depend on US jobs data and geopolitical developments.
GBP/USD attempted to rebound from a two-week low of approximately 1.3485 on Thursday. Investors are moving away from riskier assets amid concerns about the economic impact of an energy shock triggered by a fresh escalation in the Middle East.
The market is digesting Prime Minister Andy Burnham’s address to the House of Commons. He reaffirmed the government’s commitment to fiscal discipline and reducing the debt burden. The Prime Minister also noted that bringing forward the budget submission date should help reduce speculation about future fiscal measures. Chancellor John Healy’s first major statement on the government’s programme is expected as early as next week.
Money markets continue to price in a 25-basis-point Bank of England rate hike before year-end. Those expectations have been reinforced by the recent acceleration in UK retail price inflation.
Additional pressure on GBP/USD is coming from a more hawkish stance by the Federal Reserve. Following Kevin Warsh’s hawkish comments and rising oil prices, the probability of a US rate hike in September is now estimated at approximately 66%, supporting the dollar.
Technical Analysis
On the H4 GBP/USD chart, the market has nearly reached the local downside target at 1.3474 and is forming a narrow consolidation range above this level, currently extending up to 1.3510. A downside breakout would open the way for a further decline towards 1.3450. An upside breakout could lead to a correction towards 1.3520, followed by a resumption of the downtrend. The MACD indicator supports this scenario, with its signal line below zero and trending downward, indicating continued downside momentum.
On the H1 chart, the market has formed a tight consolidation range around 1.3495, extending between 1.3478 and 1.3518. A move lower towards 1.3470 is expected, and a break below this level would open the way for a further decline to 1.3450. The Stochastic oscillator supports this scenario, with its signal line below 50 and trending downward towards 20, indicating continued short-term downside pressure.
Conclusion GBP/USD is hovering near a two-week low as risk aversion prevails amid escalating Middle East tensions and a fresh energy shock. The pound has found limited support from Prime Minister Burnham’s reaffirmation of fiscal discipline, with markets awaiting Chancellor Healy’s statement on the government’s programme next week. Meanwhile, expectations of further Bank of England tightening, reinforced by rising inflation, continue to provide some underlying support. However, hawkish signals from the Federal Reserve and elevated oil prices have strengthened the dollar, putting further pressure on the pair. Technically, further downside towards 1.3450 appears likely, while a corrective move towards 1.3520 cannot be ruled out. The near-term direction will depend on US jobs data and geopolitical developments.
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Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $65.88 per troy ounce, up 0.87% from the $65.31 it cost on Wednesday.
Silver prices have decreased by 7.32% since the beginning of the year.
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 67.35 on Thursday, up from 67.18 on Wednesday.
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
TL;DR: Silver has rebounded from 63.27 as the macro pressures behind its selloff simply stopped worsening, not reversed — leaving the 62.54–62.92 support cluster as the line that decides whether this is the start of the next leg higher or just a pause before deeper support is tested.
Silver Has Found Relief, Not Yet a New Bullish Story Silver has rebounded after sliding from 71.16 to 63.27, but recovery is not being driven by any obvious new silver-specific catalyst. Instead, two macro pressures behind selloff have simply stopped getting worse. US 10-year yield has flattened around 4.8% after its recent rise, while Brent has paused following its spike toward $97. Weak ADP employment at 38K, slowest since January, also interrupted momentum toward still more aggressive Fed pricing ahead of Friday’s NFP.
That makes latest move a pressure-easing story rather than a macro reversal. Fed is not suddenly dovish, yields have not collapsed and geopolitical risk around Iran has not disappeared. What changed is pace. And that pause arrived exactly where Silver needed it most technically.
62.54–62.92 Is Where Bull Case Must Hold Silver’s selloff stopped at 63.27, just above a particularly important support cluster. 62.54 is prior wave-four low, while 62.92 is 50% retracement of entire 54.77–71.16 advance. That makes area more than another chart level—it is where bullish interpretation of latest rally either survives or begins to break down.
As long as 62.54–62.92 holds, rise from 54.77 can still be treated as a five-wave advance, with decline from 71.16 representing correction. Break above 67.46 would strengthen that view and turn attention back toward 71.16. But a sustained break below 62.54 would challenge count and expose 60.92, the 61.8% retracement. Below there, risk of revisiting 54.77 would rise substantially.
Daily chart is also giving bulls something to work with. Silver has recovered above 55-day EMA around 64.92, keeping broader rebound structure intact for now. If 54.77 ultimately proves to be durable medium-term low, a later break of 71.16 would reopen 38.2% retracement of 121.64 to 54.77 at 80.32 at a later stage. But if price loses 55D EMA again and then breaks 62.54, argument that current weakness is merely corrective becomes much harder to defend.
Friday Decides Whether This Was a Floor or Just a Bounce That puts unusual weight on Friday’s payroll report. Consensus is around 58K, with unemployment expected at 4.1%. A weak NFP would reinforce current easing in Fed pressure, likely pull yields lower and give Silver a cleaner route through 67.46 toward 71.16. A strong report could revive hawkish repricing and force 62.54–62.92 support to prove itself again.
Iran and oil provide second live risk. If escalation pushes Brent back through $97 and toward $102–104, renewed inflation fears could pressure Silver even if Fed expectations are otherwise unchanged. Continued stabilization would make current rebound easier to sustain.
So technical question is unusually clean. Silver has reached its line in the sand. Holding 62.54–62.92 keeps five-wave recovery from 54.77 alive; losing it opens 60.92 and potentially much lower levels. NFP will tell us whether this week’s rebound is beginning of next leg higher—or simply a pause before that support is tested properly.
Key Takeaways Silver’s rebound from 63.27 reflects easing macro pressure — a flattening 10-year yield and a paused Brent rally — rather than any new bullish catalyst of its own. The 62.54–62.92 zone combines the prior wave-four low and the 50% retracement of the 54.77–71.16 advance, making it the key level for the bullish five-wave count. A break above 67.46 would strengthen the bullish case toward 71.16, while a sustained break below 62.54 exposes 60.92 and raises the risk of a retest of 54.77. Friday’s NFP (consensus 58K) is the key catalyst: a weak print supports a cleaner path higher, while a strong print would force the support cluster to prove itself again. Renewed Iran-driven oil escalation toward $102–104 is a second live risk that could pressure Silver independent of how Friday’s jobs data lands.
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.
Silver price (XAG/USD) struggles to extend Wednesday’s strong recovery move above $66.25 during the European trading session on Thursday. The white metal could remain sideways as investors await the United States (US) Nonfarm Payrolls (NFP) data for August, which will be released on Friday.
US jobs rebound seen keeping Fed on hold despite hawkish risksAccording to TD Securities, August Nonfarm Payrolls are expected to “rebound to 95k after July posted a decline of 23k,” with the firm cautioning that “risks to our payrolls forecasts appear hawkish, and we would not rule out an outsized positive surprise.” The unemployment rate is projected to have “gone sideways at 4.1% with balanced risks,” suggesting only limited change in headline labour market conditions.
Investors will pay close attention to the US NFP report as it is expected to influence market expectations for the Federal Reserve’s (Fed) monetary policy outlook.
Analysts at TD say that “a modestly hawkish employment report will reaffirm the Fed's attention on inflation, but it will be by itself unlikely to push the Committee towards hikes,” as they “continue to expect that inflation data can print modestly, allowing the Fed to keep rates on hold for now.”
According to the CME FedWatch tool, traders see a two-in-three chance that the Fed will increase interest rates in the September policy meeting.
Elsewhere, higher oil prices due to restricted energy shipments through the Strait of Hormuz, a vital passage to almost one-fifth of global energy supply, could fizzle out the recovery move in the Silver price.
Higher oil prices prompt global inflation expectations, a scenario that increases fears of interest rate hikes from central banks. Such a case bodes poorly for non-yielding assets, like Silver.
Silver Technical Analysis
In the daily chart, XAG/USD trades at $66.00. The pair holds above the 20-day Exponential Moving Average (EMA) at $65.51, keeping the near-term bias constructive as price extends its recovery from the mid-$50s area.
The Relative Strength Index (14) at 53.04 sits in neutral territory but leans higher, which suggests buyers still have the upper hand without the market being overstretched.
On the downside, immediate support is seen at the 20-day EMA at $65.51, where a deeper pullback would be expected to attract fresh demand. Looking up, the August high near $71 is expected to remain a key barrier.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Buy yen by selling USD/JPY (e.g., FX spot or USD/JPY CFD). BoJ hike odds are near-certain for Sept 18, Japan yields are already up, and the pair is technically broken (below 50/100-day EMAs after a rising wedge/bearish reversal). Expect continued grind lower toward 155.25, with momentum if NFP doesn’t re-ignite USD strength.
Key Risk: Fed hikes more than expected (or NFP is strong), widening the rate gap and forcing USD/JPY to bounce hard.
JPY carry unwind
Sell JPY carry risk via long JPY vs high-yield proxies: short USD/JPY and/or buy protection by selling JPY-funded risk (e.g., short JPY against NZD/AUD if available, or reduce exposure to JPY-funded EM/credit ETFs). The news raises the odds of a sustained BoJ tightening path, which makes carry trades less attractive and triggers forced unwinds.
Key Risk: Markets decide BoJ hikes are “one-and-done” while the Fed stays dovish, keeping the carry trade intact and limiting JPY gains.
The USD/JPY exchange rate dived to its lowest level in a month as the Japanese yen made a strong comeback. It dropped to 156.85, down over 4.40% from its year-high as investors predicted that the Bank of Japan (BoJ) will hike interest rates as soon as this month.
Markets are expecting the Bank of Japan to hike interest rates in its September 18 meeting. A Polymarket event contract has a 97.5% probability of this hike happening.
These odds have jumped after recent statements by senior BoJ officials, including Governor Kazuo Ueda and Deputy Governor Ryozo Himino. They have hinted that the bank will be comfortable implementing another rate hike as inflation has held steady this year.
The most recent data showed that the Tokyo CPI jumped 1.9% in August from 1.8% in the previous month. It has been in a steady increase since bottoming at 1.3% in May this year.
This trend will continue in the foreseeable future since the US and Japan have restarted their war. Iran carried out strikes against key US allies like Kuwait and Bahrain, leading to higher crude oil prices. Brent has jumped to over $95, while the West Texas Intermediate (WTI) has moved to $91.
