Forex Daily Forecast, Analysis and Prediction

There is no doubt that the stronger US inflation figures increased the markets’ bets that the US Federal Reserve would be more aggressive in the coming months in the pace of raising US interest rates.

One euro is now equal to one US dollar for the first time in two decades after the historic slide in the rate of the common European currency.

For the second day in a row, the price of the EUR/JPY currency pair is moving in an upward rebound range with gains to the resistance level 139.05.

The AUD cannot compete with USD strength.

The US dollar rallied initially on Wednesday to make a fresh, new high.

The US dollar initially tried to rally against the Singapore dollar during the trading session on Wednesday as a 1.41 level caused a bit of hesitation.

The Bitcoin market rallied a bit on Wednesday as we continue to consolidate in the same general vicinity.

The Ethereum market bounced ever so slightly on Wednesday to show signs of life.

The DAX went back and forth on Wednesday as we continue to flirt with the €12,750 level.

The euro initially fell on Wednesday but found buyers after the inflation number came out.

The British pound was all over the place during the trading session on Wednesday as we continue to see plenty of noise.

The S&P 500 gapped lower to kick off the trading session on Wednesday but turned around as Wall Street started its narrative-building machine after a higher than anticipated inflation number was printed.

The West Texas Intermediate Crude Oil market went back and forth on Wednesday as we continue to see a lot of noisy behavior in general.

The US dollar pulled back a bit against the Canadian dollar Wednesday as we continue to see a lot of noise near the 1.30 level.

The GBP/USD pair moved sideways even after the extremely hawkish statement by Andrew Bailey of the Bank of England.