Forex Daily Forecast, Analysis and Prediction

The NASDAQ 100 fell during the trading session on Friday as we continue to see a lot of volatility in stock indices around the world.

The silver markets initially tried to rally during the trading session on Friday but pulled back a bit as the $15 level above continues to loom large.

The S&P 500 has gone back and forth during the trading session on Friday, essentially ignoring the loss of 701,000 jobs during the month of March,

Gold markets rallied a bit during the trading session on Friday after initially pulling back.

The West Texas Intermediate Crude Oil market has rallied again to close out the week on Friday, but most of that rally is probably do more to short covering than anything else.

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Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of April 6, 2020 here.

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Gold remains the primary safe-haven asset, but silver allows traders to diversify portfolios and hedge Forex positions in a less crowded trade.

Over the past two weeks, the US saw initial jobless claims surge by roughly ten million due to the global Covid-19 pandemic.

Australian construction and service sector data showed deep recessionary readings, but retail sales for February came in better than expected.

New Zealand’s Finance Minister Robertson warned the economic fallout from Covid-19 will by far surpass that of the 2008 global financial crisis.

The S&P 500 had a wild session during the day on Thursday, as it initially looked like we were going to fall apart after the initial jobless claims

The British pound has rallied a bit during the trading session on Friday to show signs of strength before turning around to form a shooting star like candlestick.

The Australian dollar has gone back and forth during the trading session on Thursday and what could best be described as choppy and pointless trading.