Markets are on edge as the Strait of Hormuz stays closed, the Fed is frozen on hold, and the ECB is turning hawkish. Here’s where the major instruments stand heading into a pivotal NFP week 👇
💶 EUR/USD — 1.1721 Flat on the week but with a bullish tilt — the ECB is eyeing rate hikes while the Fed can’t move. NFP on Friday May 8 is the deciding factor.
🛢️ Brent Crude — $108.17 Second weekly gain in a row. Oil hit $114 intraday before pulling back on Iran’s new peace proposal — which Trump promptly rejected. Supply shock deepening.
🥇 Gold — $4,661.40 Caught in a paradox: geopolitical crisis supports it, but oil-driven inflation fights back. Central banks are buying at record levels. Watch NFP for direction.
🥈 Silver — $76.71 Recovered from a $71 low on Friday but still under pressure. AI capex boom ($715B committed by Big Tech) supports industrial demand long-term.
₿ Bitcoin — ~$77,400 Remarkably stable through a stormy macro week. Exchange reserves at 7-year lows, institutional accumulation record-strong. $80,000 is the key breakout level.
🔷 Ethereum — ~$2,284 Slightly underperforming BTC. Strong on-chain fundamentals vs. soft price action. $2,345 is the resistance to crack.
🔍 Full analysis with all key levels and baseline views: 👉 https://nordfx.com/market-news/forex-cryptocurrency-forecast-may-4-8-2026
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📊 NordFX Weekly Forecast: May 4–8, 2026 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.