Forex Daily Forecast, Analysis and Prediction

Silver markets broke down after initially trying to rally on Thursday as the market has been all over the place.

The West Texas Intermediate Crude Oil market fell again during the trading session on Thursday, reaching down towards the $30 level.

Gold markets initially tried to rally on Thursday, reaching towards the $1550 level, before bouncing slightly at the end of the session.

Bitcoin markets got absolutely slaughtered during the trading session on Thursday, basically falling as soon as the day started.

Since the Crypto Winter of 2018, a significant inflow of institutional capital inflamed a strong rally.

Liquidity started to become an issue across the global financial system, and the US Dollar rallied despite the US Federal Reserve’s panic-cut of 50 basis points.

South Africa has limited options to stimulate its troubled economy through Covid-19 and the collapse in oil prices.

Singapore emerged as one of the leading countries to combat the Covid-19 pandemic.

Following a sell-off in this precious metal, related to immediate cash requirements by a growing number of portfolio managers to meet margin calls

The persistence of global concerns about the negative impact on global economic growth from the continued outbreak of the Corona epidemic.

The recent corrections of gold price pushed it towards the $1631 support before settling around the $1636 level at the time of writing, awaiting for the return of buyers.

AUD/USD: Important bearish breakdown below 0.6450

Despite the massive stimulus plans announced by the British government and the Bank of England in a unified coordination between them yesterday, the price of the GBP/USD pair continued to drop to the threshold of the 1.2800 psychological support.

All eyes are watching carefully for the decisions that the European Central Bank will announce today to stimulate the European economy in the face of the Corona epidemic consequences in the E.U led by Italy.

USD/JPY: Important Forex pair to watch