Forex Daily Forecast, Analysis and Prediction

Sudden Spike Lower as Sentiment Takes a Serious Hit

The commodity essentially closed near values it tested from Monday until Thursday of last week.

Get the weekly Forex forecast for major currency pairs for the week of July, 01-06, 2024 here.

The US dollar has launched higher during the trading session on Thursday, as traders look likely to continue to pay close attention to the Federal Reserve monetary policy.

The US dollar has been very choppy during trading on Thursday as we continue to see a noise around the 18.35 MXN level.

The gold market rallied quite significantly during the early hours on Thursday, as we continue to demand quite a bit of support of the $2300 level.

The US dollar has retreated slightly against the Canadian dollar during trading on Thursday, as we are waiting for the crucial Court PCE numbers coming out on Friday.

The British pound has been all over the place against the Japanese yen on Thursday, as we continue to see the Japanese yen get punished.

In today’s analysis, we see that we are dancing around a couple of major moving averages.

In today's EUR/GBP forecast we see more sideways action, but also recognize that we are in major inflection point.

In my daily dollar yen analysis, I see a market that is very bullish.

USD/RUB analysis shows volatility, down 2.7%. Ruble may strengthen further. Watch for Core PCE Price Index on Friday; it could impact the dollar and influence this pair.

In today’s BTC/USD forecast I see price as basically consolidating, perhaps trying to find a floor ahead of a major announcement.

The USD/TRY pair has remained stable during this week's trading, with the lira recovering slightly from its all-time lows against the dollar.

The Japanese yen suddenly fell to its weakest level since 1986, increasing speculation and authorities may soon have to support the currency again to stop the worst selling in the developed world.