Daily Market Lookup

• The U.S. dollar fell on Friday, but losses were small and the greenback was headed for its best weekly advance in nearly a month. The dollar received a major boost a week ago after the nomination of former Federal Reserve Governor Kevin Warsh as the next central bank chief. The move was deemed as hawkish and sparked expectations that Warsh might pursue a shrinking of the balance sheet. The greenback has extended that boost this week. Global shares have seen their biggest weekly selloff since November, as investors fret about the massive spending on artificial intelligence as well as the potential impact AI tools could have on various sectors. The U.S. dollar has seen the benefit of associated safe haven demand, with the dollar index climbing to levels last seen in the third week of January. One of the catalysts for the greenback this week was supposed to be the widely-watched monthly jobs report, originally scheduled for today. It has been delayed until next week, but traders still received several soft labor market indicators this week. In Europe, EUR/USD traded 0.4% higher to 1.1820, after the European Central Bank left interest rates unchanged as expected on Thursday. GBP/USD rose 0.6% to 1.3618, recouping some of Thursday’s near 1% slide after the Bank of England also kept rates on hold on Thursday in an unexpectedly narrow vote. The focus is squarely on the national election for Japan’s lower house on Sunday, with polls suggesting that Prime Minister Sanae Takaichi’s conservative party was set for a strong win. A greater majority in the lower house gives Takaichi more headroom to enact her fiscally expansionary policies, which entail sweeping tax cuts and more government spending. Elsewhere, USD/CNY was also little changed at 6.9388. The Chinese yuan was advancing towards its longest weekly winning streak against the dollar in nearly 13 years. The pair was down about 0.2% against the dollar this week and was headed for an 11th straight week of declines. The yuan was buoyed chiefly by a series of strong midpoint fixes from the People’s Bank.
• Gold prices rose in Asian trade on Monday, while silver also advanced after metal markets logged wild swings last week amid sluggish haven demand, profit-taking, and increased uncertainty over U.S. monetary policy. Focus this week is on a host of key U.S. economic prints– chiefly nonfarm payrolls and consumer price index inflation– for more cues on the world’s largest economy. Haven-linked demand for metals cooled as the U.S. and Iran were seen making some headway in weekend talks, with both sides pledging to continue talks over Tehran’s nuclear ambitions. Precious metal markets logged wild swings last week as traders fretted over the outlook for U.S. monetary policy under President Donald Trump’s nominee for the next Chairman of the Federal Reserve, Kevin Warsh. Warsh’s pick spurred a rebound in the dollar, which in turn sparked a wave of selling across precious metal markets, with traders also locking in recent, stellar gains in gold and silver prices. Gold and silver are trading up 15% and 5%, respectively, so far in 2026. Both metals plummeted from record highs in early-February.
• Oil prices fell in Asian trade on Monday after the U.S. and Iran signaled they will continue to negotiate over the Middle Eastern country’s nuclear ambitions, signaling a cooling in regional tensions. Resilience in the dollar, before a string of key U.S. economic readings this week, also kept crude prices under pressure after a 2% drop last week. Major prints from top oil importer China are also due this week. Washington and Tehran said over the weekend that indirect nuclear talks between the two will continue after what they described as positive discussions held in Oman on Friday. The messaging helped temper concerns that a military conflict in the Middle East was imminent, especially after Washington deployed several warships to the region earlier in the year. Fears of a conflict had seen traders attach a greater risk premium to oil, with Trump also threatening military action against Tehran. But odds of an all-out war in the Middle East now appeared less likely, although Tehran signaled that it will still continue with its nuclear enrichment program. Focus this week is also on a host of key economic readings from the world’s largest oil consumers. In the U.S., nonfarm payrolls data for January is due on Wednesday, while CPI index data is due on Friday. The prints will be closely watched for more cues on interest rates, with markets also still gauging the outlook for monetary policy under Warsh. In China, CPI data for January is due on Friday, offering up more cues on the world’s largest oil importer. The data comes just before China heads into the week-long Lunar New Year holiday– an event that is expected to spur more fuel demand in the country.

Gold – XAU

Gold on Friday interaday high of US$4971.46/oz and low of $4655.13/oz. God is up by 3.59% at US$4965.89/oz.

Technicals in Focus:

On the daily charts, gold trades higher than 20DMA (2197). If it drops below this level, it could lead to 2,100. The MACD is currently above the zero line and the histograms are showing an increasing trend, indicating that there may be upward movement in the coming sessions. The RSI is currently at 83.04, which is in the overbought region, suggesting there may be selling pressure in the next 2 to 3 sessions. The Stochastic Oscillator is also in the overbought territory but has given a positive crossover, indicating a bullish stance for intraday trades, but rebound in expected in all the overbought indicators.

