Forex Daily Forecast, Analysis and Prediction

Prior to the announcement of the British inflation figures, the GBP/USD currency pair failed to rebound to the upside.

The Japanese Yen reacted positively to new data that may indicate that the world's third largest economy may avoid a recession for the time being.

Gold futures XAU/USD recorded modest gains yesterday after the US inflation data for January.

Spot natural gas prices (CFDS ON NATURAL GAS) settled down during its early trading on Wednesday, recording daily losses until the moment of writing this report, by -1.47%.

The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Tuesday, as we are hanging around the 50-Day EMA.

The S&P 500 continues to be very noisy, as we are hanging around the same flag that we have been in for a couple of days.

The NZD/JPY initially pulled back a bit during the trading session on Tuesday, but then turned around to show signs of life.

Gold markets have been back and forth during the trading session on Tuesday, as we are trying to figure out what to do with it.

When you look at the chart between the Euro and the British pound, you can see that the 50-Day EMA has offered a bit of a trendline for this market.

The NZD/USD is trading near the 0.62800 vicinities early today.

The USD/INR is trading near the 82.8400 vicinity with relatively fast price action.

The GBP/USD exchange rate pulled back after the strong American inflation and UK jobs numbers.

The AUD/USD currency pair has gone back and forth during the trading session on Tuesday, as we now look at a market that is going very noisy moves.

The euro drifted downwards against the US dollar as traders assessed the impact of the stronger-than-expected inflation numbers.

The Euro has initially tried to rally during the trading session on Tuesday but ran into a buzz saw of resistance in the 1.08 level.