Forex Daily Forecast, Analysis and Prediction

Silver markets rallied rather significantly during the trading session on Wednesday, breaking above the $23 level.

The US dollar initially fell during trading on Wednesday against the South African Rand but has bounced enough to show signs of life again.

The pair is trading around 1.2715 at the time of writing.

Common sense tells us that sentiment in the global markets has an effect on many financial assets.

When Sweden decided to follow its own path regarding coronavirus it was widely criticized by many global health organizations and national governments.

The precious metal has gained significantly early this week.

Pakistan has signed $11 billion worth of projects signed with China, as part of the China-Pakistan Economic Corridor (CPEC).

Rural India, where agriculture is the primary economic component, is experiencing a surge in demand for farm equipment.

The USD/SGD created a surge of selling the past couple of days and speculators now have a different short term technical trading landscape which they have to carefully consider.

The silver market rallied significantly during the trading session on Tuesday, breaking above the $21 level rather handily.

The Australian dollar has broken through the 0.71 level, which I have been looking at as a major barrier extending all the way from the 0.70 level.

The British pound has broken higher during the trading session on Tuesday, breaking above the 1.2750 level.

The US dollar has broken down significantly against the Brazilian Real, as we have seen the US dollar gets hammered against almost everything.

The weakening of the US currency allowed the GBP/USD pair to achieve gains in the beginning of this week's trading and subsequently moved towards the 1.2665 resistance, where it was stable at the beginning of Tuesday's trading.

Turkey appears to have the Covid-19 pandemic under control, with new daily cases trending lower.