Forex Daily Forecast, Analysis and Prediction

During Thursday's session, markets and investors in the FX market will watch the reaction for the announcement of the postponement of the Brexit till the end of October in an attempt by both parties to find a better formula for an agreement between them rather than an anarchic outburst that harms both sides.

Britain's gross domestic product (GDP) growth slowed as expected, while the country's manufacturing sector rebounded, while GBP / USD remained stable between 1.3037 and 1.3122 before settling around 1.3085 at the time of writing in anticipation of a new developments regarding the Brexit impasse.

The USD / CAD resumed rising to the resistance at 1.3345 at the time of writing after bearish correction moves pushed the pair towards 1.3283 support, the lowest for 3 weeks as the Canadian dollar gained stronger momentum from recent strong gains in global crude oil prices.

On Thursday, April 11, 2019, the markets will be interested in the announcements from the economic calendar data, which usually results in changes in price movements.

Central banks announcements - the European Central Bank and the Federal Reserve - of their monetary policy did not support further gains for gold prices because they confirmed their announcements from previous meetings.

Britain's economic growth slowed down, while the manufacturing sector rebounded.

The European Central Bank, as expected, kept interest rates as is and remains concerned that the euro-zone economy will continue to slow down and promises more stimulus if economic conditions worsen more than the current situation, especially if US trade wars continue.

The Euro initially fell during trading after the ECB press conference, but at the end of the day we started to see technical buying at lower levels just as we have in the past.

Bitcoin markets rallied again during the trading session on Wednesday in one of the biggest winning streaks that we’ve seen for some time.

The US dollar went back and forth during the trading session on Wednesday, as we saw a lot of choppiness in the stock markets as well.

The S&P 500 initially pulled back a bit during the trading session on Wednesday, as we continue to chop around overall.

The WTI Crude Oil market had a slightly positive session as we awaited the Federal Reserve Meeting Minutes.

Gold markets rallied a bit during the trading session on Wednesday, after initially dipping.

Get the NZD/USD Forex signal for April 10, 2019 here.

Get the AUD/USD Forex signal for April 10, 2019 here.