WMM 10 August 2026 Unwedged

Weekly Markets Monitor 10 August 2026

All data as of most recent Friday close unless otherwise stated

What you need to know – Unwedged Highlights C.O.T.W: Unwedged • Geopolitical concerns eased as talks on access through the Strait of Hormuz continued. 6,000 Economic updates were uneven across major economies: in the US, resilient business activity and strong corporate earnings contrasted with a cooling labour market; Eurozone manufacturing 5,500 improved; China’s exports stayed strong even as domestic activity moderated; Japan’s consumer spending weakened further; and in India, the RBI kept rates unchanged while business activity 5,000 moderated. US$/oz 4,500 • Major global equity markets advanced, while oil prices eased and both US Treasury yields and the US dollar moved lower. 4,000

• Helped by broad-based gold ETF buying (p3) but with Asian hours leading price action (p4), gold in 3,500 US$ has broken free of the wedge formed by lower highs since January and a resilient technical floor at the US$4,000 level (C.O.T.W). Weak non-farm payrolls may have played a part, but doubts 3,000 over the signal, given seasonal distortions and firm claims data, kept Fed repricing modest. Yen Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 intervention and an inching towards a Middle East resolution probably contributed too. *Data as of 7 August 2026. Sources: Bloomberg, World Gold Council

Source: Bloomberg, World Gold Council

*Commodities represented by Bloomberg’s BCOM index TR. Oil is Brent, Dollar is DXY index. 1 . Yen intervention: U.S. Scott Bessent, Japan confirm intervention 2. US Treasury intervenes to support yen after Japan steps in, FT reports | Reuters