Forex Daily Forecast, Analysis and Prediction

The GBP/USD currency pair retreated as geopolitical risks rose and after a relatively hawkish statement by Jerome Powell, the Federal Reserve chair.

The EUR/USD currency pair pulled back as economic data showed that Europe’s inflation was falling faster than expected.

The US dollar gapped lower showing signs of weakness against the Indian rupee right away on Monday but has turned around to fill that gap.

The AUD/USD exchange rate rose for three consecutive days, reaching a high of 0.6942, its highest point since February 2023. It has risen by almost 10% from its lowest point this year.

Bitcoin is not doing much and will not be in focus for most traders looking across a range of asset classes other than cryptocurrencies.

The Parisian 40 fell pretty significantly during the early hours on Monday after initially trying to rally.

Silver pulled back a bit during the course of the trading session on Monday, as we have possibly formed a bit of a double top.

Gold continues to pull back a bit in the early hours on Monday, continuing a move that we had seen on Friday.

The EUR/USD is trading near the 1.11680 mark as of this writing on the last day of September. The month of October is likely to be busy for EUR/USD day traders because volatility will remain part of the landscape.

The USD/INR has returned to the higher known price realms it has frequently occupied since late July of this year and speculators pursuing the currency pair likely are trading in the dark.

The USD/ZAR has produced another month of stronger bearish price action as a more dovish U.S Federal Reserve and optimism regarding the South African government has combined.

The dollar price against the Turkish lira stabilized without significant changes. The pair has varied in a limited trading range over the past four weeks,

Before the end of last week's trading, and as the southeastern United States braced for Hurricane Helene, volatility in the foreign exchange market eased slightly as the market awaited the next major events that could move the market.

The USD/JPY pair rebounded in mid-week trading to reach the resistance level of 144.60, recovering from earlier losses that had taken it to the support level of 142.88.

Around last week’s closing levels, the Euro against the US Dollar EUR/USD is stable at the beginning of trading in an important week led by the announcement of US jobs figures and statements by the US Federal Reserve Governor Jerome Powell.