Introduction

Markets enter a data-packed week after a volatile one, with AUDNZD gaining 1.03% (+123.9 pips), gold falling 4.60%, USOIL dropping 4.2% and Bitcoin consolidating around $79,000 – $81,000. This week, attention turns to major catalysts including the RBNZ’s 2.75% rate forecast, BoC’s 2.25% forecast and U.S. NFP at 58K, with key trading opportunities across USDCAD, NZDUSD, XAUUSD, USOIL, BTCUSD, NVIDIA and Nasdaq.

Previous Week’s Market Recap

Forex: AUDNZD led last week with a 1.03% gain (+123.9 pips), driven by stronger Australian inflation and rising RBA rate-hike expectations, while NZDUSD fell 1.00% (-59.9 pips) on weak New Zealand data, fading RBNZ hike expectations and a stronger USD.

Metals: Gold and silver both declined, with gold falling 4.60% to $4,456.70 and silver 4.34% to $66.27. Gold was pressured by a hawkish Fed outlook and stronger U.S. Core PCE, while silver held up better on solid industrial demand and supply deficits.

Energy: WTI fell 4.2%, outperforming Brent’s 5.4% decline. WTI found support from improved U.S.–Venezuela supply prospects, while Brent was pressured by easing Middle East tensions, weaker Chinese demand and lower global oil-demand forecasts.

Crypto: Solana surged over 14%, leading major cryptocurrencies on strong inflows and institutional interest, while Cardano fell nearly 7%. Bitcoin remained around $79,000–$81,000, struggling below $83,000, while Ethereum consolidated near $2,500 after its recent short squeeze.

Stocks: Amazon, Microsoft and Alphabet were among the strongest performers, supported by positive AI sentiment and Nvidia’s earnings. Semiconductor stocks weakened, with Marvell Technology plunging 10.3%, as profit-taking, higher yields and a hawkish Fed weighed on the sector.

Indices: U.S. indices ended mostly higher, with the Nasdaq +0.8%, S&P 500 +0.5% and Dow Jones +0.5%, boosted by strong Nvidia results and AI optimism. The Russell 2000 fell 1.5%, pressured by higher-rate expectations, weak economic data and rising borrowing costs.

Important Events This Week:

FOREX : USDCAD And NZDUSD

NEW ZEALAND RATE, CANADA RATE & NFP: On Wednesday, 2 September 2026 at 2:00 AM GMT, New Zealand will release its interest rate decision, with a 2.75% forecast, following the RBNZ’s 25-bps hike to 2.50% in July. Later at 1:45 PM GMT, Canada will announce its rate decision, with a 2.25% forecast, after holding rates at 2.25% for six consecutive meetings. On Friday, 4 September at 12:30 PM GMT, the U.S. will release Non-Farm Payrolls, forecast at 58K, following a downward revision of 79,000 jobs to the 12 months through March 2026, with retail accounting for the largest reduction of 154,600 jobs.

USDCAD

USD/CAD is testing key resistance at 1.39112. A break and retest above this level could support a BUY toward 1.40227, with SL 1.38726 and RR around 1:2.9. A rejection from 1.39112 could trigger a SELL toward 1.38423, with SL 1.39300 and RR around 1:3.5. A break below 1.38726 would strengthen the bearish outlook toward 1.38423, with further downside possible toward 1.38210.

NZDUSD

NZD/USD is holding key support around 0.59064. A break and retest above 0.59299 could support a BUY toward 0.59688, with SL 0.59064 and RR around 1:1.7. A rejection from 0.59299 could trigger a SELL toward 0.58560, with SL 0.59472 and RR around 1:3.2. A break below 0.59064 would strengthen the bearish outlook toward 0.58560.

METALS : XAUUSD ( GOLD )

Last week gold dropped 4.60%, from $4,671.80 to $4,456.70. Gold’s sharper decline was driven mainly by Fed Chair Kevin Warsh’s hawkish Jackson Hole speech, which boosted expectations of higher-for-longer interest rates, alongside hotter-than-expected U.S. Core PCE inflation

Gold (XAU/USD) is holding key support at 4,431.785. A break and retest above 4,488.62 could support a BUY toward 4,533.30, with SL 4,431.785 and RR around 1:0.8. A rejection from 4,488.62 could trigger a SELL toward 4,267.506, with SL 4,533.30 and RR around 1:5.0. A break below 4,431.785 would strengthen the bearish outlook toward 4,267.506.

ENERGY : USOIL

Last week, USOIL (WTI) outperformed UKOIL (Brent), falling 4.2% versus Brent’s 5.4% decline. WTI showed more resilience due to the reported U.S.–Venezuela oil deal, which improved its long-term supply outlook, while U.S. Fed expectations also provided some support.

WTI Crude Oil (USOIL) is testing key resistance at 86.49. A break and retest above this level could support a BUY toward 88.03, with SL 84.55 and RR around 1:0.8. A rejection from 86.49 could trigger a SELL toward 78.92, with SL 88.03 and RR around 1:4.9. A break below 84.55 would strengthen the bearish outlook toward 78.92.

CRYPTO : BTCUSD ( BITCOIN )

Last week Bitcoin (BTC) consolidated around $79,000–$81,000, supported by strong ETF inflows and rate-cut expectations but struggling to break above $83,000.

Bitcoin (BTC/USD) is holding key support at 77,729.75. A break and retest above 78,351.51 could support a BUY toward 79,162.71, with SL 77,729.75 and RR around 1:1.3. A rejection from 78,351.51 could trigger a SELL toward 75,411.51, with SL 79,162.71 and RR around 1:3.6. A break below 77,729.75 would strengthen the bearish outlook toward 75,411.51.

STOCKS : NVIDIA

Last week, Nvidia shares rose from $208.48 to $217.55, driven by blockbuster Q2 revenue of $96.2B (+106% YoY), including $89.0B in Data Center sales, and strong Q3 guidance of $108B. However, supply constraints, memory shortages, inflation concerns and reduced Fed rate-cut expectations triggered some late-week profit-taking.

NVIDIA (NVDA) is testing key resistance at 216.78. A break and retest above this level could support a BUY toward 233.71, with SL 210.91 and RR around 1:3.9. A rejection from 216.78 could trigger a SELL toward 206.31, with SL 220.00 and RR around 1:2.6. A break below 210.91 would strengthen the bearish outlook toward 206.31, with further downside possible toward 203.08.

INDICES : Nasdaq Composite

Last week, the Nasdaq Composite rose about 0.8%–0.85%, supported by strong Nvidia earnings and AI optimism, while falling Treasury yields boosted tech stocks early in the week. However, concerns over sticky inflation, higher-for-longer Fed rates, and fluctuating bond yields created volatility and limited further gains.

Nasdaq Composite (IXIC) is testing key resistance at 26,431. A break and retest above this level could support a BUY toward 27,696, with SL 25,993 and RR around 1:2.9. A rejection from 26,431 could trigger a SELL toward 25,993, with SL 26,800 and RR around 1:1.2. A break below 25,993 would strengthen the bearish outlook toward 25,649, with further downside possible toward 25,407.

Weekly Market Outlook : Gold Falls 4.60%, Solana Surges 14%, Nasdaq Gains 0.8% & AUDNZD Rises 1.03% — What’s Next This Week?