Forex Daily Forecast, Analysis and Prediction

Check out the USD/JPY Forex signal for September 8, 2014 here.

Check out the GBP/USD Forex signal for September 8, 2014 here.

Check out the EUR/USD Forex signal for September 8, 2014 here.

Despite Friday's gains, the XAU/USD pair declined 1.46% for the week and settled at $1268.82 an ounce. Without doubt, the main event of the last trading day of the week was the release of the U.S. jobs report.

The EUR/USD pair initially rallied during the Friday session as the jobs number came out a bit disappointing. The reality is that the European Central Bank cutting rates on Thursday is of course the one thing that people are going to be paying attention to, and the break down in the pair below the 1.30 level signals that we are in fact going lower given enough time.

Friday could have been a big day in this pair. After all, the US and Canada were both releasing employment numbers, and those are major factors in determining the value of a currency. The problem of course is that both of these countries disappointed with lighter than anticipated numbers.

The NZD/USD pair had a positive Friday, as the Non-Farm Payroll numbers came out a bit light. However, this pair is in a serious downtrend, and I see quite a bit of resistance above.

The cable pair has recently been sold off rather viciously, but on Friday we got a bit of a reprieve in the value of the Pound. After all, the Non-Farm Payroll report came out lighter than anticipated, and this would have had people thinking that perhaps the US economy wasn’t as strong as originally thought.

The AUD/USD pair has been range bound for some time now, and the Friday session did little to change that. The Non-Farm Payroll numbers out of America were a bit light in comparison to the expected numbers, but at the end of the day it wasn’t enough to kill off the US dollar.

Check out the weekly Forex forecast for some of the major pairs for the week of September 7, 2014 here.

The XAU/USD pair closed lower than opening on Thursday as strength in the American dollar helped draw investors away from the precious metal.

The WTI Crude Oil markets fell during the session on Thursday, as the US dollar continued to improve its value. With the ECB cutting interest rates, the US dollar of course expanded in value, and as a result of the oil markets fell as it took less of those dollars to buy the commodity.

The EUR/USD pair fell hard during the course of the day on Thursday, with the European Central Bank surprising the market with a completely unexpected interest-rate cut. With that, the value the Euro was pummeled against most currencies, with the dollar being especially interesting as the Federal Reserve is looking to tighten its monetary policy.

Get the bitcoin forecast for September 4, 2014 here.

Get the USD/JPY Forex signal for September 4, 2014 here.