Japan is highly exposed to the events in the oil market because it imports from the Middle East, including countries like Saudi Arabia, UAE, Kuwait, and Qatar. Rising oil prices mean that inflation will continue rising in the coming months.
The rising BoJ hike odds comes at a time when Japan’s bond yields have soared to the highest level in years. The ten-year yield rose to 3.03%, much higher than the year-to-date low of 2.045%.
Similarly, the 30-Year rose to 4.20% before falling to 4.068% today as the odds of BoJ rate hike rose.
The challenge for the Japanese yen, however, is that the Federal Reserve is also expected to hike interest rates in the coming meetings. Odds of the Fed hiking rates in September jumped to 60% on Polymarket.
A Fed and BoJ hike would leave the differential where it is today, making the Japanese yen a popular carry trade funding currency. A carry trade is a situation where investors borrow from a low-interest-rate currency and then invest it in a high-interest-rate one.
The next important catalyst for the USD/JPY pair is the upcoming US nonfarm payrolls data. Economists expect the economy to have added between 50k and 80k jobs in August after shedding 23k a month earlier.
USDJPY chart | Source: TradingView
The daily chart shows that the USD/JPY crashed to a low of 156, its lowest level since August 7. This retreat happened after the pair formed a rising wedge pattern, which is made up of two ascending and converging trendlines. This pattern is one of the most common bearish reversal sign in technical analysis.
The wedge was part of bearish pennant pattern, which happens after an asset makes a big dive. It has now remained below the 50-day and 100-day Exponential Moving Averages (EMA).
Therefore, the pair will likely continue falling, potentially to the key support level at 155.25. A move below that support will point to more downside.
USDJPY drops from peak The Yen (USDJPY) took a step back from its monthly rally as prices hit a firm rejection just above the 160.00 zone. A bearish RSI divergence shows a slowdown in buying momentum.
The USD/JPY currency pair dropped sharply, hitting near four-week lows after meeting resistance at the 160.00 level Heightened intervention risks from Japanese authorities, rising Bank of Japan interest rate expectations, and a mild retreat in U.S. Treasury yields drove the dollar's sell-off Analysts view the sudden dip as a healthy, risk-management correction under the shadow of intervention rather than a permanent structural trend reversal The USD/JPY currency pair has dropped two days in a row, unable to hold above the important 160.00 level. During Asian trading, the exchange rate even touched nearly four-week lows, losing its earlier upward drive.
This quick drop raises the question on whether this is a true trend reversal or just a brief technical correction.
Why the Dollar Has Lost Its Grip The US dollar is under pressure from two sources. Their combined effect is proving stronger than either factor on its own.
On the Japanese side, traders are closely watching for any signs of intervention by authorities, as rate checks often precede such action. This speculation pairs with growing expectations of Bank of Japan (BoJ) interest rate hikes, both factors strengthening the yen.
Many analysts also note the yen’s strength reflects these shifting signals from the BoJ, suggesting the market isn’t just reacting to the dollar.
The interest rate gap still holds weight. US policy rates remain higher than Japan’s, a situation that has historically backed carry-trade strategies and kept the dollar strong against the yen.
But if the BoJ tightens policy, that gap could narrow. This, combined with intervention risks, has weakened the dollar’s grip on the pair.
Is this An Impending Reversal or A Temporary Disruption? Technically, a break below intermediate moving average support levels signals more downside. Should Japanese yields keep rising while US economic data weakens, the shrinking interest rate gap might push the pair back toward 157.00. The constant threat of intervention pretty much caps any big gains past the psychologicaly important160.00 level.
However, a bullish view suggests that even after the recent sharp drop, core fundamental factors still back the US dollar.
Unless US labor market data worsens significantly or the Federal Reserve hints at steeper rate cuts, the significant yield difference between US and Japanese debt will probably keep drawing carry-trade interest. Without direct market intervention from Tokyo, buyers might step back in around key support levels.
The interplay of policy differences and intervention risks will determine if the US dollar regains its prior strength or the yen keeps its firm footing.
What caused the recent sharp drop in USD/JPY?
The USD/JPY pair took a steep dive right after touching 160.00. That happened as the Bank of Japan made some hawkish comments, and people began talking about Japanese officials possibly stepping in or checking rates.
How significant is the 160.00 level for this pair?
The 160.00 level acts as a significant psychological barrier. It’s a point that always grabs the attention of speculators and Japanese policymakers alike.
How are domestic policy expectations in Japan contributing to Japanese yen strength against the dollar?
Investors are growing more confident the Bank of Japan will hike interest rates before long. This has pushed up yield expectations, which in turn gives the yen some foundational support.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note GBP/USD extended its decline to 1.3475 before rebounding, closing at 1.3485. Intraday bias remains lower, but any weakness is seen limited to a test of 1.3465, with 1.3510 marking a shift back to range trading. Over the coming weeks, downside risk persists toward 1.3415, while the broader 1.3210–1.3655 range dominates the 1–3 month outlook.
Pound retains controlled downside bias"24-HOUR VIEW: The following are excerpts from our update yesterday, when GBP was at 1.3515: “Downward momentum is building tentatively, and today we expect GBP to trade with a downside bias, potentially testing the major support at 1.3480 (there is another support level at 1.3500). To sustain the momentum build-up, GBP must hold below 1.3545, with minor resistance at 1.3530.” GBP subsequently dropped to a low of 1.3475, rebounded to 1.3515 before closing 0.23% lower at 1.3485. Although downward momentum has slowed somewhat, the bias for GBP today remains on the downside. However, any decline is likely limited to a test of 1.3465. On the upside, a breach of 1.3510 would indicate that GBP is likely to range-trade rather than trade with a downside bias."
"1-3 WEEKS VIEW: In our most recent narrative from Monday (31 Aug, spot at 1.3540), we highlighted that “the risk for GBP remains on the downside, and the level to watch is 1.3480.” Yesterday, GBP met the technical target, dropping to a low of 1.3475. While the downside risk for GBP remains intact, there has been no clear increase in downward momentum, and it is left to be seen whether the next technical target at 1.3415 is within reach. On the upside, a breach of 1.3545 (‘strong resistance’ level previously at 1.3570) would indicate that the downward pressure from last Friday has eased."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Danske Research Team reports that EUR/USD is around the 1.16 level while European government bond yields continue to climb and US yields show a mixed pattern. Ten-year German yields are up about 50 basis points since early July, with the curve steepening, and US Treasuries have risen nearly 40 basis points, shaping the backdrop for the currency pair.
Pair holds around 1.16 level"European government bond yields continued to rise yesterday, while it was a more mixed picture in the US. 10Y German government bond yields have now risen 50bp since early July, while 10Y Treasuries have risen almost 40bp. The German curve has steepened between 2-10Y as the 2Y German bond has risen 40bp. The US curve has also steepened some 10bp. "
"The final euro area service and composite PMIs for August are released today, which we expect to confirm the flash release. The flash services PMI was unchanged at 51.7 but still came in above expectations. Tuesday's final manufacturing PMI, which makes up 35% of the final composite PMI, showed a solid rebound, with Germany in the driver's seat."
"US final services PMIs for August are due. The August flash release increased markedly for the second month in a row to the highest level since December 2024. The details pointed to solid demand, rising backlogs and firmer hiring, while output charge inflation eased to a six-month low despite still-elevated input cost pressures."
"Also in the US, the Challenger layoff report for August is released. In July, layoff announcements were at their lowest level in two years, while levels are already low from a historical perspective. AI has accounted for around one third of layoffs in recent months."
"In the US, ADP private payrolls increased by 38k in August (cons.: 48k), while the July print was revised slightly higher to 46k from 44k. Sector details were mixed: Education & Health Services, Leisure & Hospitality and Construction had higher payrolls growth than in July, while Manufacturing and Professional & Business services declined by 17k and 16k, respectively."
"The release points to softer hiring momentum ahead of Friday's official jobs report, although ADP has been a poor guide historically to the BLS private payrolls estimate."
"On the wires, Fed's Waller (voter) is expected to speak. In July, Waller mentioned that if core inflation was "hot", FOMC would need to consider tightening policy in the near-term."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Key Points:ADP employment rose by 38,000 versus 48,000 expected, reinforcing signs that U.S. hiring momentum is cooling.Friday's Nonfarm Payrolls report is now the crucial test for whether markets maintain elevated September Fed hike expectations.The ECB retains a comparatively hawkish backdrop as higher eurozone inflation keeps further tightening expectations alive.
GBP/USD
+0.13%
GBP/USD ForecastEUR/USD
+0.14%
EUR/USD ForecastUS Dollar News: Soft ADP Data Tests Fed Hike Conviction The greenback has begun the month with its momentum challenged by the more recent labor data. The August ADP report was 38,000 compared to the 48,000 report that economists expected, and also showed a loss of jobs in manufacturing as well as professional and business services. The report supports signs of cooling hiring, and was lower for Treasury yields. Even with the reports, futures still hint at a 60%–65% likelihood of a rate hike in September by the Fed. Fed Chair Kevin Warsh also kept a hawkish stance at Jackson Hole with his speech, keeping expectations of a rate hike high. Friday’s employment data will be the last big report with the potential to change expectations, and a weak report will drop the likelihood of a rate hike.
The euro still supports a firm policy with eurozone inflation reaching 3.3% in August from July’s 2.9%. This increase was largely due to the Iran conflict and the resulting energy costs. The markets have priced in the expected 25 basis point increase with the deposit rate most likely to reach 2.50% for this hike. With core inflation reaching 2.4%, a more cautious slow pace of tightening is expected, rather than a prolonged hiking period.
Sterling is facing the harder of the two domestics. Gilt yields for the ten year have reached their highest level since 2007 at 5.294% with energy costs, inflation, and fiscal concerns and spending all reaching a high prior to the October budget. The BoE is still expected to hold Bank Rate at 3.75% in September, but a 25 basis point hike is expected in the coming year at later dates.
The movement of the FX theme for September 3 is expected to be data-dependent. Soft U.S. hiring diminishes the conviction of the Fed Funds rate hike, and the ECB retains the most compelling case for forward tightening. In the meantime, fiscal stress is holding back GBP, despite higher than desired inflation.
