cookie

This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.

Allow all
top icon

Important Information

You are accessing the international Moneta Markets website. This is separate from www.monetamarkets.co.uk, which is operated by Moneta Markets Capital Ltd, a firm regulated by the Financial Conduct Authority (“FCA”).

This website is operated by Moneta Markets’ international entities, which are not regulated by the FCA in the United Kingdom. If you invest through this website, you will therefore not benefit from the protections available under the FCA’s regulatory framework. In particular:
• Negative Balance Protection will not be guaranteed.
• The FCA’s leverage restrictions will not apply.
• You will not have access to the Financial Ombudsman Service (“FOS”) to resolve disputes.
• You will not be covered by the Financial Services Compensation Scheme (“FSCS”).
• Funds you deposit will not benefit from the safeguards required under the FCA’s Client Assets Sourcebook. The protection available to your funds will depend on the regulations of the relevant local regulator.

By choosing to continue to this website, you acknowledge and confirm that:
1. This website is owned by Moneta Markets’ international entities, rather than FCA-regulated Moneta Markets Capital Ltd.
2. Neither Moneta Markets Limited nor any other Moneta Markets international entity is based in the United Kingdom or licensed by the FCA.
3. You are accessing this website entirely on your own initiative, without having been solicited by Moneta Markets in any way.
4. Investing through this website does not entitle you to the protections available under the FCA’s regulatory framework.
5. If you invest through this website or with any Moneta Markets international entity, the applicable rules and regulations will be those of the relevant international regulatory authorities, rather than the FCA.

Moneta Markets confirms that it holds the licences and authorisations required to provide the services and financial derivative products described on this website. Anyone accessing this website and opening a trading account does so voluntarily, on their own initiative and without prior solicitation.

By confirming that you wish to proceed, you affirm that your decision to access this website was made solely on your own initiative and that no Moneta Markets entity has solicited you.

I confirm my intention to proceed and enter this website.

Moneta Markets

Please note that Moneta Markets operates this website and its services are not directed at residents of your jurisdiction.

The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

If you have arrived here in error, we kindly advise you to exit the site.

Continue to Site
Moneta Markets

Safe-Haven Demand Grows as Geopolitical Risks Shape Global Markets | 21st July, 2026

Safe-Haven Focus

Global markets remained cautious as escalating tensions between the United States and Iran continued to drive safe-haven demand, while expectations of further Federal Reserve interest rate hikes reinforced support for the US Dollar. Precious metals attracted defensive flows but faced headwinds from higher rate expectations and Dollar strength. Meanwhile, commodity-linked currencies demonstrated resilience, while traditional safe-haven currencies showed mixed performance as investors reassessed geopolitical risks and broader market sentiment.

Gold Forecast (XAU/USD)

Current Price and Context

Gold traded modestly higher as investors sought defensive assets amid intensifying geopolitical tensions in the Middle East. However, gains remained limited as persistent expectations for additional Federal Reserve tightening and a firmer US Dollar reduced the appeal of non-yielding assets.

Key Drivers

• Geopolitical Risks: Rising US-Iran tensions continued supporting safe-haven demand for Gold.

• US Economic Data: Stronger economic expectations maintained support for the US Dollar.

• FOMC Outcome: Expectations of further Fed tightening limited upside momentum.

• Trade Policy: No significant trade developments influenced Gold prices.

• Monetary Policy: Higher interest rate expectations continued weighing on precious metals.

Technical Outlook

• Trend: Moderately Bullish

• Resistance: $3,440

• Support: $3,390

• Forecast: Gold may continue trading with an upward bias while geopolitical uncertainty persists, although Dollar strength could cap further gains.

Sentiment and Catalysts

• Market Sentiment: Cautiously bullish as defensive demand offsets the impact of higher interest rates.

• Catalysts: Middle East developments, Fed communications, Treasury yields, and US economic releases.

Silver (XAG/USD) Forecast

Current Price and Context

Silver traded above $57.00 as buyers challenged a descending trend-line resistance despite ongoing expectations of tighter US monetary policy. Investor demand remained supported by geopolitical uncertainty and improving technical momentum.

Key Drivers

• Geopolitical Risks: Safe-haven demand continued supporting Silver prices.

• US Economic Data: Dollar strength remained a limiting factor for further upside.

• FOMC Outcome: Higher-for-longer rate expectations continued influencing precious metals.

• Trade Policy: Stable global trade conditions had limited impact.

