Forex Daily Forecast, Analysis and Prediction

The S&P 500 displayed minimal activity in Wednesday's trading session, with a focus on the upcoming Federal Open Market Committee (FOMC) meeting.

The AUD/USD pair was flat on Thursday morning as the market digested the hawkish Fed decision and the encouraging Australian inflation data.

The EUR/USD price retreated slightly after the Federal Reserve delivered a relatively hawkish pause on Wednesday.

The GBP/USD exchange rate moved sideways after the Federal Reserve interest rate decision and as traders waited for the upcoming Bank of England (BoE) meeting.

Confidence Eroding but Correlations Remains Evident.

The current price of the USD/CAD is near 1.34300 which is close to support last tested in a sustained manner in the middle of January.

During yesterday's session, the EUR/USD pair tried to rebound to stop the pace of its losses.

The NZD/USD is trading near the 0.61340 level as of this writing which is a short-term high.

The US dollar continued to gain against other major currencies amid safe-haven demand.

Recently, gold prices rose by $20 yesterday and started this exciting week's trading from the support level of $2,023 per ounce.

Risk aversion was in favour of a downward correction for the USD/JPY pair, with losses extending to the support level of 147.08 before.

USD/INR Currency Range is Stable and Speculatively Quiet.

Mid-Term Support Ratios a Factor for Speculators.

Bitcoin has been on the rise recently, showing signs of recovery after a period of decline.

The euro experienced some initial downward movement during Tuesday's trading session but later showed signs of recovery.