Forex Daily Forecast, Analysis and Prediction

Bitcoin held steady on Monday morning as the recent consolidation continued.

The Australian dollar retreated for four consecutive days, erasing most of the gains made in September.

A resurgent US Dollar boosted by strong US jobs and earnings data last Friday is dragging the price down. The action looks quite heavy and suggests that an attempt will be made to break below the support level at $1.0947.

Last week saw a huge rebound in the Forex market in favour of the US Dollar following very strong US jobs data, although some risky assets, notably stocks and precious metals, held up firmly against the greenback.

Nervousness is the pervading theme in the EUR/USD for the moment and the currency pair went into this weekend near the 1.09750 level.

WTI Crude Oil went into this weekend near its highs as speculative chatter about the conflict in the Middle East clearly drives nervous behavioral sentiment.

Get the weekly Forex forecast for major currency pairs for the week of October 7-12, 2024 here.

During my daily analysis of exotic currency pairs, the US dollar is captured my attention as we continue to see it stretch higher against the Indian rupee.

The ASX 200, one of my favorite global indices, fell a bit during the trading session on Thursday, only to turn around and show signs of life.

In my daily analysis of the commodities markets, the silver market has seen a lot of volatility in back and forth trading.

The market continues to see a lot of noisy behavior, and I think what we have is a scenario where people are using this as a proxy for risk appetite, which of course is something that you would anticipate.

The Canadian dollar has rallied initially during the trading session on Thursday against the Japanese yen, but we have also seen a bit of exhaustion come into the picture.

The S&P 500 initially pulled back just a bit during the early hours on Thursday, only to turn around and show signs of life.

Gold fell a bit during the early hours on Thursday as we continue to see a lot of volatility and chop overall.

The New Zealand dollar broke down a bit during the course of the trading session on Thursday, as it looks like we are going to reach towards the 0.62 level.