Forex Daily Forecast, Analysis and Prediction

The S&P 500 rallied a bit on Tuesday to continue the upward pressure from the Monday low.

The euro initially rallied on Tuesday to show signs of strength, as we had been testing the 1.05 level for support.

The Australian dollar had a wild session on Tuesday after the Reserve Bank of Australia raised interest rates by 50 basis points.

The AUD/USD pair retreated slightly even after the Reserve Bank of Australia (RBA) delivered a more hawkish interest rate hike than expected.

The BTC/USD pair continued to recoil as investors continued to worry about several factors such as inflation and tight monetary policy.

The GBP/USD pair declined slightly as investors refocused on the important central bank decisions scheduled for today and Thursday.

For four trading sessions in a row, the price of the EUR/USD currency pair is settling around its recent losses extending towards the 1.0470 support level, the lowest in five years.

With the beginning of this week’s trading, the price of the US dollar against the Japanese yen returned to stability above the 130.00 psychological resistance, its highest in 20 years.

Gold futures contracts are on track to achieve the worst performance for one session in two months, as they fall below $1900 with the start of this important week's trading.

Investors still prefer to buy the US dollar due to strong expectations for the future of US interest rate hikes.

Yesterday, the Dow Jones Industrial Average rose during its recent trading at intraday levels, to achieve gains for the second day in a row, by 0.26%, to gain 84 points.

Get today's recommendation on the lira against the dollar for May 3, 2022 here.

Today, spot natural gas prices (CFDS ON NATURAL GAS) rose during yesterday’s trading session, after a series of rises during the last trading period at intraday levels.

New long-term lows were made in the NZD/USD yesterday, as the Forex pair awaits impetus from the U.S Federal Reserve’s pronouncement this coming Wednesday.

SOL/USD has managed a slight reversal higher in early trading this morning, but conditions remain choppy as the cryptocurrency remains near crucial lows.