Forex Daily Forecast, Analysis and Prediction

South Africa reports the lowest daily new Covid-19 infections among all Top 10 infected countries, hardly a relief for the struggling economy

India is on course to overtake the US as the most-infected Covid-19 country globally, as it reports over 80,000 infections daily,

Yesterday, the British government announced a number of new and comic restrictions in some places on the freedoms of companies and families, while it says that they are precautionary measures to contain an increasing second wave of Coronavirus infections.

The USD/ARS continues to trade within a death spiral.

After testing important support levels in early September the USD/INR has produced incrementally bullish trading the past couple of weeks.

Speculators should treat the USD/SGD with respect near term.

The USD/ZAR has once again proven that its trading range can produce reversals when important support levels have been activated and risk appetite decreases.

Mexico breached the 700,000 level in confirmed Covid-19 infections with the death toll approaching 75,000.

Brazil continues to report an increased number of new Covid-19 infections, while the number is forecast to rise.

The Australian dollar has fallen a bit during the trading session on Tuesday, showing signs of exhaustion yet again as the market continues to see a lot of volatility and potential downward pressure.

The silver markets went back and forth during a very choppy and miserable day in the pits, as the market could not decide what it wanted to do.

The British pound has broken below the 200 day EMA during the trading session on Thursday as we continue to see a lot of weakness when it comes to Sterling.

The demand for the US currency as a safe haven increased.

South Africa suffered a 51.0% GDP collapse in the second quarter and remains the ninth most-infected country globally and the most-infected one in Africa.

India continues to lead the world in new Covid-19 infections, slowly closing the gap to the US.