For September 3, the FX theme appears to be increasingly data dependent. Soft U.S. hiring diminishes the conviction of the Fed Funds rate hike, and the ECB maintains the most persuasive case for front-running tightening.
U.S. Dollar Index Technical Analysis: DXY Breaks Rising Structure as 99.12 Support Comes Into Focus Dollar Index Price Chart – Source: Tradingview The U.S. Dollar Indexis currently trading at 99.23 on the 2-hour chart after dropping below the recovering channel from the August lows. What is interesting is how quickly the index was rejected at the 99.80 – 99.86 range. DXY lost 99.62, 99.48, and 99.35 very quickly, which shows how much the structure of the bullish recovery has weakened.
The first area I will be watching is 99.12, as the downwards support zone begins there. Breaking below this would expose 98.90, 98.72, and 98.56. In the opposite direction, looking at the previous support zone of 99.35 – 99.48 and adding 99.62, the resistance zone starts to form there.
RSI has dropped and begun to enter oversold territory, so a bounce in the index is possible, but I also believe that the DXY will drop furtherwhen trading below the 99.48 range. I will reverse that opinion if the index breaks above the 99.62 range, but I believe the rallies will be corrective in nature rather than a strong downtrend.
GBP/USD Technical Analysis: Sterling Bounces From 1.3477 but 1.3526 Resistance Keeps Bears in Control
GBP/USD Price Chart – Source: Tradingview Currently, GBP/USD is trading at the 1.3500 level on the 4-hour chart as price rebounds from the support zone of 1.3477. What I want to point out is that price is bouncing out of a support zone, but is below both moving averages and the 1.3526 support area which is now an area of resistance.
1.3526 is the first resistance area, followed by the resistance area of 1.3565 and 1.3601. Beyond those, resistance is expected to cluster around the area of 1.3656-1.3676. 1.3477 is the next support area, with potential support at 1.3435 and 1.3400 should 1.3477 break.
RSI is recovering from deeply oversold territory. This leads to believing that the pair may continue to climb, however, I am still bias to the below 1.3526 and 1.3565 bearish resistance zone. Should 1.3565 bullish resistance zone break, I will black a resistance call. Until then I believe this is a corrective rally in a weaker bullish short-term trend.
EUR/USD Technical Analysis: Euro Rebounds From 1.1571 but 1.1610–1.1625 Is the Real Test EUR/USD Price Chart – Source: Tradingview EUR/USD is currently trading at 1.1608. The pair has been bought aggressively on the 1.1571 support level, and what has been interesting is how quickly the pair has bounced from oversold levels. That said, the level that is currently more important is the previous support zone and the descending trendline.
The pair has bounced directly into the zone, rather than the bounce itself.
1.161–1.1625 and 1.1659 are immediate resistance level regions currently. Above 1.1659, buyers would be focused on 1.1686 and 1.1711. Sellers continue to define 1.1571 as the first major support level on the downside with 1.1547 and ultimately 1.1517.
RSI recovering in oversold territory favors the bullish scenario. I’m neutral, but I favour market bears, as long as EUR/USD is below 1.1625. A decisive close above 1.1625 would lead me to a more bearish outlook. A retest of the area around 1.1571 would also be of interest.
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Arslan is a finance MBA and also holds an MPhil degree in behavioral finance. An expert in financial analysis and investor psychology, Arslan uses his academic background to bring valuable insights about market sentiment and whether instruments are likely to be overbought or oversold.
USD/CAD extends its losses for the second consecutive day. trading around 1.3820 during the Asian hours on Thursday. The technical analysis of the daily chart indicates the pair is positioned within the descending channel pattern, signalling a bearish bias.
The USD/CAD is keeping a bearish near-term bias as spot holds below both the nine- and 50-period Exponential Moving Averages (EMAs). The short-term EMA sits just above price, reinforcing immediate topside pressure, while the longer EMA defines a broader cap on recovery attempts. The 14-day Relative Strength Index (RSI) at 40.7 stays in mildly negative territory, hinting that selling pressure persists but without reaching oversold extremes.
The USD/CAD pair may navigate the region around the descending channel bottom at 1.3640. A break below the channel would open the doors for the pair to navigate the region around 1.3481, the lowest since October 2024.
On the upside, the immediate barrier lies at the nine-day EMA of 1.3856, followed by the descending channel top near the 50-day EMA of 1.3941. A break above this confluence resistance zone would strengthen the bullish bias and support the pair to explore the region around the nearly 17-month high of 1.4248, which was recorded on June 24, 2026.
Williams flags strong economy behind higher yields, keeps Fed focus on 2% inflationFed's Williams delivers a slightly more hawkish-than-usual tone, with a 6/10 FXS Speechtracker score marginally above the 5.9/10 historical average, as rising yields are framed as a function of a strong economy and robust outlook rather than worsening inflation expectations. The emphasis that tariffs and Middle East conflict are pushing inflation above target, alongside a solid labor market and strong investment demand, is balanced by reassurance that inflation expectations are contained and the trend is toward lower inflation, keeping the policy narrative anchored around achieving 2% inflation in the foreseeable future. Overall, the message supports the view that the Fed can stay data-dependent while tolerating tighter financial conditions driven by growth rather than inflation fears.
The FXS Fed Sentiment Index slipped by 1.42 points to 127.44, indicating a modest pullback in perceived hawkishness despite the speech remaining firmly in hawkish territory above the 100 neutral line. This configuration suggests that, relative to the established baseline, markets still see the Fed as leaning toward tighter policy, but Williams' acknowledgment of easing inflation trends tempers expectations for additional aggressive action even as the Dollar stays supported by strong-growth-driven yield dynamics.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Canadian Dollar Price Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.15%-0.06%-1.22%-0.14%-0.03%-0.15%-0.46%EUR0.15%0.08%-1.09%-0.05%0.13%-0.07%-0.31%GBP0.06%-0.08%-1.16%-0.11%0.05%-0.12%-0.39%JPY1.22%1.09%1.16%1.07%1.21%1.03%0.77%CAD0.14%0.05%0.11%-1.07%0.12%-0.05%-0.30%AUD0.03%-0.13%-0.05%-1.21%-0.12%-0.17%-0.39%NZD0.15%0.07%0.12%-1.03%0.05%0.17%-0.22%CHF0.46%0.31%0.39%-0.77%0.30%0.39%0.22% 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 Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
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Gold – Chart Gold price is currently sitting just north of $4,421 as bulls regroup after a sharp rebound from $4,301. What is interesting to me is the speed of this rebound, as it occurred after the Relative Strength Index (RSI) had fallen significantly into oversold territory. I’m not treating this consolidation as a full-fledged bull reversal because price is now testing a large resistance zone of $4,422 – $4,465, a broken rising trend line, as well as a newer support zone.
Kicking off this resistance zone, we have $4,422, then $4,465, and finally $4,573. On the lower end of this range, we have a smaller demand zone of $4,369, then $4,301, and a larger demand zone of $4,263 – $4,221.
The NZD/USD pair posts modest gains around 0.5855 during the early European trading hours on Thursday, supported by stronger-than-expected Chinese economic data. Attention will shift to the US August employment data, which will be released later on Friday.
China’s services activity expanded at a faster pace in August, with the Services Purchasing Managers' Index (PMI) rising to 51.4 from 50.4 in July, RatingDog showed on Thursday. This figure came in above the market consensus of 50.6. This report provides some support to the China-proxy Kiwi, as China is a major trading partner of New Zealand.
On the other hand, Federal Reserve (Fed) Chair Kevin Warsh’s speech at the Jackson Hole symposium has bolstered expectations of a rate hike in September. Warsh said last week that recent inflation data had been moderate, but this was not enough to consider underlying inflation trends to have improved substantially. Warsh further stated that the Fed must be confident that inflation is moving toward the target level clearly and quickly enough.
His hawkish comments could underpin the Greenback and act as a headwind for the pair. The probability of a Fed rate hike in September rose to 66.1% after Warsh’s speech, according to CME Group FedWatch tool.
RBNZ lifts rates as Commerzbank highlights gradual withdrawal of stimulusAccording to analysts at Commerzbank, the Reserve Bank of New Zealand has raised the Overnight Cash Rate (OCR) by 25bp to 2.75% “as expected,” with policymakers judging that “a gradual removal of monetary stimulus was appropriate to return inflation sustainably to the target.” The bank notes that the move underscores the RBNZ’s focus on carefully normalising policy while keeping inflation anchored within its mandated range.
Technical Analysis: Rallies of NZD/USD could remain limited in the near termIn the daily chart, NZD/USD is consolidating after its recent pullback, holding just above the 100-day simple moving average (SMA) and the lower Bollinger band, which together define a tight demand zone. However, the Relative Strength Index (14) at 43.46 stays below the midline and hints at mildly bearish momentum, suggesting that rallies could remain limited while this indicator fails to recover toward 50.
On the topside, initial resistance level emerges in the 0.5900-0.5910 zone, representing the psychological level and the Bollinger middle band. A stronger supply anticipated at the upper boundary of the Bollinger Band near 0.5988.
On the downside, the immediate support level is seen at the 100-day SMA at 0.5845, followed by the lower limit of the Bollinger band at 0.5827. A clear break would open the door to the July 27 low of 0.5771.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the New Zealand economy and the country’s central bank policy. Still, there are some unique particularities that also can make NZD move. The performance of the Chinese economy tends to move the Kiwi because China is New Zealand’s biggest trading partner. Bad news for the Chinese economy likely means less New Zealand exports to the country, hitting the economy and thus its currency. Another factor moving NZD is dairy prices as the dairy industry is New Zealand’s main export. High dairy prices boost export income, contributing positively to the economy and thus to the NZD.
The Reserve Bank of New Zealand (RBNZ) aims to achieve and maintain an inflation rate between 1% and 3% over the medium term, with a focus to keep it near the 2% mid-point. To this end, the bank sets an appropriate level of interest rates. When inflation is too high, the RBNZ will increase interest rates to cool the economy, but the move will also make bond yields higher, increasing investors’ appeal to invest in the country and thus boosting NZD. On the contrary, lower interest rates tend to weaken NZD. The so-called rate differential, or how rates in New Zealand are or are expected to be compared to the ones set by the US Federal Reserve, can also play a key role in moving the NZD/USD pair.
