Forex Daily Forecast, Analysis and Prediction

Short-term concerns pressured the US Dollar higher as liquidity concerns remain, and the US Federal Reserve is printing money at a record pace.

US initial jobless claims continue to mount, with next week’s data likely to surpass 30 million job losses over two months due to the global Covid-19 pandemic

Preliminary PMI data out of the UK indicated a steep slowdown, mirrored across Europe, Australia, and the US, due to the global Covid-19 pandemic.

The Australian dollar initially pulled back a bit against the US dollar during the trading session on Thursday, but then rocketed towards the 0.64 handle later in the day.

The Euro initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains as the market reached towards the 1.0850 level.

The British pound initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains to form a bit of a shooting star.

The S&P 500 rallied a bit during the trading session on Thursday but gave back the gains in order to form a bit of a shooting star.

The NASDAQ 100 initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains in order to form a massive shooting star.

The US dollar has gone back and forth during the trading session on Thursday, as we continue to see a lot of noise around the ¥108 level.

The silver markets initially tried to rally during the trading session on Thursday but gave back a lot of the gains as we reached the 50 day EMA.

During the trading session on Thursday, the US dollar dropped below the 75 ruble level during trading, but also found enough support underneath

The West Texas Intermediate Crude Oil market rallied during the trading session initially on Thursday but did reach towards the $20 level

Gold markets initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains above the $1750 level.

After a growing number of countries believe they have either reached the peak of the global Covid-19 pandemic or are very close to it, markets are now digesting news

For the seventh consecutive day, the USD/JPY pair stabilizes in a limited movement range that threatens a strong movement coming in one of two directions, and the downward trend remains the closest opportunity to get support from the next move.