Forex Daily Forecast, Analysis and Prediction

Pressures on the US Federal Reserve are rising to deliver a 50 basis point interest rate cut in response to Covid-19 as Chairman Powell opened the door

Singapore is expected to face a 0.6% contraction in the first quarter of 2020, the first one since the 2009 recession following the global financial crisis.

After the Reserve Bank of Australia opted to decrease its benchmark interest rate by 25 basis points to a historic low of 0.50%, the AUD/USD advanced.

Global financial markets have always waited for the reaction of the US central bank to the recent and successive collapse of US stock markets.

Gold prices plunged by $90 during last Friday's trading session, a collapse from the $1660 resistance, its highest in seven years, to the %1563 support, before closing around the $1585 level.

Undoubtedly, the month of February was painful to the performance of the Pound against majority of other major currencies.

In the flaming last week of February, the EUR/USD pair returned upward with gains to the 1.1053 resistance.

Covid-19 related panic selling last week swept across the entire global financial system, cryptocurrencies included.

AUD/USD: AUD remains in danger of more falls

The US dollar broke down significantly during the trading session on Friday as fear continues to be a major driver of markets.

USD/JPY: Yen in market’s focus now

This is going to be one of the more difficult weekends for traders, as we will all be waiting around to see what type of headlines crossed the wires over the weekend.

The NASDAQ 100 has been all over the place during the trading session on Friday, as we are sitting at the 200 day EMA.

The Euro has shot higher during the trading session on Friday, but then broke down a bit only to turn around and rally again.

The British pound broke down a bit during the trading session on Friday.