Forex Daily Forecast, Analysis and Prediction

The British pound gapped lower on Monday, but then turned around to reach the highs of the Friday session before breaking down.

The gold market initially tried to rally on Monday to reach towards the $1790 level.

The GBP/USD pair was little changed on Tuesday morning ahead of the latest UK employment and US producer price index (PPI) data.

The AUD/USD pair retreated on Tuesday morning as focus remained on the rising American inflation and the upcoming interest rate decision by the Federal Reserve.

The BTC/USD pair is under pressure as investors reflect on the upcoming Federal Reserve decision and the ongoing sell-off of cryptocurrencies.

The USD/CAD has turned higher in early trading this morning as the Forex pair reacts to a clash between technical and sentiment perspectives.

XRP/USD has moved towards mid-term lows in early trading this morning, this after attempting a slight move higher briefly yesterday.

This week will be an impactful one for the year, so there will be reactions to its events and economic data.

The outlook for the US dollar was boosted last Friday when official figures confirmed US inflation had risen to a new multi-decade high last month, which is likely to keep the Federal Reserve (Fed) on course to accelerate its monetary policy normalization.

Gold futures posted modest gains at the end of the trading week amid the US annual inflation rate rising to its highest level in nearly 40 years.

The GBP/USD was more stable at the end of last week but remained weak after the Bank of England (BoE) decided to continue interest rate outlook.

There is strong support below $47k.

The CAC 40 Index drifted a little bit lower on Friday after filling the gap a couple of days ago.

The Bitcoin market initially tried to rally on Friday but gave back gains as we continue to see crypto get hit right along with everything else.

Gold markets had a rather volatile Friday session as we bounced around to show signs of indecision.