Date 24 February 2026
Market Sentiment
Markets are trading with heightened volatility and risk‑off positioning as renewed global trade tensions and tariff uncertainty weigh on sentiment. The U.S. dollar has regained some traction, while the Japanese yen weakened sharply on renewed tariff conflict and geopolitical risk, undercutting safe‑haven flows. Equity markets opened mixed, and commodity currencies are fluctuating amid risk repricing.
Previous Session Recap
• The yen weakened sharply as markets digested fresh U.S. tariff announcements, pushing USD/JPY higher.
• The U.S. dollar strengthened modestly against major peers following tariff‑driven risk repricing.
• The euro and British pound remained relatively stable, with EUR/USD near recent support.
• Oil prices rose, while precious metals like gold and silver showed mixed performance amid broader market volatility.
Top Overnight Global Forex Headlines
• Renewed U.S. tariffs spark market uncertainty and currency volatility.
• Asian stocks steady but cautious after a Wall Street selloff.
• USD/JPY trading higher as yen weakness persists.
• EUR/USD near key technical support zones after recent declines.
Focus of the Day
Market focus remains on how FX pairs respond to extended trade policy uncertainty and tariff headlines, with traders watching technical support and resistance levels and broader macro sentiment. There are limited high‑impact economic releases today, placing more emphasis on geopolitical developments and technical price action.
Key Economic Events
• CNY Loan Prime Rate (1Y & 5Y) – China monetary conditions remain stable.
• NZD Bill Auctions – New Zealand liquidity data.
• EUR New Car Registrations – Eurozone auto sector release.
• Labor Market / Unemployment Data (Poland) – regional sentiment gauge.
(Note: Major high‑impact U.S. and European macro is light today.)
Major Currency Outlooks
USD – Mildly Bullish
The greenback has regained short‑term support amid trade tension repricing. Buyers may remain active as risk aversion dictates flows toward USD, though disruptions could persist in the absence of fresh macro catalysts.
EUR – Neutral to Slightly Bearish
EUR/USD hovers near key support levels following recent declines. Technical conditions suggest limited upside until clear risk of direction or macro impetus emerges.
GBP – Neutral
The pound remains near recent ranges as market participants weigh global policy headlines against UK‑specific data. Sterling lacks a strong directional catalyst today.
JPY – Bearish Bias
Renewed trade tensions and geopolitical dynamics have pressured the yen, lifting USD/JPY toward recent intraday highs. Safe‑haven flows may shift depending on risk of sentiment.
AUD & NZD – Risk‑Linked
Commodity currencies are fluctuating with risk appetite and broader market uncertainty. Moves in oil and metal prices will continue influencing these pairs.
CAD – Aligned with Oil Prices
CAD is closely tracking crude oil performance, and any volatility in energy markets could affect USD/CAD range.
Commodities Watch
• Gold (XAU/USD) Elevated but showing mixed intraday movement as dollar strength curbs some upward pressure.
• Silver (XAG/USD) Prices fluctuating with broader risk sentiment.
• WTI & Brent Crude Crude oil prices remain supported as risk aversion eases supply demand concerns.
• Copper Holding near recent highs, reflecting a mixed industrial demand backdrop.
Key Technical Zones
Currencies
• EUR/USD Support ~1.1750 – 1.1700 | Resistance ~1.1850 – 1.1880
• USD/JPY Support ~154.00 – 153.50 | Resistance ~156.00 – 157.00
• GBP/USD Support ~1.3450 – 1.3400 | Resistance ~1.3550 – 1.3600
• AUD/USD Support ~0.7050 – 0.7000 | Resistance ~0.7120 – 0.7180
• NZD/USD Support ~0.5950 – 0.5900 | Resistance ~0.6020 – 0.6080
• USD/CAD Support ~1.3640 – 1.3610 | Resistance ~1.3700 – 1.3750
Commodities
• Gold (XAU/USD) Support ~5,150 – 5,120 | Resistance ~5,220 – 5,280
• Silver (XAG/USD) Support ~83.0 – 81.0 | Resistance ~88.0 – 90.0
• WTI Crude Oil Support ~64.0 – 63.0 | Resistance ~67.0 – 68.0
• Brent Crude Oil Support ~70.0 – 69.0 | Resistance ~73.0 – 74.0
• Copper Support ~5.85 – 5.75 | Resistance ~6.00 – 6.10
Trader’s Takeaway
• Renewed trade policy uncertainty is driving volatility across FX and commodities.
• USD strength and JPY weakness are key intraday themes.
• EUR/USD and GBP/USD remain range‑bound near critical technical thresholds.
• Commodity FX will continue reacting to broader risk sentiment and energy / metals performance.
• Use technical support and resistance levels to manage risk amid uncertainty.
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