Forex Daily Forecast, Analysis and Prediction

The US dollar is nearing a two-week high against the euro, driven by market expectations for the upcoming US payrolls report and its potential impact on the US Federal Reserve’s policy.

The USD/JPY pair saw a sharp decline to near 145.00, driven by hawkish guidance from Bank of Japan Governor Kazuo Ueda. Ueda reiterated the need for the Bank of Japan to raise interest rates further this year, stressing that the central bank will not hesitate to act if economic and inflationary conditions are in line with expectations.

Recent selling pressure since the beginning of September has pushed the gold price below the significant $2500 per ounce level, with losses extending to the $2473 per ounce support level before stabilizing around $2480 per ounce at the time of writing.

During my daily analysis of cross pairs, I've noticed this one has bounced quite drastically and has even threatened the 200 day EMA.

The USD/BRL closed near the 5.6490 ratio yesterday, essentially turning in a sideways day of Forex.

The euro has fallen a bit against the US dollar during trading on Tuesday as Americans came back from the Labor Day weekend.

The US dollar rallied a bit during the course of the trading session on Tuesday and we have launched from the 1.35 level, and it looks like we are trying to recover.

During the trading session on Tuesday, we seen Tokyo sell off quite drastically as the Nikkei 225 fell rather significantly to test the 50 day EMA.

The bullish parade higher in the NZD/USD currency pair touched a price value of nearly 0.63030 on Thursday of last week.

The crude oil market has plunged rather significantly during the trading session on Tuesday as Chinese demand seems to be cratering.

This currency pair has fallen strongly as market sentiment moves into more firmly risk-off territory, knocking the Australian Dollar and pushing the price below the former key support level and major quarter-number at $0.6750.

It’s easy to see that we have been stabilizing over the last couple of days.

The ASX 200 has shown itself to be somewhat negative.

I’m paying close attention to the fact that we have continued to fall quite drastically, and therefore it’s likely that we could see a revisit of the previous resistance barrier, although at this point in time it is still a little early to call for that.

The NZD/USD pair looks very week, as we had stretched far too high in the air, and now it looks like we are starting to drift a bit lower.