Forex Daily Forecast, Analysis and Prediction

The gold market has rallied slightly during the trading session on Thursday as we wait for the Core PCE numbers in the USA.

The British pound has initially tried to rally a bit during the trading session here on Thursday but gave back gains as we continue to see the idea of rate cuts in England take hold.

The USD/ILS is near the 3.14050 with a wide spread being demonstrated and fast price action having already taken place this morning.

The US dollar jumped against the Japanese yen on Wednesday, as traders are looking to take advantage of the interest rate differential.

The US dollar looks as if it is trying to bounce a bit after a little bit of a drop on Wednesday as the dollar continues to chop back and forth against the Mexican peso. This is a great carry trade pair, which has plenty of momentum longer-term.

There has been a lot of buying pressure in the Asian indices, and the Nikkei 225 will not be any different. Ultimately, this is one of the better opportunities out there.

The gold market continues to see a lot of buyers on each dip.

The British pound has fallen on Wednesday, as we continue to see pressures on this currency.

A firmer US Dollar and a bearish breakdown suggest more downside, especially if the price remains below $1.1805 today.

The NZD/USD remains within its near-term lows around the 0.59850 mark, but the currency pair did explore even lower terrain early this morning when it touched the 0.59575 ratio.

The US dollar rallied a bit against the Canadian dollar on Wednesday as traders are buying back their short positions, despite oil strength.

The S&P 500 was a bit noisy on Wednesday, as traders continue to think about the earnings season, geopolitical issues, and a whole host of other things – all in a longer-term uptrend.

The Euro fell during trading on Wednesday, as we continue to ask questions about the overall strength or weakness of the US dollar.

Bitcoin continues to be quiet and somewhat lost at the moment, as traders will need to see it stabilize for any real shot at higher levels.

The GBP/USD exchange rate pulled back to its lowest level since January 23rd after the UK published an encouraging inflation report on Wednesday. It dropped to a low of 1.3482, down by 2.7% from its highest level this year.