Macroeconomic data releases in New Zealand are key to assess the state of the economy and can impact the New Zealand Dollar’s (NZD) valuation. A strong economy, based on high economic growth, low unemployment and high confidence is good for NZD. High economic growth attracts foreign investment and may encourage the Reserve Bank of New Zealand to increase interest rates, if this economic strength comes together with elevated inflation. Conversely, if economic data is weak, NZD is likely to depreciate.
The New Zealand Dollar (NZD) tends to strengthen during risk-on periods, or when investors perceive that broader market risks are low and are optimistic about growth. This tends to lead to a more favorable outlook for commodities and so-called ‘commodity currencies’ such as the Kiwi. Conversely, NZD tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.
The euro and pound continue to decline, approaching important support levels amid a stronger US dollar. Further moves in EUR/USD and GBP/USD will depend on incoming macroeconomic data, particularly developments in the US labour market.
Today, market attention will focus on economic data from Europe and the US. In the eurozone, services-sector business activity indices will be released, with weaker readings potentially keeping pressure on the euro. In the US, weekly labour-market data will be published, while additional attention will be paid to comments from Federal Reserve representative Christopher Waller. However, tomorrow’s employment report will be the key market reference point. Following the weak ADP reading, further signs of a cooling labour market could strengthen expectations of a more accommodative Fed policy and put pressure on the dollar, while stronger figures could support further dollar gains.
For the pound, domestic data and signals from the Bank of England will provide an additional point of reference. Services-sector business activity figures will be in focus, along with a speech by Bank of England Governor Andrew Bailey, whose comments could influence expectations for the central bank’s future policy.
EUR/USD As expected, EUR/USD has tested the important 1.1580–1.1620 support area. The decline has so far slowed near the upper boundary of the 1.1520–1.1560 range formed in August. Weak eurozone data could push EUR/USD further into this range. A return above 1.1620, followed by a sustained move above this level, would weaken the current bearish scenario and create conditions for a corrective recovery.
Key events for EUR/USD:
today at 10:15 (GMT+3): Spain Services Purchasing Managers’ Index (PMI); today at 10:55 (GMT+3): Germany Composite Purchasing Managers’ Index (PMI); today at 15:30 (GMT+3): US initial jobless claims.
GBP/USD GBP/USD continues to play out the bearish “tower” pattern described earlier. A sustained move below the important 1.3500 support level keeps the risk of further declines towards the 1.3400–1.3440 area. A rebound from this zone could trigger a corrective recovery, while the bearish scenario could be considered invalidated after a sustained move above 1.3560.
Key events for GBP/USD:
today at 11:30 (GMT+3): UK Services Purchasing Managers’ Index (PMI); today at 17:00 (GMT+3): US ISM Non-Manufacturing Purchasing Managers’ Index; tomorrow at 11:50 (GMT+3): speech by Bank of England Governor Andrew Bailey.
Overall, EUR/USD and GBP/USD remain in a downtrend near important support levels, although their further direction will depend on incoming macroeconomic data. Following the weak ADP report, tomorrow’s US employment report will be the key reference point. Further signs of cooling in the labour market could increase pressure on the dollar, while stronger figures could support further dollar gains and lead to continued declines in both currency pairs.
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The Pound-New Zealand Dollar rate could hold above NZ$2.30 if the Kiwi remains pressured by dovish RBNZ guidance, although cautious BoE signals may weigh on Sterling. The Pound to New Zealand Dollar (GBP/NZD) exchange rate jumped to a six-week high on Wednesday in the wake of the Reserve Bank of New Zealand’s (RBNZ) latest interest rate decision.
At the time of writing, GBP/NZD was trading at around NZ$2.3189. Up around 1.1% from the start of Wednesday's session.
Latest — Exchange Rates:
Pound to New Zealand Dollar (GBP/NZD): 2.310327 (+0.76%)
Euro to New Zealand Dollar (EUR/NZD): 1.985161 (+0.94%)
New Zealand Dollar to Dollar (NZD/USD): 0.583857 (-0.94%)
DAILY RECAP:
The New Zealand dollar (NZD) plunged on Wednesday despite the Reserve Bank of New Zealand (RBNZ) delivering another interest rate hike,
The RBNZ raised its Official Cash Rate (OCR) by 25 basis points to 2.75%, following its September policy meeting, marking its second consecutive hike after raising rates in July.
However, as the decision itself was widely anticipated, much of the subsequent market reaction centred on the RBNZ’s forward guidance.
This saw the 'Kiwi' tumble as policymakers suggested that hiking this month reduces the risk that the OCR needs to rise again later.
While able to roar higher against the New Zealand Dollar, the Pound (GBP) was left muted against most of its other peers on Wednesday.
Sterling sentiment was muted amid a continued rise in UK borrowing costs, with UK 10-year yields hitting their highest levels since 2008, while 30-year yields climbed to a 28-year high.
The rise in borrowing costs is not unique to the UK, with global bond yields surging over the past couple of days amid growing inflation concerns and expectations for further monetary tightening from central banks.
However, the rise in UK borrowing costs is particularly concerning as the government prepares to deliver its Autumn Budget next month, reducing the amount of fiscal headroom that Chancellor John Healey has to work with.
Near-Term GBP/NZD Forecast: Focus Shifts to BoE Bailey Turning to the second half of the week, the next key catalyst of movement for the Pound to New Zealand Dollar (GBP/NZD) exchange rate will be a scheduled speech by Bank of England (BoE) Governor Andrew Bailey on Friday.
Fresh global inflation concerns have recently bolstered expectations the BoE will tighten monetary policy later in the year.
However, Bailey has previously been cautious in regard to potential rate hikes, which could place significant pressure on the Pound later in the week if he strikes a similar tone.
Meanwhile, the fallout from the RBNZ's rate decision as well as global bond market jitters could see the 'Kiwi' languish through the latter half of the week.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
The USD/JPY pair remains under intense selling pressure for the second straight day and plummets to a nearly four-week low, around the 157.25-157.20 region during the early European session on Thursday.
Traders remain on high alert amid speculation that authorities had conducted a rate check, which signals the possibility of an intervention to support the Japanese Yen (JPY). Furthermore, more hawkish repricing of Bank of Japan (BoJ) rate hike expectations provides a strong boost to the JPY. This, along with a broadly weaker US Dollar (USD), is seen exerting downward pressure on the USD/JPY pair.
From a technical perspective, Wednesday's failed attempt to conquer the 200-period Simple Moving Average (SMA) on the 4-hour chart and the subsequent decline favor bearish traders. Moreover, the Moving Average Convergence Divergence (MACD) indicator is negative, while the Relative Strength Index (RSI) sits in oversold territory, suggesting persistent downside pressure on the USD/JPY pair.
Hence, some follow-through weakness below the 157.00 mark, towards testing the 156.60-156.50 horizontal support, looks like a distinct possibility. The downward trajectory could extend further toward challenging the August monthly swing low, around the 155.25-155.20 region, with some intermediate support near the 156.00 round figure.
On the topside, any attempted recovery is likely to attract fresh sellers near 158.00, which should cap the USD/JPY pair near the 158.40-158.50 pivotal resistance. The momentum might then lift spot prices beyond 159.00, towards the 200-period SMA, around the 160.00 psychological mark. Acceptance above the latter would be needed to ease the current bearish bias and signal a more sustainable rebound.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
USD/JPY 4-hour chart
Japanese Yen Price This week The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.20%0.33%-1.73%-0.60%-0.09%1.17%0.16%EUR0.20%0.53%-1.52%-0.41%0.10%1.32%0.38%GBP-0.33%-0.53%-2.14%-0.93%-0.43%0.79%-0.24%JPY1.73%1.52%2.14%1.07%1.66%2.83%1.82%CAD0.60%0.41%0.93%-1.07%0.52%1.75%0.70%AUD0.09%-0.10%0.43%-1.66%-0.52%1.22%0.19%NZD-1.17%-1.32%-0.79%-2.83%-1.75%-1.22%-1.02%CHF-0.16%-0.38%0.24%-1.82%-0.70%-0.19%1.02% 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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
NZDCAD currency pair recently reversed from the resistance zone between the multi-month resistance level 0.8258 (which has been reversing the price from February) and the upper daily Bollinger Band.
The downward reversal from this resistance started active minor ABC correction ii which just broke the key support level 0.8120 – that stopped earlier wave iv, b and 2.
NZDCAD currency pair can be expected to fall further to support level 0.8050 (low of the previous minor correction ii).
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United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has shifted into short-term range trading between 1.1570 and 1.1610 after a dip to 1.1565 and rebound to 1.1608. They still see scope for a test of 1.1550 unless 1.1630 strong resistance breaks. On a 1–3 month view, a prior decisive upside break keeps medium-term targets at 1.1800 and 1.1850 in focus.
Euro holds range with bearish bias"24-HOUR VIEW: On Tuesday, EUR fell from 1.1624 to 1.1583, settling at 1.1592 (-0.21%). When EUR was at 1.1590 yesterday, we indicated that “while there is room for EUR to dip below Monday’s low of 1.1573, major support at 1.1550 is likely out of reach.” We noted that “resistance is at 1.1605, followed by 1.1620.” We were not wrong, as EUR dipped to a low of 1.1565. However, it subsequently rebounded strongly to 1.1608 before easing to close largely unchanged at 1.1587 (-0.04%). EUR has likely entered a range-trading phase and is expected to trade between 1.1570 and 1.1610 today."
"1-3 WEEKS VIEW: After EUR fell sharply last Friday, in our most recent narrative from Monday (31 Aug, spot at 1.1585), we highlighted that “the rapid increase in downward momentum suggests EUR could decline further.” We also highlighted that “the major support at 1.1550 may not come into view so soon.” Yesterday, EUR dipped to 1.1565 before rebounding. While there has been no further increase in downward momentum, there is still a chance for EUR to decline to 1.1550. Overall, only a breach of 1.1630 (‘strong resistance’ level previously at 1.1640) would indicate that EUR is not declining further."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
The GBP/USD pair trades in positive territory around 1.3490 during the early European trading hours on Thursday, bolstered by a weaker US Dollar (USD). Traders await the Bank of England (BoE) Governor Andrew Bailey’s speech and US August jobs data later on Friday for fresh impetus.
Federal Reserve (Fed) Chair Kevin Warsh delivered unexpectedly hawkish remarks at the Jackson Hole meeting last week, boosting market expectations for a rate hike next month. Warsh pledged to return inflation to the 2% target and indicated rates could rise further.
