Forex Daily Forecast, Analysis and Prediction

Bitcoin price rose slightly this week after the relatively weak US manufacturing PMI numbers and as risky assets rebounded.

The AUD/USD exchange rate rose for three days straight.

The USD/TRY currency pair stabilized at the beginning of this week's trading.

At the end of last week's trading, the Japanese yen stabilized against the US dollar after Japan confirmed that the government intervened in the forex market for the first time since 2022.

Gold futures were little changed to end the shortened trading week due to the US holiday, as financial markets seemingly ignored the latest US inflation report.

Recently, risk appetite has been on the rise following the latest US inflation data while the US dollar has lost ground.

The EUR/USD rose further to touch the $1.088 resistance level at the end of trading last week, its highest level in two weeks, as the divergence between the ECB and Fed's monetary policy paths widened.

The Euro has taken off against the British pound during the trading session on Friday, but it did of course face a few headwinds and it gave back about half the gains.

The Aussie dollar has shown itself to be pretty much nonsensical over the last couple of weeks as we are hanging around the 0.6650 level.

The DAX continues to look for some type of support right around the 18,500 level.

Confidence in financial institutions in India has grown as exit polls regarding the India national election shows that Narendra Modi is set to remain in power with a comfortable majority.

As of this writing the USD/ZAR is near the 18.80050 ratio with sharp fluctuations streaming on to the trading screen.

The greenback has rallied slightly against the Singapore dollar during the trading session on Friday.

The US dollar has rallied again on Friday against the Indian rupee, as we are now testing the ₹83.50 level on Friday.

Bitcoin has been fairly negative during the trading session, but it looks like we are still hanging around the $67,000 level for support.