Gold prices rose in the European market on Thursday, extending gains for a third straight session and trading above the 3,400-dollar mark per ounce for the first time in two weeks, supported by continued weakness in the US dollar against a basket of global currencies.

Less aggressive comments from some Federal Reserve officials have boosted expectations of a US rate cut in September. To reprice those odds, investors later today await key US economic data.

Price Overview

Gold prices rose 0.15% to 3,401.52 dollars, the highest since August 11, from the opening level of 3,397.17 dollars, after touching a low of 3,384.65 dollars.

On Wednesday, gold settled 0.15% higher, its second consecutive daily gain.

US Dollar

The dollar index fell about 0.15% on Thursday, extending losses for a third session, reflecting continued weakness in the greenback against a basket of major and minor currencies.

The decline came as the US 10-year Treasury yield dropped to a two-week low, with traders increasing bets on a Fed rate cut next month.

US Interest Rates

Federal Reserve member John Williams said the September meeting would be “open” to a rate cut decision. He added: “The risks are more balanced—we just have to wait and see how the data evolves.”

According to CME’s FedWatch tool, market pricing currently assigns an 87% probability of a 25-basis-point rate cut in September, with 13% odds of no change. For October, markets see a 94% chance of a quarter-point cut and only 6% odds of no change.

To reprice those expectations, investors later today await key US data, including second-quarter GDP and weekly jobless claims.

Outlook for Gold

Kyle Rodda, market analyst at Capital.com, said: “There is strong interest in gold due to these institutional trust issues and risks surrounding Fed independence.”

He added: “But we are waiting for a stronger driver to push prices firmly beyond the critical 3,400-dollar level. The US PCE inflation data will be extremely important. We remain optimistic on gold, and I believe all the fundamentals are moving in the right direction.”

SPDR Gold Trust

Holdings at SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose by 2.58 metric tons on Wednesday, marking a third consecutive daily increase, bringing total holdings to 962.50 metric tons, the highest since August 15.

The Swiss franc rose in the European market on Thursday against a basket of global currencies, extending gains for a third consecutive session against the US dollar, supported by weakness in the greenback as bets increased on a Federal Reserve rate cut in September.

Renewed global inflation pressures are weighing on policymakers at the Swiss National Bank, reducing the likelihood of a rate cut in September. To reprice those odds, investors are awaiting Switzerland’s second-quarter GDP figures due later today.

Price Overview

The US dollar fell 0.2% against the Swiss franc to 0.8004, from the opening level of 0.8020, recording a high of 0.8026.

The franc ended Wednesday up about 0.15% against the dollar, its second consecutive daily gain.

US Dollar

The dollar index fell by about 0.15% on Thursday, extending losses for a third straight session, reflecting continued weakness of the greenback against a basket of major and minor currencies.

The decline came as the US 10-year Treasury yield dropped to a two-week low, with traders increasingly pricing in a Fed rate cut next month.

Federal Reserve member John Williams noted that the September meeting would be “open” to a rate cut decision. Williams said: “The risks are more balanced—we just have to wait and see how the data evolves.”

Traders currently price about an 87% probability of a 25-basis-point Fed cut next month, with cumulative easing of 56 basis points expected by year-end.

Swiss Interest Rates

Recent data from Europe, the UK, and the US showed renewed inflationary pressures, suggesting inflation in Switzerland may also pick up again, which could delay further monetary easing by the Swiss National Bank.

Market pricing currently places the odds of a Swiss rate cut in September below 20%.

Swiss Economy

To reprice these expectations, investors are awaiting Switzerland’s Q2 GDP data due later today, with forecasts pointing to 0.1% growth versus 0.5% in Q1.

Outlook for the Swiss Franc

At Economies.com, we expect the franc to continue strengthening against the US dollar if Swiss GDP data come in better than market forecasts.

The Japanese yen rose in the Asian market on Thursday against a basket of global currencies, moving into positive territory against the US dollar, supported by weakness in the greenback in foreign exchange markets as bets increased on a Federal Reserve rate cut in September.

To reprice the odds of a potential 25-basis-point rate hike by the Bank of Japan in September, investors await key Japanese economic data on Friday, which will provide stronger evidence on the path of monetary policy normalization for the remainder of the year.

Price Overview

The dollar fell against the yen by 0.2% to 147.08¥, from the opening level of 147.39¥, recording a high of 147.49¥.

The yen ended Wednesday’s session down by less than 0.1% against the dollar, its second loss in three days, amid correction and profit-taking from near two-week highs.

US Dollar

The dollar index fell by about 0.15% on Thursday, extending losses for a third straight session, reflecting continued weakness of the greenback against a basket of major and minor currencies.

The decline came as the US 10-year Treasury yield dropped to a two-week low, with traders increasingly pricing in a Fed rate cut next month.

