Forex Daily Forecast, Analysis and Prediction

The GBP/USD exchange rate plunged hard after the strong US inflation numbers complicated the actions of the Federal Reserve.

The Nasdaq 100 initially tried to rally during the trading session on Wednesday, but then plunged to reach the 50-day EMA before bouncing again slightly.

Bitcoin price retreated sharply in the overnight session as investors embraced a risk-off sentiment after the strong US inflation report.

The German index went back and forth during the course of the trading session on Wednesday.

Initial support found below $0.6500 after US CPI data release.

Bitcoin fell initially during the trading session on Wednesday and the hotter than anticipated CPI numbers clearly have had a bit of a negative effect on Bitcoin as well as the US dollar took off.

Gold has fallen a bit during the trading session here on Wednesday as the CPI numbers came out hotter than anticipated.

Amid a temporary halt in US dollar gains ahead of important data and events, the price of the GBP/USD pair managed to rebound higher, extending gains above the resistance level of 1.2710 before settling around the 1.2675 level at the start of Wednesday's session.

The value of the Japanese yen fell to around 152 yen per US dollar, hovering near its lowest level in several decades, prompting Japanese authorities to intervene verbally again.

Since the start of trading this week, the EUR/USD currency pair has been attempting to rebound upwards.

The USD/CAD has delivered a dynamic price range the past handful of days.

The NZD/USD has traded to higher ground in early speculative price action this morning.

During yesterday's trading session, the gold price rose to a new historical record high of $2365 per ounce.

The US dollar continues to grind back and forth in general against the Japanese yen as we continue to pressure the 152 yen level.

The US dollar has fallen rather significantly against the South African Rand during the trading session on Tuesday.