Daily Market Analysis By FXOpen

[FXOpen Trader]

For the First Time In History, the Price of Silver Has Exceeded $115


The weakness of the US dollar amid the White House's ambiguous policy stance, along with other factors (including geopolitics and industrial demand for silver), has led to the XAG/USD quote rising above $115 this week.

Since the beginning of the year, the price of an ounce of silver has increased by more than 50%, continuing the steep upward trend that began back in 2025.

It seems the bull market in precious metals is unstoppable, but the chart is sending important signals that cast doubt on this view.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

[FXOpen Trader]

USD/CAD Falls Below the 2025 Low


Yesterday, financial markets were closely watching statements from central banks regarding interest rates, including the Federal Reserve and the Bank of Canada. According to Forex Factory:

→ The Federal Reserve kept the Federal Funds Rate at 3.75% by a majority vote. "The economy has once again surprised us with its strength," Powell said at the press conference. The Fed Chair also added that "our policy is in a good place".

→ The Bank of Canada left the Overnight Rate unchanged at 2.25%. In its official statement, significant attention was paid to the impact of uncertainty surrounding the trade agreement between Canada, the United States and Mexico (CUSMA).

Although there were no surprises and the central banks' decisions matched analysts' forecasts, the reaction of the USD/CAD pair was quite dynamic. After a spike in volatility, the exchange rate fell below the 2025 low. Moreover, on higher-timeframe charts, a bearish break of support is visible, with that support running through the lows of 2023–2025.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

[FXOpen Trader]

EUR/USD and GBP/USD continue to rise after the Fed meeting


The euro and the pound maintained their upward momentum after the Federal Reserve meeting, despite interest rates being left unchanged. At the start of the week, both pairs rose sharply: EUR/USD tested the area above the psychological 1.2000 level, while GBP/USD climbed towards 1.3870, after which a moderate correction followed as profits were taken.

However, after Jerome Powell's speech, demand for European currencies strengthened again, as the Fed Chair's rhetoric was perceived by the market as a signal in favour of future easing and the regulator maintaining a cautious stance, with no need to return to tightening.

An additional source of pressure on the dollar remains the geopolitical and trade backdrop. Statements by Donald Trump on tariff policy towards Europe have increased uncertainty around the outlook for external trade and added to market nervousness, periodically boosting volatility and supporting demand for alternatives to the dollar. Against this background, gains in the euro and the pound are being driven both by interest rate expectations and by a broader reassessment of risks related to tariffs and political rhetoric.



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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.