Forex Daily Forecast, Analysis and Prediction

Gold futures ended yesterday's trading sharply lower in light of riskier assets’ recovery, such as stocks.

Ahead of the announcement of the important consumption figures to measure the US inflation, the USD/JPY is moving in a cautious upward correction that pushed it towards the 106.79 resistance in Wednesday morning trading.

Restrictions implemented to slow the spread of the Covid-19 pandemic continue to be eased, as Canada has a relatively low daily infection count.

Bitcoin/USD: The beginning of bearish correction.

USD/JPY: Trend reversal starts.

AUD/USD: Monitoring tensions with China.

GBP/USD: A correction awaits momentum.

EUR/USD: An imminent shift of trend.

While the global economy remains under growing stress from the Covid-19 pandemic, South Africa is set to benefit from the massive stimulus packages implemented by developed countries.

A recent survey of 4,500 Swiss firms by the KOF Institute found 86% of respondents confident about their prospects despite the Covid-19 pandemic.

Manmohan Singh, the former Prime Minister of India, and current leader of the opposition, in an interview with the BBC, outlined three essential steps the government should take to ensure an economic recovery.

The US dollar has rallied rather significantly during the trading session on Tuesday, breaking towards the 50 day EMA.

The Euro initially rallied during the trading session on Tuesday but gave back all of the gains essentially to form a shooting star-shaped candlestick.

The British pound rallied significantly during the trading session on Tuesday, giving back significant gains.

The S&P 500 has initially tried to rally during the trading session on Tuesday, showing signs of strength again but then gave back the gains to show a less than favorable candlestick.