• Monetary Policy: Interest rate expectations remained a primary macro driver.

Technical Outlook

• Trend: Bullish

• Resistance: $57.80

• Support: $56.40

• Forecast: A successful break above trend-line resistance could encourage additional buying momentum.

Sentiment and Catalysts

• Market Sentiment: Moderately bullish as technical momentum improves despite macro headwinds.

• Catalysts: US Dollar direction, Treasury yields, and geopolitical developments.

AUD/USD Forecast

Current Price and Context

The Australian Dollar remained firm above the 0.7000 psychological level despite heightened geopolitical tensions in the Middle East. The currency continued benefiting from resilient market sentiment and demand for higher-yielding assets, offsetting broader support for the US Dollar.

Key Drivers

• Geopolitical Risks: Escalating regional tensions increased market volatility but failed to derail AUD strength.

• US Economic Data: Investors continued balancing Dollar strength against improving global risk appetite.

• FOMC Outcome: Hawkish Fed expectations remained a medium-term headwind.

• Trade Policy: Stable regional trade conditions supported the Australian Dollar.

• Monetary Policy: Interest rate differentials continued influencing price action.

Technical Outlook

• Trend: Bullish

• Resistance: 0.7040

• Support: 0.6980

• Forecast: Sustained trading above 0.7000 may encourage further upside toward nearby resistance levels.

Sentiment and Catalysts

• Market Sentiment: Moderately bullish as resilience outweighs geopolitical concerns.

• Catalysts: Chinese economic data, US macroeconomic releases, and developments in the Middle East.

USD/CHF Forecast

Current Price and Context

The Swiss Franc weakened as investors favored the US Dollar amid renewed safe-haven demand generated by escalating geopolitical tensions. While both currencies traditionally benefit during periods of uncertainty, the Dollar attracted stronger inflows due to expectations of higher US interest rates.

Key Drivers

• Geopolitical Risks: Middle East uncertainty strengthened demand for the US Dollar.

• US Economic Data: Expectations of resilient economic performance supported the Dollar.

• FOMC Outcome: Hawkish Federal Reserve expectations continued boosting Dollar demand.

• Trade Policy: No significant trade developments affected the pair.

• Monetary Policy: Higher US interest rate expectations widened policy divergence.

Technical Outlook

• Trend: Bullish USD/CHF

• Resistance: 0.8150

• Support: 0.8080

• Forecast: USD/CHF may remain supported while geopolitical uncertainty and Fed expectations favor the Dollar.

Sentiment and Catalysts

• Market Sentiment: Bullish for USD/CHF as safe-haven demand increasingly favors the US Dollar.

• Catalysts: Fed commentary, US economic data, and developments surrounding the Middle East conflict.

USD/JPY Forecast

Current Price and Context

The Japanese Yen traded sideways against the US Dollar as investors assessed the evolving geopolitical situation in the Middle East. Despite the Yen’s traditional safe-haven status, expectations of higher US interest rates continued limiting stronger appreciation against the Dollar.

Key Drivers

• Geopolitical Risks: Ongoing uncertainty maintained demand for defensive assets.

• US Economic Data: Stronger Dollar sentiment continued supporting USD/JPY.

• FOMC Outcome: Persistent Fed tightening expectations limited Yen gains.

• Trade Policy: Trade developments remained a secondary market influence.

• Monetary Policy: Diverging monetary policy between the Federal Reserve and the Bank of Japan continued supporting USD/JPY.

Technical Outlook

• Trend: Neutral

• Resistance: 149.80

• Support: 148.60

• Forecast: The pair may continue consolidating until new geopolitical or monetary policy developments provide stronger directional momentum.

Sentiment and Catalysts

• Market Sentiment: Neutral as competing safe-haven flows and interest rate expectations balance market direction.

• Catalysts: Middle East developments, US economic releases, and central bank communications.

Wrap-Up

Geopolitical tensions remained the dominant market driver, prompting investors to seek defensive positions while closely monitoring expectations for additional Federal Reserve tightening. Gold and Silver continued attracting safe-haven demand but faced resistance from a stronger US Dollar and elevated interest rate expectations. Commodity-linked currencies, particularly the Australian Dollar, displayed notable resilience, while traditional safe-haven currencies such as the Swiss Franc and Japanese Yen experienced mixed performance against the Dollar. Market participants will continue watching geopolitical developments, central bank guidance, and upcoming economic data for clearer direction across global financial markets.

Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!

open chat