Forex Daily Forecast, Analysis and Prediction

Yesterday’s initial jobless claims out of the US pointed towards a significantly weaker recovery trend than the May NFP report suggested.

Argentina is on track to record its third consecutive year of GDP contraction in 2020.

Roberto Gualtieri, the Italian Minister of Economy and Finance, acknowledged that the economy will exceed the 8.0% contraction for 2020 presently forecast.

The past five days of trading within the USD/ZAR has produced a price range of 16.9000 to 17.5000.

The US dollar has gone back and forth during the trading session again on Thursday, as we simply have nowhere to be when it comes to trading the greenback against the Japanese yen.

The trading range for the USD/INR offers speculative opportunities for those with good risk appetite today as support levels appear vulnerable.

The British pound has broken down significantly during the trading session on Thursday as we continue to see a lot of concerns about the British economy.

The NASDAQ 100 initially fell during the trading session on Thursday before finding buyers below at the 9865 region.

The silver markets have gone back and forth during the trading session on Thursday as the $18 level was tested before pulling back towards the $17.25 level.

The Euro has initially tried to rally during early trading on Thursday, but it is becoming obvious that the market is getting a bit heavy and that it is ready to break down a bit.

The S&P 500 went back and forth during the trading session on Thursday as we are hanging around the 3100 level.

The Australian dollar initially tried to rally during the trading session on Thursday but as you can see the 0.69 level has offered enough resistance to turn this market back around

The Brazilian real continues to lose strength against the greenback as a lot of traders out there are starting to focus on the attitude of global markets in general and global growth.

The West Texas Intermediate Crude Oil market has continued to show a lot of resiliency, as we see buyers jump in and try to fill the gap at the $41 level.

Gold markets were very volatile during the trading session on Thursday, as we reached towards the $1750 level, but then pulled back rather significantly.