Forex Daily Forecast, Analysis and Prediction

The AUD/USD exchange rate held steady after the Fed’s Jerome Powell signaled that the central bank was preparing for interest rate cuts if inflation continues retreating.

In my daily US dollar versus Canadian dollar analysis, it's obvious that we have a lot of support underneath near the 1.36 level.

In my daily British pound, US dollar analysis, it's hard not to notice that we are banging up against the 1.28 level.

In my daily Euro/US dollar analysis, it's hard not to notice that we are essentially sitting still.

In my daily gold analysis, I cannot help but notice that we are struggling a bit to go higher.

It’s hard not to notice that the S&P 500 continue to be very bullish.

The DAX have been absolutely crushed.

It’s hard not to notice that the same area has been offering support over the last several days.

It’s hard not to notice that the Australian dollar has been struggling over the last couple of days.

It remains obvious to me that the euro is doing everything it can to recover against the British pound

The British pound has now reached high levels against the US dollar and will need to see a weak US inflation print on Thursday if it is to make further progress.

For four consecutive trading sessions, the US dollar against the Japanese yen (USD/JPY) has been subjected to selling operations that pushed it towards the support level of 160.26.

At the start of trading this important week, EUR/USD remained stable at $1.0843 after falling to $1.0815 as investors overcame the initial shock of the French election results.

Gold prices retreated below $2,370 an ounce at the start of trading this week after rising by more than 1% in the previous session to reach the six-week high of $2,393 an ounce.

The ability to reverse lower and correlate with the broad Forex market will be welcomed by Brazil.