Federal Reserve member John Williams noted that the September meeting would be “open” to a rate cut decision. Williams said: “The risks are more balanced—we just have to wait and see how the data evolves.”

Traders currently price about an 87% probability of a 25-basis-point Fed cut next month, with cumulative easing of 56 basis points expected by year-end.

Japanese Interest Rates

Bank of Japan Governor Kazuo Ueda said at Jackson Hole that wage increases are extending beyond large companies and are likely to continue accelerating due to tightening labor market conditions.

These comments reinforced market expectations for the BOJ to resume rate hikes soon, after pausing following January’s increase. Traders currently see October as the more likely meeting for the next hike.

Pricing of a 25-basis-point BOJ hike in September is currently steady around 45%.

To reprice those odds, investors are awaiting key Japanese economic data on Friday, including Tokyo core inflation, retail sales, and unemployment.

With over 250 top-tier companies confirmed, the 8th edition solidifies its standing as a leading global trading event connecting the forex industry across MENA and beyond.

Dubai, UAE  [28 July 2025] – The 8th edition of Forex Expo Dubai is nearing full capacity, with over 250 top-tier forex and fintech brands already confirmed to exhibit. Taking place on 6–7 October 2025 at the Dubai World Trade Centre, the expo has become the go-to meeting place for industry players aiming to scale their presence across the Middle East, Africa, and beyond — serving as a gateway to unmatched exposure, powerful networking, and direct access to thousands of traders, investors, and brokers from around the globe.

From its debut in 2019 with just 50 exhibiting companies, Forex Expo Dubai has experienced phenomenal growth, transforming into one of the world’s most influential forex & trading events. Today, it stands as one of the largest forex gatherings globally, offering brands the opportunity to drive real business outcomes through high-impact engagement and expanded visibility across priority trading markets worldwide.

Top-tier participants already confirmed for this year’s edition include ADSS, Alpari, CFI Financial Group, CXM, Eightcap, Exness, IC Markets, Ingot, JustMarkets, Kanak Capital Markets, Traze, Valetax, Vantage, VT Markets, xChief, XM, XS.com among others— reinforcing the event’s credibility and continued upward trajectory. 

With a surge in space requirements driven by strong demand from key industry players, the 2025 edition of Forex Expo Dubai is now entering its final phase of stand confirmations. 

Commenting on the strong momentum, Niyaz Mohamed, Commercial Director at HQ MENA - organizers of Forex Expo Dubai, stated:  

“Each year, we witness a surge in demand as leading global players recognize the tangible business value and networking reach that Forex Expo Dubai delivers. With booth space running out, we’re entering the final phase of confirmations for companies serious about growth and visibility in the region.”

Why Leading Forex Brands Should Make Forex Expo Dubai 2025 a Priority

• Global Industry Representation: The 2025 edition will feature over 250 exhibiting companies from more than 30 countries, showcasing next-generation trading platforms, liquidity solutions, and financial technologies.

• Targeted Audience: Forex Expo Dubai is expected to welcome over 30,000 traders, investors, fund managers, introducing brokers (IBs), and affiliates — delivering highly focused exposure for participating brands.

• Premium Content: The conference agenda includes 100+ expert speakers, featuring regulatory leaders, market analysts, and fintech pioneers shaping the future of global finance.

• Onsite Business Generation: Proven across past editions, exhibitors consistently close high-value partnerships and client deals through one-on-one meetings and live product demonstrations held directly on the expo floor. 

• Direct Engagement with Retail Traders: The event attracts a massive retail trading community actively seeking new platforms, tools, and broker relationships — providing an ideal environment for exhibitors to convert footfall into long-term customers. 

A Few Spaces Remain for Brands Still Looking to Participate 

With strong demand and most of the floor now committed, a limited number of spaces remain available for industry players looking to align with the global forex community in Dubai. Leading brands still have the opportunity to join this year’s edition and benefit from strategic visibility, high-impact engagement, and direct access to key decision-makers.

For exhibitor inquiries or to request the latest floorplan, interested parties may contact [email protected], visit https://theforexexpo.com/dubai or call/WhatsApp the organizing team at +971 50 605 1205.

About Forex Expo Dubai

Forex Expo Dubai is the region’s leading event for traders, brokers, fintech innovators, and financial institutions. Organized by HQ MENA, the expo is held annually at the Dubai World Trade Centre and brings together the global forex and trading community for two days of high-impact networking, product showcases, and expert-led conference sessions.

About HQ MENA

HQ MENA is a leading event organizer based in the UAE, focused on delivering world-class exhibitions and conferences across fintech, crypto, finance, and online trading. Its mission is to connect global companies with high-intent audiences through content-rich, high-energy event experiences that drive real results.

For Media & Marketing Enquiries, please contact

Risha Singh

HQ MENA

[email protected]