Trading Strategy: Sell on Strength

Sell below 5024-5182 keeping stop loss closing above 5200, targeting 4990-4960-4900-4880 and 4850-4800-4800-4772. Buy in between 4990-4706 with risk below 4700 targeting 5024-5040-5090-5110 and 5140-5160-5182.

Silver - XAG

Silver on Friday its intraday high of US$78.13/oz and low of US63.99/oz settle up by % at US$77.79/oz.

Technicals in Focus:

On daily charts, silver is sustaining above 20MA (25.05), breakage above will lead to 23.73. MACD is below the zero line and histograms are increasing trend, bringing a bullish stance in the upcoming sessions. RSI is in the oversold region, indicating a sell signal for now. The Stochastic Oscillator is in the overbought region and gives a positive crossover to show an upside move for the intraday trade.

Trading Strategy: Buy on Dips

Buy in between 81.50-76.00, targeting 82.10-83.00-84.70-85.50 with stop loss should be placed on the breakage below 90.00. Sell in between 82.10-86.50 with a stop loss above 86.50 targeting 81.50-80.50-79.40-78.00 and 77.10-76.00-75.30-74.50.

Oil - WTI

Crude Oil on Friday high of US$64.35/bbl, an intraday low of US$62.05/bbl, and settled down by 2.05% to close at US$63.30/bbl.

Technicals in Focus:

On daily charts, oil is sustaining above its 100DMA i.e. 75.37, a support level, and breakage above will call for 77.48. MACD is above the zero line and histograms are in increasing mode will bring a bullish stance in the upcoming sessions. The Stochastic Oscillator is in the overbought region, giving a negative crossover to confirm a bearish stance; while the RSI is in the neutral region, more upside can be expected to reach the overbought region, which is highly probable.

Trading Strategy: Neutral to Sell

Sell in between 63.00-65.70 with stop loss at 66.00; targeting 63.00-62.50-61.90 and 61.20-60.60-60.10-59.40 Buy above 62.50-57.90 with risk daily closing below 57.40, targeting 63.00-63.80 and 64.50-65.15-65.70-66.40.

EUR/USD

EUR/USD on Friday an intraday low of US$1.1765/EUR, a high of US$1.1825/EUR, and settled the day up by 0.320% to close at US$1.1813/EUR.

Technicals in Focus:

On daily charts, prices are sustaining above 100DMA (1.1661), which becomes immediate support, a break below will target 1.1695. MACD is above the zero line and histograms are increasing mode, bringing a bullish view. Stochastic is in oversold territory, giving negative crossovers to the bullish outlook for intraday. 14D RSI is currently in a neutral region and giving no directions to consider right now.

Trading Strategy: Neutral to Sell

Sell below 1.1850-1.1990, targeting 1.1850-1.1790-1.1755-1.1690 and 1.1640-1.1590-1.1545-1.1500 with stop-loss at daily closing above 1.1990. Buy above 1.1790-1.1110 with risk below 1.1100 targeting 1.1890-1.1920-1.1950 and 1.1990-1.2010-1.2035.

GBP/USD

GBP/USD on Friday made a intraday low of US$1.3507/GBP, a high of US$1.3622/GBP, and settled the day up by 0.603% to close at US$1.3605/GBP.

Technicals in Focus:

On daily charts, prices are sustaining above 50DMA (1.2674) is becoming a support level. 14-D RSI is currently in a neutral region and direction is difficult to predict on an RSI basis. The Stochastic Oscillator is in oversold territory and gives a positive crossover to confirm a bullish stance. MACD is above the zero line, but histograms are increasing leading to movement.

Trading Strategy: Neutral to Buy

Based on the charts and explanations above; buy between 1.3600-1.3200 with a target of 1.3640-1.3690-1.3725 and 1.3760-1.3800 with a stop loss closing below 1.3200. Sell in between 1.3660-1.3820 with targets at 1.3700-1.3670-1.3640-1.3600 and 1.3550-1.3490-1.3410 with a stop loss of 1.3700.

USD/JPY

USD/JPY on Friday made an intra‐day low of JPY156.50/USD an intraday high of 157.26/USD, and settled the day up by 0.218% at JPY157.21/USD.

Technicals in Focus:

In daily charts, JPY is sustaining above 100DMA (152.35), major support on the daily chart. 14-D RSI is currently in the overbought region and chances of downward are expected based on RSI. MACD is above the zero line but histograms are decreasing mode which might lead to downward movement. The Stochastic Oscillator is in overbought territory and signaling to sell as it has given a negative crossover to confirm a bearish stance.

Trading Strategy: Neutral to Sell

Sell below 157.10-160.10 with risk above 160.10 targeting 156.00-155.40-154.60 and 154.00-153.60-153.20-152.65. Long positions above 156.00-148.00 with targets of 157.10-157.60-158.20-158.60 and 159.00-160.10 with stops below 148.00.