Forex Daily Forecast, Analysis and Prediction

The US Dollar fell, and stocks rose last week, boosted by continuing sentiment expecting earlier Fed rate cuts in 2024.

Price action in the USD/INR remains rather tight and this puts speculators of the currency pair in a rather challenging position as they try wagering on perspectives.

Traders of the USD/ZAR were ‘treated’ to another month of volatility within the currency pair, but as December progressed the South African Rand did correlate to other major currencies.

The EUR/USD finished 2023 trading with bullish momentum, but it was not without a fight and as January gets ready to start and perspectives likely remain positive.

Gold markets have spent most of the month of December being very volatile, but as we close out the year, it has become increasingly obvious that 2024 should be a very strong year for gold markets in general.

If you are the type of person that likes playing with fire, the NASDAQ 100 is for you.

As I look at the S&P 500 at the end of December, it’s obvious that January is set for a major showdown.

The US dollar continued to drift lower against the Mexican peso during the entirety of the winter, in December brought in more of the same.

The West Texas Intermediate Crude Oil market has spent most of December recovering from an initial plunge lower.

Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of January 1st, 2024 here.

WTI Crude Oil drifted lower during the last week of December, this as light trading volumes and a heightened sense of security helped ease risk adverse fears.

Traders who want to participate in GBP/USD positions this week need to understand Forex volumes will remain light early this week as the New Year begins.

This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.

The S&P 500 index made an attempt to rally overnight but encountered resistance around the 4,800 level, which represents an all-time high.

Examining the natural gas markets reveals a recent rally during Thursday's trading session.