“The emphasis on inflation risks, together with Warsh’s explicit commitment to achieving price stability and his reluctance to pre-commit to future policy actions, reinforces the elevated risks of policy tightening this year, although it could also be the case of talking without action, said UOB analysts.
On the UK’s front, BoE policymaker Catherine Mann said that the UK economy had shown signs of stronger growth since the last monetary policy meeting. Mann added that the labour market had stabilised and inflation had been a little stronger than expected.
Financial markets on Tuesday were fully pricing a BoE rate hike by the end of the year but only around 15% odds of a rate increase at the September policy meeting, according to Reuters.
Pound sentiment steady as UK politics offer few fresh cuesStrategists at Scotiabank note that the domestic political backdrop remains quiet, with “political developments… equally limited, offering little to market participants in search of domestic drivers.” They “continue to highlight the importance of sentiment – specifically, politically-related sentiment – in driving the recent strength in the Pound following the arrival of PM Burnham in late June,” even as the current lack of new policy signals leaves investors with fewer fresh catalysts to trade on.
Technical Analysis: GBP/USD retains a mildly bullish tone above the 100-day SMAIn the daily chart, GBP/USD maintains a mildly bullish near-term bias as it holds above the 100-day Simple Moving Average (SMA) and the lower Bollinger band, suggesting underlying demand on dips. However, price remains capped beneath the Bollinger middle band, while the latest 14-day Relative Strength Index at 46.8 points to subdued momentum rather than a strong trending move.
On the topside, initial resistance is located at the Bollinger middle band at 1.3550. A stronger barrier is seen at the May 8 high of 1.3637, en route to the upper Bollinger band near 1.3665.
On the downside, the key support level to watch emerges at the 100-day SMA and the lower Bollinger band of 1.3440, forming a tight demand zone that would need to give way to signal a deeper corrective phase. A decisive break below this level could expose the July 13 low of 1.3342.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling 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, its currency will benefit 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.
Pound-Euro could recover if stronger UK services data supports Sterling, although rising borrowing costs and firmer ECB rate expectations remain key risks. The Pound Euro (GBP/EUR) exchange rate fell to a near two-week low on Wednesday as UK government bond yields rose to a 19-year high.
At the time of writing, GBP/EUR was trading at €1.1648, its lowest level in 13 days.
Latest — Exchange Rates:
Pound to Euro (GBP/EUR): 1.1641 (-0.15%)
Pound to Dollar (GBP/USD): 1.3489 (-0.18%)
Euro to Dollar (EUR/USD): 1.158749 (-0.03%)
DAILY RECAP:
The Pound (GBP) was subdued on Wednesday as a lack of UK economic data left Sterling without much support.
Concerns about rising government borrowing costs saw GBP struggle against some of its stronger peers. British gilt yields rose again on Wednesday, hitting their highest level since August 2007.
This raised concerns about how higher borrowing costs could constrain the UK economy and prompt tighter fiscal policy from the British government.
Meanwhile, the safer Euro (EUR) attracted some support against the increasingly risk-sensitive Pound amid a risk-off market mood.
However, the common currency’s upside potential was limited by a lack of Eurozone economic data and geopolitical concerns.
EU politicians were preparing a response after Germany formally attributed the drone attack on Leipzig airport last month to Russia, stoking fears about rising tensions between Brussels and Moscow.
Near-Term GBP/EUR Forecast: PMIs to Support the Pound? Looking forward, the final Eurozone and UK services PMIs are due out on Thursday morning, potentially impacting the Pound to Euro exchange rate.
If the data confirms that activity in the British service sector accelerated in August, Sterling could enjoy support.
The Eurozone’s latest producer price index could also affect the pairing. A surge in producer price inflation in July could boost the Euro, if it fuels consumer price inflation expectations and leads to an uptick in European Central Bank (ECB) interest rate hike expectations.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
Pound-Dollar could remain under pressure if US services data and payrolls reinforce Fed hike bets, while Bailey risks limiting Sterling support. The Pound US Dollar (GBP/USD) exchange rate edged lower on Wednesday, striking its worst levels since mid-August as a global bond selloff gripped markets.
At the time of writing, GBP/USD was trading at around $1.3477. Down around 0.3% from Wednesday’s opening levels.
Latest — Exchange Rates:
Pound to Dollar (GBP/USD): 1.349002 (-0.18%)
Euro to Dollar (EUR/USD): 1.15875 (-0.03%)
Dollar to Yen (USD/JPY): 158.6891 (-0.94%)
DAILY RECAP:
The US Dollar (USD) firmed against the majority of its peers on Wednesday as the ongoing turmoil in global bond markets saw investors favour the safe-haven currency.
Rising energy prices, persistent inflation concerns and mounting fiscal pressures have driven government bond yields sharply higher across the globe, with many countries now grappling with borrowing costs at multi-month highs amid expectations that most central banks will be forced to tighten monetary policy in the coming months.
Renewed expectations for a Federal Reserve’s interest rate hike later this month is also boosting USD demand, with the odds of a September hike having risen to around 70% since last week.
The Pound (GBP) struggled to attract support on Wednesday as the wider global bond rout sent domestic borrowing costs soaring.
The benchmark 10-year gilt yield hovered at levels not seen since 2008, whilst the 30-year yield pushed to its highest levels since 1998.
While the sell-off reflects a wider international trend, the escalation in UK yields carries unique risks for Westminster. With Chancellor John Healey finalising his Autumn Budget for next month, steeper financing costs threaten to severely erode the Treasury's fiscal headroom and restrict government spending plans.
Near-Term GBP/USD Forecast: Robust US Services PMI to Boost the 'Greenback' Looking ahead, the next catalyst of movement for the Pound to US Dollar (GBP/USD) exchange rate will be the publication of the latest ISM services PMI.
August's index could help to underpin the 'Greenback' as it's expected to report an acceleration in the US service sector.
Although any resulting movement in USD may be modest as markets await the publication of the latest non-farm payroll report at the end of the session.
For GBP investors, the focus in the second half of the week will be on Bank of England (BoE) Governor Andrew Bailey as he delivers a scheduled speech on Friday.
Bailey could sap Sterling sentiment if he retains his recent cautious bias regarding monetary tightening, as it could dampen bets the BoE will deliver a rate hike later this year.
Exchange Rates UK Research Our currency coverage draws on live market data, official economic releases and published bank research.
Gold prices rose in Philippines on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 8,911.43 Philippine Pesos (PHP) per gram, up compared with the PHP 8,814.83 it cost on Wednesday.
The price for Gold increased to PHP 103,940.70 per tola from PHP 102,814.50 per tola a day earlier.
Unit measure
Gold Price in PHP
1 Gram
8,911.43
10 Grams
89,113.88
Tola
103,940.70
Troy Ounce
277,176.60
FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
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.
(An automation tool was used in creating this post.)
Gold prices rose in Saudi Arabia on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 535.67 Saudi Riyals (SAR) per gram, up compared with the SAR 529.71 it cost on Wednesday.
The price for Gold increased to SAR 6,247.91 per tola from SAR 6,178.41 per tola a day earlier.
Unit measure
Gold Price in SAR
1 Gram
535.67
10 Grams
5,356.68
Tola
6,247.91
Troy Ounce
16,661.29
FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
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.
(An automation tool was used in creating this post.)
Gold prices rose in United Arab Emirates on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 523.79 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 518.04 it cost on Wednesday.
The price for Gold increased to AED 6,109.41 per tola from AED 6,042.34 per tola a day earlier.
Unit measure
Gold Price in AED
1 Gram
523.79
10 Grams
5,237.94
Tola
6,109.41
Troy Ounce
16,291.74
FXStreet calculates Gold prices in United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
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.
(An automation tool was used in creating this post.)
Gold prices rose in Pakistan on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 39,519.29 Pakistani Rupees (PKR) per gram, up compared with the PKR 39,068.50 it cost on Wednesday.
The price for Gold increased to PKR 460,945.30 per tola from PKR 455,687.30 per tola a day earlier.
Unit measure
Gold Price in PKR
1 Gram
39,519.29
10 Grams
395,192.90
Tola
460,945.30
Troy Ounce
1,229,186.00
FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
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.
(An automation tool was used in creating this post.)
Gold prices rose in Malaysia on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 576.55 Malaysian Ringgits (MYR) per gram, up compared with the MYR 570.25 it cost on Wednesday.
The price for Gold increased to MYR 6,724.71 per tola from MYR 6,651.27 per tola a day earlier.
Unit measure
Gold Price in MYR
1 Gram
576.55
10 Grams
5,765.45
Tola
6,724.71
Troy Ounce
17,932.57
FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
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.
(An automation tool was used in creating this post.)
EUR/JPY extends its losses for the second successive day, trading around 183.00 during the Asian hours on Thursday. Technical analysis of the daily chart indicates the currency cross remains within a symmetrical triangle, signalling a consolidation phase.
However, the EUR/JPY cross is retaining a bearish near-term bias as it holds beneath both the nine-period and 50-period Exponential Moving Averages (EMAs). The short- and medium-term EMAs now cap the topside and suggest that rallies are likely to be sold, while the 14-day Relative Strength Index (RSI) at 37.31 is edging toward oversold territory, hinting that downside momentum is slowing rather than reversing.
The EUR/JPY cross tests the immediate support at the lower boundary of the symmetrical triangle around 182.90. A break below the triangle would strengthen the bearish bias and put downward pressure on the cross to navigate the region around the nine-month low of 179.37, recorded on August 3.
On the upside, the EUR/JPY cross could target the initial barrier at the nine-day EMA of 184.72, aligned with the 50-day EMA of 184.76. Further resistance lies at the upper boundary of the symmetrical triangle around 185.80. A break above the triangle could support the currency cross to reach the all-time high of 187.95 set on April 17.
EUR/JPY: Daily Chart(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.
