Forex Daily Forecast, Analysis and Prediction

The British pound had a nice rally during the trading session on Friday but gave back a significant portion of the gains.

Gold markets have had a tough trading session on Friday, but at one point were rather bullish.

BTC/USD: Weakly bearish

GBP/USD: New 35-year low price last week

EUR/USD: New 2.5-year low price

The West Texas Intermediate Crude Oil market initially tried to rally during the day on Friday, reaching towards the $27.50 level before giving back gains

A rush to liquidity boosted the US Dollar, with the US Federal Reserve pumping trillions into the financial system.

Following the initial UK response to Covid-19, regarded as laid back, the government of Prime Minister Boris Johnson kicked into gear.

After the Reserve Bank of New Zealand announced NZ$30 billion worth of domestic bond purchases, the NZD/CAD was able to complete a double breakout.

Australia announced its initial A$17.6 stimulus, an A$90 billion three-year funding facility created by the Reserve Bank of Australia

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Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of March 23, 2020 here.

Get the weekly Forex forecast for major currency pairs for the week of March 23, 2020 here.

Joining the chorus of interest rate actions, the South African Reserve Bank reduced interest rates to 5.25%, down 100 basis points.

The British pound initially rally during the trading session on Thursday but ran all the way to the 1.18 level before losing a bit of strength.