Forex Daily Forecast, Analysis and Prediction

Pakistan delivered its first economic contraction in 68 years, with a 0.38% decrease for the 2019-2020 fiscal year, which ends today.

Silver markets went back and forth during the trading session on Monday, as we continue to see a lot of noise in this market.

South African Finance Minister Tito Mboweni confirmed the government has no plans to raise income, corporate or value-added tax.

Mexico’s economy plunged by 17.3% in April, the steepest contraction since 1993 per the National Institute of Statistics and Geography

The US dollar strengthened and renewed fears about the future of Brexit and the varied economic performance of both Britain and the United States.

The British pound broke down during the Friday session and found the 50 day EMA to be a bit too resistive to continue going higher.

The Australian dollar initially fell during the trading session on Friday but we continue to see a lot of noise in this pair.

The USD/MXN forex pair has seen a flurry of US Dollar buying the past couple of trading sessions.

The South African Rand has exhibited a rather good range for short term traders the past week as its support and resistance levels have proven capable.

Malaysia’s GDP outlook was revised lower by the International Monetary Fund (IMF), from a 1.7% contraction to 3.8% in 2020.

The Aussie dollar has drifted a little bit lower against the Japanese yen during trading on Friday, with what would have been seen as a slight “risk-off trade.”

The Pakistani Rupee should get a long and thoughtful look from speculators early this week.

The silver markets fell during the majority of the session on Friday but started seeing buyers get involved later in the day.

Global risk sentiment remains fragile early today on the broad markets.

Indian Prime Minister Narendra Modi banks on India’s domestic economy to overcome the devastating impact of the Covid-19 pandemic.