Forex Daily Forecast, Analysis and Prediction

The Australian Dollar has continued to decline against the US Dollar despite an amount of risk appetite remaining in global markets. This is mostly due to US Dollar strength but suggests some residual weakness in the Aussie.

Bitcoin price continued surging, retesting its all-time high as the recent momentum continued.

The EUR/USD exchange rate’s sell-off stalled after the US published mixed consumer confidence and JOLTS job vacancy numbers.

The GBP/USD pair wavered as traders shifted their focus to the upcoming UK budget by Rachel Reeves and the important economic data from the United States.

During my daily analysis of the GBP/USD pair, I’m watching the 1.30 level with a lot of interest, as this is an area that has been important multiple times in the past.

In my daily analysis of the gold market, the first thing that I notice is that we have in fact broke above the resistance barrier in the last several days.

The USD/BRL has seen a sustained move sideways the past handful of days as financial institutions are clearly waiting on coming U.S economic data, and the results of the U.S election next week.

The USD/SGD has climbed back to values seen in the middle of August as financial institutions brace for a slew of U.S economic data near-term and next week’s U.S Presidential election.

The Japanese yen traded around 153.30 yen against the US dollar on Tuesday, hovering near its three-month low and remaining under pressure from political uncertainty after Japan's ruling coalition lost its parliamentary majority in weekend elections.

The GBP/USD exchange rate is likely to remain under pressure in the coming days, with any bouts of strength likely to be short-lived.

The previous weekend saw some recovery in the euro, suggesting that the dollar's appreciation trend may be nearing exhaustion.

Gold prices were under pressure on Monday as the US dollar and US Treasury yields rose, eroding demand for the precious metal.

Early in the session on Monday, the New Zealand dollar did try to rally against the Swiss franc, but it gave back those gains rather rapidly.

The Euro has rallied a bit during the course of the trading session on Monday against the British pound.

The S&P 500 has gapped to the upside during the early hours on Monday as we continue to see upward pressure.