U.S. Dollar Index (DXY): The dollar faced strong resistance around 97.70, struggling to break above it decisively.
It managed to defend the 96.60 support level, keeping the key resistance zone near 97.70 in focus.
EUR/USD: Encountered resistance near 1.1800, while the main support stood at 1.1730.
Some weekly forecasts suggested potential upside toward 1.1875 if bullish momentum persists.
GBP/USD: Faced a correction after resistance near 1.3540; a break below 1.3480 could trigger renewed selling pressure.
The dollar gained short-term momentum following Federal Reserve comments and geopolitical tensions, which added volatility to the currency market.
Gold extended its rally, posting another strong weekly gain, reaching around $3,680 per ounce.
Key support was seen near $3,600, while resistance remained around $3,700.
A possible correction might retest support at $3,535, before resuming higher if momentum continues.
Overall, the trend remains bullish, as gold continues to act as a safe-haven asset amid market uncertainty.
Oil recorded its largest weekly gain in three months, supported by Russian export restrictions.
Brent crude climbed to around $69.55, while WTI surged to $65.20, marking a gain of over 4%.
Key drivers: Drone strikes on Russian infrastructure, Russia’s announcement to limit diesel and gasoline exports, and a surprise drop in U.S. crude inventories.
Despite strong gains, oil remains vulnerable to fluctuations due to global demand concerns and slowing growth in some regions.
The U.S. dollar showed renewed strength, supported by Fed statements.
Major currencies faced strong resistance levels, leading to mixed performance.
Gold continued to outperform as a risk-hedging asset.
Oil outshone most commodities amid supply shocks and geopolitical risks.