USDEURGBPJPYCADAUDNZDCHFUSD-0.07%-0.07%-0.62%-0.09%-0.02%-0.23%-0.13%EUR0.07%0.00%-0.57%-0.07%0.07%-0.21%-0.06%GBP0.07%-0.00%-0.55%-0.06%0.06%-0.19%-0.07%JPY0.62%0.57%0.55%0.52%0.61%0.34%0.49%CAD0.09%0.07%0.06%-0.52%0.08%-0.17%-0.04%AUD0.02%-0.07%-0.06%-0.61%-0.08%-0.26%-0.10%NZD0.23%0.21%0.19%-0.34%0.17%0.26%0.17%CHF0.13%0.06%0.07%-0.49%0.04%0.10%-0.17% 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).
Gold prices rose in India on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 13,476.27 Indian Rupees (INR) per gram, up compared with the INR 13,328.04 it cost on Wednesday.
The price for Gold increased to INR 157,184.50 per tola from INR 155,455.60 per tola a day earlier.
Unit measure
Gold Price in INR
1 Gram
13,476.27
10 Grams
134,762.70
Tola
157,184.50
Troy Ounce
419,159.50
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
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.
(An automation tool was used in creating this post.)
The short-term Elliott Wave view in Gold (XAUUSD) indicates that the cycle from the June 30 low concluded at $4695.89. This advance has been labeled as wave ((1)). A corrective pullback in wave ((2)) is now unfolding to retrace that cycle. The correction took the form of a zigzag Elliott Wave structure. From the peak of wave ((1)), wave 1 ended at $4564.27, while the subsequent rally in wave 2 terminated at $4631.93. The metal then resumed its decline, with wave 3 reaching $4396.07. A modest recovery in wave 4 ended at $4464.08, before the final leg lower in wave 5 concluded at $4282.23. This sequence completed wave (A) of the zigzag correction.
At present, wave (B) is progressing as a rally designed to correct the cycle from the August 25, 2026 high. This move should unfold at minimum in a three-swing zigzag structure. Wave A of the zigzag is approaching completion, after which a pullback in wave B is expected before the market turns higher again in wave C. In the near term, as long as the pivot at $4695.89 remains intact, rallies should fail in either three or seven swings, leading to further downside.
Dollar Index fell along with the decline in USDJPY on possible intervention from the Bank of Japan. This has led to a short rally in major currencies against the US Dollar. Euro could trade within 1.1550-1.1650 in the near term while Aussie could rise towards 0.73. EURINR has declined as expected and could test 109 in the near term before trying to rebound from there. The Indian Rupee strengthened in the offshore Market as RBI stated a $127mln FCNR deposits so far. This could translate to further Rupee strength in the very near term taking it to 94.50 or even 94 before reversing. The Chinese Yuan can strengthen towards 6.70 soon while 6.7250/7270 holds. USDJPY and EURJPY look bearish towards 158-156 and 184 respectively for the near term.
The US Treasury Yields have come down slightly. Supports are there to limit the downside. The bullish view is intact, and the yields can rise more. The German Yields have risen above their key resistance. Need to see if this break sustains. If it does, then more rise is on the cards. The 10Yr GoI has come off from its high of Wednesday. But the upside remains open for more rise while it sustains above the immediate support.
Dow remains vulnerable to 52500-52000 while below 53500. DAX can decline towards 25500. Nifty needs to sustain above 24000 for a rise towards 24200, while a break below 23800 could drag it towards 23600. Nikkei remains weak and can decline towards 62000. Shanghai is likely to remain range-bound between 3850-4000 while below 4000.
Crude prices continue to strengthen towards $100 (Brent) and $95 (WTI) respectively. Gold remains vulnerable to a decline towards $4200 unless it sustains above $4600. Silver has weakened sharply and can dip further towards $62-$60 before a recovery. Copper is likely to remain range-bound between $6.50-$6.80 for some time. Natural Gas is attempting to break above $3.00, with a sustained break opening the way towards $3.25-$3.50.
Visit KSHITIJ official site to download the full analysis
Gold (XAU/USD) is seen building on the previous day's goodish recovery from the $4,282 area, or a nearly four-week low, and gaining some follow-through positive traction for the second straight day on Thursday. The momentum lifts the commodity further beyond the $4,400 mark during the Asian session as retreating US bond yields undermine the US Dollar (USD). That said, firming US Federal Reserve (Fed) rate hike expectations and inflation risks stemming from higher energy prices could act as a tailwind for US bond yields. Apart from this, geopolitical uncertainties could support the safe-haven USD, warranting caution before positioning for any further appreciating move for the precious metal.
According to CME Group's FedWatch Tool, traders are pricing in around a 62% chance that the US central bank will hike rates at its upcoming September 15-16 policy meeting. The expectations were lifted by Fed Chair Kevin Warsh's hawkish remarks last Friday. Moreover, worries that rising energy prices will rekindle inflationary pressures back the case for Fed tightening, which could limit the USD's corrective slide and cap the non-yielding bullion. In fact, crude oil prices trade near the highest level since July 24, touched on Wednesday, as tensions between the US and Iran have flared up after fresh US strikes on Iranian targets and retaliatory drone and missile attacks by Tehran across the Gulf region.
Furthermore, US President Donald Trump said on Wednesday that he is prepared to launch another attack on Iran. This, along with continued clashes over the Strait of Hormuz, keeps the geopolitical risk premium in play, which should continue to support oil prices and the USD. Hence, it will be prudent to wait for strong follow-through buying before confirming that the Gold price has bottomed out in the near term and placing fresh bullish bets. Traders might also opt to wait for the release of the crucial US Nonfarm Payrolls (NFP) report on Friday, which will be looked at for more cues about the Fed's future policy path and help in determining the next leg of a directional move for the XAU/USD pair.
XAU/USD 4-hour chart
Technical AnalysisThe overnight close above the 23.6% Fibonacci retracement level of the recent corrective slide from an over three-month peak, set in August, and the subsequent move up back the case for further gains. That said, the 38.2% retracement at $4,438 is the first cap, reinforcing the idea of a corrective bounce within a broader downside phase. Furthermore, the Moving Average Convergence Divergence (MACD) indicator turns positive and the Relative Strength Index (RSI) hovers near 49, hinting at stabilizing but not yet bullish momentum.
A move beyond the 38.2% Fibonacci level, however, should pave the way for a move toward the 100-period SMA at $4,480, the 50.0% retracement at $4,487, the 61.8% level at $4,535, and, later, $4,604 and $4,692. On the downside, immediate support emerges at the 23.6% retracement at $4,378, while a deeper pullback would expose the Fibonacci-derived structural floor near $4,282.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Australian Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.07%-0.07%-0.60%-0.09%0.03%-0.13%-0.11%EUR0.07%0.00%-0.57%-0.07%0.11%-0.12%-0.04%GBP0.07%-0.00%-0.55%-0.06%0.11%-0.10%-0.05%JPY0.60%0.57%0.55%0.51%0.65%0.44%0.50%CAD0.09%0.07%0.06%-0.51%0.12%-0.08%-0.02%AUD-0.03%-0.11%-0.11%-0.65%-0.12%-0.20%-0.13%NZD0.13%0.12%0.10%-0.44%0.08%0.20%0.10%CHF0.11%0.04%0.05%-0.50%0.02%0.13%-0.10% 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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Gold is building on its recovery from four-week troughs below $4,300, with buying aiming to recapture the key near-term resistance at around $4,450 early Thursday.
Gold awaits Fedspeak, more US data for impetusGold buyers seem to be back in the game after the daily technical setup turned in their favor after flashing bearish signals earlier in the week.
This, combined with renewed US Dollar (USD) weakness, falling US Treasury bond yields and a better market mood, allows the USD-sensitive bright metal to extend its turnaround.
The Greenback sees fresh selling pressure as Asian traders hit their desks and react negatively to Wednesday’s weak ADP Employment Change report.
The ADP said on Wednesday that US private employment rose by 38,000 jobs last month after an upwardly revised 46,000 in July, missing the forecast for 48,000 jobs growth.
Following the data release, markets slightly scaled back expectations for a US Federal Reserve (Fed) interest rate hike in September to about 62% from 66% seen pre-ADP, the CME Group’s FedWatch Tool showed.
Additionally, the continued USD/JPY sell-off, amid speculation surrounding intervention by Japanese authorities, adds to the USD’s downside bias, bolstering Gold’s recovery.
The Japanese Yen (JPY) also appears to capitalize on the hawkish repricing of the Bank of Japan’s (BoJ) monetary policy outlook, undermining the currency pair. A BoJ rate hike this month is nearly fully priced in by markets.
Against this backdrop, markets are looking past the ongoing hostilities in the Middle East as Oil prices stall their rally to six-week highs. Gold buyers are breathing a sigh of relief amid an upside consolidation in the black liquid.
That said, Friday’s Nonfarm Payrolls (NFP) data from the US could determine whether Gold will sustain its recovery or prepare for a fresh sell-off.
The headline NFP is expected to rebound by 58K in August following an unexpected decline of 23K in July. The Unemployment Rate is set to remain at 4.1% in the reported period.
In the meantime, Gold traders will take cues from the US ISM Services PMI data and speeches from Fed officials for fresh trading incentives.
Gold price technical analysis: Daily chart
In the daily chart, XAU/USD trades at $4,431.70. The metal holds a bullish near-term bias as it remains above the 50-day and 100-day simple moving averages (SMAs) at $4,231.78 and $4,357.75, respectively, which suggest a constructive underlying trend. Price is now challenging the short-term 21-day SMA at $4,448.99, while the Relative Strength Index (14) around 53 hints at steady, rather than stretched, upside momentum.
On the topside, initial resistance is aligned at the 21-day SMA near $4,448.99, followed by a more significant barrier at the 200-day SMA around $4,533.04. On the downside, immediate support is found near the latest pivot around $4,431.70, with further layers of demand at the 100-day SMA at $4,357.75 and the 50-day SMA near $4,231.78, where buyers would be expected to defend the broader uptrend on any deeper pullback.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold faces data-driven risks as Fed hawkishness meets CTA selling levelsAccording to TD Securities, “economic data becomes increasingly important for precious metals, with gold at risk of CTA selling” as markets head into Friday’s US Non-farm Payrolls report. The firm notes that “non-farm payrolls this Friday will be the next piece of data with keen interest for precious metals given the renewed hawkish tone from the Fed and the latest escalation in the energy market.”
