Fundamental / Economic Backdrop (short term)
Silver continues to be influenced by a combination of macro-monetary conditions, industrial demand dynamics, and broader risk sentiment.
Key short-term macro drivers:
US monetary policy expectations remain a dominant force. Persisting market expectations for lower real yields and a softer USD …
Month: December 2025
XAUUSD 11/12/2025
Fundamental / Economic Backdrop (short term)
Key macro-economic forces currently influencing gold:
US monetary-policy expectations remain the dominant macro driver. Markets continue to price a lower real-yield environment into 2026, which structurally supports gold as a non-yielding asset.
US dollar strength vs weakness remains fin…
USDCHF 10/12/2025
Fundamental / Economic Backdrop (short term)
Recent macroeconomic and global factors influencing USD/CHF:
The US dollar (USD) continues to be influenced by expectations regarding the stance of the Federal Reserve (Fed). If markets anticipate rate cuts or a dovish stance, USD tends to soften, which supports USD/CHF downward pressure. Conve…
EURUSD 10/12/2025
Fundamental / Economic Backdrop (short term)
Recent macro factors shaping EUR/USD:
The US dollar (USD) remains under pressure as markets continue to price in potential easing by the Federal Reserve (Fed), which tends to reduce real yields and weaken USD — a supportive factor for EUR/USD.
On the euro-area side, economic data remai…
USDJPY 10/12/2025
Fundamental / Economic Backdrop (short term)
USD dynamics: The US dollar remains sensitive to evolving expectations around Federal Reserve policy into year-end. Markets remain highly reactive to US inflation data, labour-market prints, and Treasury yield movements. Any repricing of rate-cut timing continues to drive near-term volatility in U…
GBPUSD 10/12/2025
Fundamental / Economic Backdrop (short term)
Key macro drivers impacting GBP/USD:
Monetary-policy divergence remains the primary driver. The Federal Reserve’s policy outlook continues to guide USD direction through real-yield expectations, while the Bank of England’s stance remains more data-dependent and constrained by mixed UK growt…
EURJPY 10/12/2025
Fundamental / Economic Backdrop (short term)
The euro remains primarily driven by ECB rate-path expectations, euro-area inflation persistence and uneven regional growth. Recent data consistency supports rate-cut delays rather than acceleration, lending mild structural support to the EUR in the short term.
The Japanese yen remains dict…
CHFJPY 10/12/2025
Fundamental / Economic Backdrop (short term)
Key macroeconomic forces influencing CHF/JPY in the immediate term:
Swiss Franc (CHF)CHF continues to benefit from its defensive reserve-currency status, supported by Switzerland’s low inflation, strong fiscal position, and financial stability. In periods of mild risk-off sentiment, CHF often…
GBPJPY 10/12/2025
Fundamental / Economic Backdrop (short term)
Key macro and global-risk influences on GBP/JPY:
The British pound (GBP) continues to be shaped by expectations around the Bank of England (BoE) policy path, UK economic data, and global growth/inflation trends. In the absence of strong UK-specific catalysts (e.g. hawkish BoE moves or positive …
XAUUSD 10/12/2025
Fundamental / Economic Backdrop (short term)
Gold remains strongly driven by a combination of monetary policy expectations, real yields, USD behaviour, and safe-haven demand.
Key short-term macro drivers:
US monetary policy expectations remain a dominant driver. Markets continue to price in a more accommodative Federal Reserve bias, keep…