Forex Daily Forecast, Analysis and Prediction

The pound sterling fell as traders flocked to the US dollar amid falling expectations of US rate cuts.

The US dollar index rose sharply, driven by a stronger-than-expected US CPI report, which signaled that the Federal Reserve will not be in a hurry to cut US interest rates in the coming months.

The Japanese yen continued to plummet to as low as 153.23 against the US dollar, its lowest level in 34 years, after data showed US inflation rose more than expected.

Cocoa has gained once again and as of this writing is near the 10,414.0 mark.

The USD/PKR has been moving at a snail’s pace this week.

The Parisian market felt rather significantly during the course of the trading session on Wednesday.

The US dollar initially fell against the Mexican peso during the trading session on Wednesday.

The silver market has been all over the place during the course of the trading session on Thursday.

The euro initially felt during the course of the early hours on Wednesday but turned around the show selling strength again against the British pound.

The British pound has been all over the place against the Japanese yen during the trading session on Wednesday.

The dollar/yen has shown itself to be very strong and we finally broke through the 150 yen resistance barrier.

The EUR/USD pair dived as the US dollar index (DXY) surged to its highest point since November last year.

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.