TD Securities cautions that the “price reaction may be more prone to the downside on potential beats in the data,” with gold “nearing some CTA selling levels near $4,300/oz” and “pricing simulations suggesting a further downward trend toward $4200-$4100/oz would see positioning reduced back to near flat into next week.” However, the bank adds that, looking beyond the immediate data risk, “we do not anticipate material downside as the landscape for precious metals has improved amid a renewed dollar debasement theme, while Fed hikes remain far from certain.”
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 short-term Elliott Wave view in Gold (XAUUSD) indicates that the cycle from the June 30 low concluded at $4695.89. This advance has been labeled as wave ((1)). A corrective pullback in wave ((2)) is now unfolding to retrace that cycle. The correction took the form of a zigzag Elliott Wave structure. From the peak of wave ((1)), wave 1 ended at $4564.27, while the subsequent rally in wave 2 terminated at $4631.93. The metal then resumed its decline, with wave 3 reaching $4396.07. A modest recovery in wave 4 ended at $4464.08, before the final leg lower in wave 5 concluded at $4282.23. This sequence completed wave (A) of the zigzag correction.
At present, wave (B) is progressing as a rally designed to correct the cycle from the August 25, 2026 high. This move should unfold at minimum in a three-swing zigzag structure. Wave A of the zigzag is approaching completion, after which a pullback in wave B is expected before the market turns higher again in wave C. In the near term, as long as the pivot at $4695.89 remains intact, rallies should fail in either three or seven swings, leading to further downside.
Gold (XAUUSD) 60 Minute Elliott Wave Chart XAUUSD Elliott Wave Video You are currently viewing a placeholder content from Default. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
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TL;DR: USD/JPY has tumbled from 160.38 through 158, not because of actual intervention but because fear of a repeat is shaping trader psychology near 160 — a fear reinforced by rapidly repricing BoJ tightening expectations, setting up an asymmetric test for Friday’s NFP.
Not Intervention, but July Changed the Risk Calculus USD/JPY has fallen sharply from 160.38 yesterday, and the selloff extends through 158 today. But latest move bears little resemblance to confirmed intervention seen at end of July. That operation drove pair almost vertically from 163.97 to 155.22, a drop of roughly 8.75 Yen, or more than 5%, as Japan intervened with US participation. By comparison, latest decline has been much smaller, more orderly and spread over hours rather than minutes.
There is therefore little in price action itself to suggest authorities have stepped back into market. But July intervention still matters because it changed how traders behave when USD/JPY approaches 160. With pair again testing familiar territory ahead of another US payroll report, market is facing a pre-NFP repeat in positioning psychology, even without a repeat of official action.
That leaves an important distinction: intervention is not driving USD/JPY lower directly, but fear of intervention is shaping risk-reward around 160. Traders carrying short-Yen positions now have recent evidence that official action can produce a sudden multi-Yen reversal. That makes position reduction more likely before authorities actually intervene.
Intervention Fear Explains Timing; BoJ Repricing Explains Durability Intervention anxiety alone would make latest move vulnerable to reversal. What gives Yen strength a more durable foundation is rapid repricing of BoJ tightening path.
Markets are no longer simply debating whether BoJ raises rates at September 17–18 meeting. OIS pricing points to roughly 96.5bp of cumulative tightening over the coming 12 months, close to four quarter-point hikes. September itself is priced at around an 84% probability, but more important development is how much additional tightening is being built beyond that meeting.
BoJ board member Hajime Takata reinforced that shift in his Wednesday speech in Sapporo. He described “2026 [as] a regime change” in monetary policy, argued rate hikes should become “nimble and data-dependent,” and said BoJ should not be “bound by particular intervals or ranges anticipated in the markets.”
That directly challenges old assumption of roughly semiannual tightening. If BoJ is moving from two carefully spaced hikes a year toward a genuinely data-dependent cycle, Yen becomes less attractive as a cheap and predictable funding currency.
Washington Is Reinforcing, Not Creating, the BoJ Story US pressure adds another layer. Treasury Secretary Scott Bessent has repeatedly encouraged Japan to normalize policy, while reports following his G20 meetings with Japanese officials said he argued that Japan’s next step should be higher rates.
That matters because Washington and Tokyo increasingly appear aligned on the direction of adjustment: less Yen weakness and tighter Japanese monetary conditions. It also reduces market confidence that renewed USD/JPY gains well through 160 would be passively tolerated.
Still, BoJ tightening case should not be reduced to US pressure. Takata’s argument is domestic: Japan’s inflation regime has changed, price stability target is close to being achieved, and policy should increasingly guard against an inflation overshoot. Bessent amplifies that backdrop; he does not create it.
The distinction reinforces central thesis. Intervention fear explains why traders are nervous near 160. BoJ repricing explains why buying back Yen can continue even without intervention.
ActionForex’s Technical View on USD/JPY Technical picture has deteriorated quickly. USD/JPY’s decline from 160.38 has now extended through 157.99 support, confirming that the rebound from 155.22 has completed as a three-wave corrective move. Immediate focus is now on 61.8% retracement of 155.22 to 160.38 at 157.19.
Firm break of 157.19 will pave the way toward the 154.76–155.01 medium-term support zone, which includes the 38.2% retracement of 139.87 to 163.97 at 154.76. The recent 155.22 intervention low sits just above that area.
Momentum is already stretched. 4H RSI has dropped into deeply oversold territory around low-20s, while MACD has turned sharply lower. That creates room for a near-term bounce, but an oversold rebound would not repair technical damage by itself. On upside, 159.00 is first minor resistance. A break there would stabilize near-term picture and reopen 160. But that is where technical recovery runs into a much less measurable obstacle: intervention risk.
NFP Makes the Setup Asymmetric Friday’s US payroll report is therefore unusually important.
Current Fed pricing still favors another September hike, but softer ADP employment has reminded markets that labor data remain one of clearest ways to challenge hawkish path. A weak NFP would attack USD/JPY through US side of rate differential: Treasury yields could fall, Fed hike expectations could ease and the break of 157.99 could extend toward 157.19.
That creates a relatively clean downside sequence: 157.19 → 154.76–155.22 support zone
There is no equivalent policy barrier preventing Yen from strengthening through those levels.
A strong NFP creates a different setup. It would likely support US yields, and allow USD/JPY to recover through 159.00 toward 160. But a move materially above 160 must overcome two additional hurdles that did not exist in same form earlier this year: fresh intervention memory and a much more aggressive BoJ tightening path.
That does not make 160 an official ceiling. It does mean upside becomes progressively harder to price with conviction.
Strong Payrolls Need to Do More Than Save September This is where NFP asymmetry becomes clearest.
A merely solid jobs report may be enough to preserve September Fed hike expectations. But that may only produce another test of 160.
For USD/JPY to establish a more durable move higher, NFP probably needs to push markets toward a more aggressive Fed path beyond September, not just validate one hike already substantially priced. In other words, US rates would need to become more hawkish faster than Japanese rates are being repriced.
By contrast, a weak NFP does not face that higher threshold. It would simultaneously reduce US rate support, reinforce Fed-BoJ convergence and encourage more short-Yen covering.
That leaves USD/JPY with an asymmetric pre-NFP setup. Weak jobs have a relatively unobstructed route toward 155 levels. Strong jobs can drive a rebound, but a convincing break above 160 must overcome both intervention risk and a BoJ tightening cycle that markets increasingly expect to accelerate.
Key Takeaways USD/JPY’s fall from 160.38 toward 158 is far more orderly than July’s confirmed intervention, suggesting fear of a repeat, not actual official action, is driving the move. OIS pricing points to roughly 96.5bp of cumulative BoJ tightening over the next 12 months, with September priced at an 84% probability but more tightening expected beyond it. BoJ’s Takata described 2026 as a “regime change” toward nimble, data-dependent hikes, directly challenging the old assumption of roughly semiannual BoJ moves. A weak NFP has a relatively clear path toward the 154.76-155.22 support zone, while a strong NFP faces two extra hurdles above 160: intervention memory and accelerating BoJ tightening. 157.19 is the key near-term level; a break opens the 154.76-155.01 zone, while 159.00 is the first resistance on any oversold bounce.
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.
Silver price (XAG/USD) extends its Wednesday recovery move on Thursday, trading 0.67% higher at around $65.70 during the European trading session. The white metal strengthens as the US Dollar (USD) declines further due to moderate job demand in the United States (US) private sector.
As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades close to Wednesday’s low near 99.45.
On Wednesday, the US ADP reported that the private sector created 38K fresh jobs in August, fewer than 47K estimates and the prior release of 46K. This has created an unfavorable backdrop for the Nonfarm Payrolls (NFP) data for August, which will be published on Friday.
Technically, a lower US Dollar makes the Silver price a favorable risk-reward bet for investors.
Meanwhile, a pause in the rally in US Treasury Yields has also offered some support to non-yielding assets, such as Silver.
10-year US Treasury Yields have corrected to near 4.77% after posting a fresh high of 4.82%, a level last seen in October 2023.
Silver Technical Analysis
In the daily chart, XAG/USD trades at $65.92. The pair holds above the 20-day Exponential Moving Average (EMA) at $65.50, which suggests a constructive near-term bias as price continues to respect trend support.
The Relative Strength Index (14) at 52.85 sits in neutral-to-positive territory, hinting that bullish momentum is present but not overstretched after the latest advance.
On the downside, immediate support emerges at the 20-day EMA at $65.50, where buyers are likely to defend the ongoing upswing if a pullback unfolds. Looking up, the August high at $71.12 is the key resistance zone.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Sell AUD/USD. Higher odds of both RBA and Fed hikes push the market toward tighter USD policy and less room for AUD to rally; strong Aussie data is already “priced,” while the article flags elevated inflation and renewed oil/energy pressure that can keep both central banks hawkish. Technicals also point to a bearish reversal (rising wedge convergence, PPO bearish crossover, RSI rolling over). Target 0.700 support.
Key Risk: A sharp risk-off move that weakens the USD (or a surprise dovish Fed/RBA shift) that drives AUD/USD back above 0.7207.
Brent-linked AUD
Sell AUD exposure via AUD/JPY (or AUD futures). The news ties the hawkish rate repricing to higher oil after US-Iran activity; that supports global growth but also keeps inflation sticky, which tends to keep JPY relatively supported versus high-beta AUD when rates are uncertain. With AUD/USD set up to break lower, AUD/JPY should follow on the same rate-and-risk repricing.
Key Risk: Oil spikes further and triggers a broad commodity/risk rally that lifts AUD/JPY despite the wedge/oscillator bearish setup.
