Forex Daily Forecast, Analysis and Prediction

The GBP/USD exchange rate continued falling after the Bank of England (BoE) delivered a relatively dovish interest rate decision.

The EUR/USD pair dropped to a key support level last week as the US dollar index (DXY) bounced back.

The AUD/USD pair drifted downwards even after the hawkish Reserve Bank of Australia (RBA) interest rate decision.

This pair isn’t typically very volatile, so it might have been a nice place to hang out.

The US dollar went back and forth during the course of the trading session on Friday, as we approached the HK$7.80 region.

The Swiss franc has initially fallen against the Japanese yen

The British pound initially fell during the trading session on Friday, dipping well below the 1.90 level.

The euro initially fell against the Canadian dollar during the trading session on Friday.

The GBP/USD did ebb higher starting last week and managed a high around the 1.27405 mark on Wednesday.

Last week saw US stocks reach record highs before falling off as the US Dollar advanced. The Forex market was dominated by a weak Japanese Yen and Swiss Franc.

Buyers remained rather strong in WTI Crude Oil last week and a high of 81.750 was seen on Friday.

Get the weekly Forex forecast for major currency pairs for the week of June 24-29, 2024 here.

The Euro has rallied significantly during the early hours on Thursday as the Swiss National Bank decided to cut rates.

The euro has been choppy against the New Zealand dollar during the early hours on Thursday, as we are testing a major support level.

The kiwi dollar has rallied during the early hours on Thursday to break above the ¥97 level against the Japanese yen, which is also essentially the recent highs