Forex Daily Forecast, Analysis and Prediction

The US dollar has rallied a bit during the course of the trading session on Wednesday against the Mexican peso.

The GBP/USD pair relentless rally gained steam.

The EUR/USD surge accelerated after the latest Federal Reserve minutes pointed to a potential interest rate cut in September.

Bitcoin joined American stocks in bouncing back after the Fed published dovish minutes of the last meeting.

The AUD/USD exchange rate continued its bullish trend after the Federal Reserve minutes on Wednesday.

The Japanese yen stabilized around 145.00 yen per dollar at the start of trading on Wednesday after hitting a two-week high in the previous session, supported by strong expectations that the Federal Reserve will soon begin cutting US interest rates.

Ahead of the release of the minutes from the Federal Reserve's latest meeting, the EUR/USD currency pair is holding onto its recent gains, hovering around the resistance level of 1.1130, the highest level for the currency pair in 2024.

As of this writing the USD/RUB is near the 91.73800 mark with fluctuations being displayed at a rapid pace.

In the middle of July the USD/MYR currency pair was trading near the 4.6935 mark as it began to show signs of selling pressure build.

The British Pound has reached a significant level against the US Dollar amid improving global investor sentiment.

Gold prices soared to a new all-time high of over $2530 per ounce on Tuesday, bolstered by bets on less restrictive monetary policy from major central banks amid ongoing geopolitical concerns.

The US dollar has been fairly negative during the early hours on Tuesday reaching towards the 1.36 level, but we have since seen the Canadian CPI numbers look rather weak

The British pound has rallied again during the trading session on Tuesdays. It looks like we are trying to continue to see the market rise above and make a fresh new high.

The euro has initially rallied a bit during the trading session on Tuesday, but it's worth noting that we are getting dangerously close to a major swing high at the 1.11 level, and in fact have already pulled back just a bit.

This is a pair that is obviously pretty far out there on the risk appetite spectrum.