The Australian dollar held firm today, September 3rd, as investors adjusted their RBA and Federal Reserve expectations for the year. The AUD/USD pair was trading at 0.7165, a few points below the August high of 0.7207.
Traders are bracing for interest rate hikes from the Federal Reserve and the Reserve Bank of Australia (RBA) happening as soon as this month.
Polymarket gives the odds of RBA’s rate hike happening in September rose to 67%. These odds jumped after the US and Iran resumed their kinetic activity, which led to higher oil prices.
Australia has also published strong macro numbers this week. An S&P Global report showed that the services PMI came in at 53.2 in August, higher than the expected 52.9. A PMI reading of 50 and above is usually a sign that a sector is growing. The composite PMI came in at 52.7, also higher than the expected 52.50.
Another report released on Wednesday showed that the Australian economy expanded by 2.1% in the second quarter, higher than the expected 1.8%. It grew by 0.4% in Q2 after growing by 0.3% in Q1 on a QoQ basis.
This growth happened even as the Reserve Bank of Australia (RBA) became the most hawkish central banks this year. It has already delivered three rate hikes this year, with officials leaving the door open for more hikes.
A key concern is that Australia’s inflation has remained at an elevated level in the past few months. This trend will likely continue now that the US and Iran have restarted their kinetic activity, leading to higher energy prices. Brent, the global benchmark, rose to $95.68, while the West Texas Intermediate (WTI) rose to $91.
The same situation is happening in the US, where odds that the Fed will hike rates this month have jumped to 55% on Polymarket. These odds soared after Kevin Warsh delivered a highly hawkish statement at the Jackson Hole Symposium.
In it, he hinted that the bank was concerned about the state of inflation, which has remained above the 2% target in the past five years.
Focus now shifts to the upcoming US nonfarm payrolls (NFP) report that will provide color on the labor market. Economists expect the data to show that the economy created over 80k jobs in August this year.
AUDUSD chart | Source: TradingView
The daily chart shows that the AUD/USD pair may be on the verge of a bearish reversal in the coming days. For one, it has formed a rising wedge pattern whose two lines are about to converge.
Also, the two lines of the Percentage Price Oscillator (PPO) have made a bearish crossover, while the Relative Strength Index is pointing downwards.
Therefore, the most likely scenario is where the AUD/USD pair falls, potentially to the key support of 0.700.
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Thursday at 6.7807 compared to the previous day's fix of 6.7829 and 6.7167 Reuters estimate.
PBOC FAQs The primary monetary policy objectives of the People's Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market.
The PBoC is owned by the state of the People's Republic of China (PRC), so it is not considered an autonomous institution. The Chinese Communist Party (CCP) Committee Secretary, nominated by the Chairman of the State Council, has a key influence on the PBoC’s management and direction, not the governor. However, Mr. Pan Gongsheng currently holds both of these posts.
Unlike the Western economies, the PBoC uses a broader set of monetary policy instruments to achieve its objectives. The primary tools include a seven-day Reverse Repo Rate (RRR), Medium-term Lending Facility (MLF), foreign exchange interventions and Reserve Requirement Ratio (RRR). However, The Loan Prime Rate (LPR) is China’s benchmark interest rate. Changes to the LPR directly influence the rates that need to be paid in the market for loans and mortgages and the interest paid on savings. By changing the LPR, China’s central bank can also influence the exchange rates of the Chinese Renminbi.
Yes, China has 19 private banks – a small fraction of the financial system. The largest private banks are digital lenders WeBank and MYbank, which are backed by tech giants Tencent and Ant Group, per The Straits Times. In 2014, China allowed domestic lenders fully capitalized by private funds to operate in the state-dominated financial sector.
USDJPY drops sharply in early US trading on Wednesday (down over 1%) after the pair hit the highest in almost five weeks (160.39) but bulls repeatedly failed to sustain gains above psychological 160 barrier.
The latest hawkish shift from BoJ officials in calling for quick action to support weakening yen in the situation of increasing inflationary risks, adds to growing expectations that the central bank may raise rates as early as this month.
On the other hand, today’s sharp rise of Japanese currency sparked speculation that Japanese authorities have intervened again after repeated attacks at 160 threshold (although the previous intervention started from the levels near 164).
The pair fell to 158.20 on today’s sharp fall (trendline support), with quick bounce above cracked significant support at 158.42 (Fibo 38.2% of 155.22/160.39 rally / 200DMA) suggesting that bears may have reached firmer ground (in case of daily close above 158.42).
The structure on daily chart weakened, as RSI slid below 50 zone and 14-d momentum entered negative territory, developing signal that the price may fall further (sustained break of 158.42 is required to signal bearish continuation) after limited upticks (should be capped under 159.17 (broken Fibo 23.6% / 20DMA).
Traders will continue to focus on comments from Japanese and US financial authorities for fresh signals.
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Gold has found support around its 200-day EMA as futures positioning strengthens and options traders retain a relatively bullish skew. With NFP approaching, the setup keeps the prospect of another push towards 5,000 alive.
Gold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the US Dollar (USD) and Treasury yields retreat from recent highs. All eyes will be on the US August Nonfarm Payrolls (NFP) data, which is due later on Friday.
US Treasury yields eased after a surge to multi-year highs in the previous session. Federal Reserve (Fed) Bank of New York President John Williams said that rising long-term bond yields are not driven by inflation fears but are instead a reflection of a solid economy.
"One of the reasons that gold has been able to move back above unchanged is we have seen a little tick down in yields for the day and that has allowed gold to bounce off some of the recent lows," said David Meger, director of metals trading at High Ridge Futures.
However, rising tensions in the Middle East could raise energy-driven inflation concerns and boost the prospect of Fed rate hikes in the coming months. This, in turn, might cap the upside for the yellow metal. Gold is often used as a hedge against inflation but does not yield interest, making it less attractive when interest rates are high.
Traders are now pricing in a 62.3% probability of an interest rate hike at the Fed's policy meeting this month, according to the CME FedWatch tool.
The US launched new airstrikes on Iranian targets, prompting counter strikes by Tehran targeting US interests in Bahrain, Kuwait, Jordan and Iraq, and fuelling concerns about a wider renewal of hostilities.
US President Donald Trump said that the US had launched a wave of “large and powerful” strikes on Iranian targets near the Strait of Hormuz in retaliation for what he said was a “failed attempt” at laying mines along the vital trade route.
Gold slips as higher oil and Middle East tensions curb Fed easing hopesCommodities strategists at ING report that gold prices have "eased to a two-week low, slipping below $4,300/oz," as escalating tensions in the Middle East have pushed oil prices higher and forced markets to "reassess the outlook for US interest rates." They caution that rising energy costs "could add to inflationary pressures and reduce the scope for near-term Federal Reserve easing," a backdrop that is seen "weighing on non-yielding assets such as gold."
Williams flags strong economy behind higher yields as inflation trend coolsFed's Williams delivered a mildly less hawkish tone, with a 6/10 FXS Speechtracker score only marginally above the historical average of 5.9/10, as the emphasis shifted toward a strong economy and contained inflation expectations rather than fresh inflation fears. By stressing that rising yields are driven by robust growth, strong investment demand, and geopolitical factors such as Middle East conflict and tariffs—while underscoring a trend toward lower inflation and stable labor markets—Williams framed current financial conditions as tight but not disorderly, keeping the focus on achieving 2% inflation as the primary mandate.
The FXS Fed Sentiment Index slipped by 1.42 points to 127.44, signaling a modest pullback in perceived hawkishness despite remaining firmly above the neutral 100 line. This configuration suggests that, even with a softer edge to the latest remarks, the broader Fed stance still resides in hawkish territory, consistent with elevated yields and a data-dependent path toward the 2% inflation goal as tracked by the FXS Speechtracker.
Technical Analysis: Gold retains a modest bullish tone above the 100-day SMAIn the daily chart, XAU/USD holds above the 100-day simple moving average (SMA), keeping a constructive bullish bias despite consolidating below the Bollinger middle band. The 14-day Relative Strength Index (RSI) hovers near 50, hinting at neutral short-term momentum that could tilt higher while price remains supported above the 100-day SMA.
On the topside, initial resistance is located at the Bollinger middle band around $4,450, with the upper Bollinger band near $4,685 acting as a subsequent hurdle if buyers regain control. On the downside, immediate support is seen at the 100-day SMA at $4,360, ahead of the lower Bollinger band near $4,215, where a deeper pullback would be expected to attract dip-buying interest as long as the broader bullish structure holds.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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 Pound Sterling collapses versus the Japanese Yen as growing “speculation” of an intervention in the FX markets witnessed the Yen appreciating versus most G8 FX currencies. The GBP/JPY trades with losses of more than 1.10%, at 214.08.
GBP/JPY Price Forecast: Technical OutlookThe cross-pair dipped below the 100-day Simple Moving Average (SMA) at 215.08, opening the door to further downside and putting the 214.00 milestone in play. Momentum shifted strongly bearish, as indicated by the Relative Strength Index (RSI). Hence, the path of least resistance is tilted to the downside, with sellers regaining control.
The GBP/JPY first support is 214.00. A breach of the latter will expose the 200-day SMA as the next support at 213.02. On further weakness, the August 3 cycle low of 209.58 would be the next area of interest, before sellers test yearly lows near 207.24.
On the other hand, if buyers drive the GBP/JPY exchange rate above the 100-day SMA, this could trigger some consolidation between the 215.08-216.04 area, with the latter being the 50-day SMA.
GBP/JPY Price Chart – Daily
GBP/JPY daily chart Japanese Yen Price Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.05%0.24%-0.87%-0.37%-0.32%0.74%0.16%EUR-0.05%0.18%-0.92%-0.43%-0.37%0.66%0.11%GBP-0.24%-0.18%-1.09%-0.59%-0.56%0.46%-0.08%JPY0.87%0.92%1.09%0.48%0.55%1.58%1.03%CAD0.37%0.43%0.59%-0.48%0.06%1.09%0.55%AUD0.32%0.37%0.56%-0.55%-0.06%1.03%0.50%NZD-0.74%-0.66%-0.46%-1.58%-1.09%-1.03%-0.53%CHF-0.16%-0.11%0.08%-1.03%-0.55%-0.50%0.53% 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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
