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Date: 08.07.2026
Market Sentiment Markets are focused on renewed U.S. Iran tensions, firmer oil prices, and today’s FOMC minutes. Brent moved around $75.8 to $76.2 after fresh Middle East escalation, while gold slipped near $4,050 as higher inflation and rate expectations supported the dollar tone. FX volatility remains contained, but USD/JPY is still elevated above 162, keeping intervention risk in focus. EUR/USD and GBP/USD are holding narrow ranges as traders wait for clearer Fed signals.
Previous Session Recap
Market
Move
USD
Mixed, firmer vs yen
Oil
Higher on supply risk
Gold
Lower on rate pressure
Top Overnight Global Forex Headlines
Headline
Impact
U.S. Iran strikes
Oil, haven flows
RBNZ hiked to 2.5%
NZD support
FOMC minutes due
USD catalyst
Forex Focus of the Day
The main focus is whether the Fed minutes confirm a hawkish stance. A stronger rate message could support the dollar and pressure metals, while softer wording may help EUR/USD and GBP/USD stabilize.
Key Economic Events
Time
Event
Today
FOMC minutes
Today
EIA crude inventories
Today
Middle East headlines
Major Forex Currency Outlooks
Pair
Bias
Focus
EUR/USD
Neutral
1.1400 support
USD/JPY
Bullish
162.50 resistance
GBP/USD
Neutral
1.3350 pivot
Commodities Watch
Asset
Bias
Focus
Gold
Soft
$4,050 zone
Silver
Soft
$59 support
Brent
Firm
$76 area
Key Forex Technical Zones
Instrument
Support
Resistance
EUR/USD
1.1400
1.1460
USD/JPY
161.80
162.80
GBP/USD
1.3300
1.3400
Gold
$4,020
$4,090
Silver
$58.50
$60.20
Brent
$74.80
$77.50
Trader’s Takeaway Today’s trading setup favors patience. Oil-sensitive inflation fears, Fed minutes, and yen intervention risk can quickly shift direction. Traders may prefer confirmed breakouts over early positioning, especially around USD/JPY, gold, and Brent.
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