Forex Daily Forecast, Analysis and Prediction

South African cabinet ministers resumed their meeting to craft a way forward once the Covid-19 related lockdown is lifted.

At the beginning of this week’s trading, the price of gold continued its downward correction to the $1671 support.

Prior to the announcement of job and wage numbers in Britain, the GBP/USD pair stabilizes lower around the 1.2388 support.

India could enter its first annualized recession in forty years, due to the extended lockdown measures in response to the global Covid-19 pandemic.

Singapore reported a 17.6% rise in March non-crude exports on the back of a 242.5% surge in gold shipments and a 48.6 advance in pharmaceuticals

The single European currency, the Euro, has received little support ending the recent sharp decline against most other major currencies.

AUD/USD: Risk-off sentiment hits AUD

USD/JPY: More bearish

The Euro has gone back and forth during the trading session on Monday, as we continue to see a lot of noisy trading behavior.

The Australian dollar initially tried to rally during the trading session on Monday, but as you can see gave back quite a bit of the gains as we continue to see a lot of softness around the world.

The NASDAQ 100 has dropped during the Monday session as we continue to see a lot of weakness out there in general.

BTC/USD: Yet strong support from $6,685

GBP/USD: USD is strong on depression fears

EUR/USD: Supportive area near 1.0820

The US dollar has been relatively quiet during the trading session on Monday to kick off the week, as we continue to see a lot of ranging action.