Forex Daily Forecast, Analysis and Prediction

U.S. dollar has shown itself to be strong again during the trading session on Monday, at least against the Mexican peso.

The US dollar rallied a bit from the support level during the trading session on Monday as the 83.75 level is considered to be important.

The Canadian dollar has rallied a bit against the Swiss franc during early trading on Monday, and as you can see, we have rallied to reach towards the 0.63 level.

Bitcoin initially tried to rally during the trading session on Monday but gave back gains as we broke above the $65,000 level.

In my daily analysis of the natural gas markets, the first thing I notice is that this asset is struggling overall, as every time we have rallied over the last couple of weeks, we’ve seen the natural gas markets fall.

During the trading session on Monday, in my daily analysis of the EUR/GBP pair, the first thing that I notice is that this asset has been oversold over the last couple of weeks, after being overbought before that.

The silver market rallied significantly during the early hours on Monday, to break above the $30 level.

The euro initially tried to rally during the trading session on Monday but gave back early gains to show signs of hesitation again.

The Turkish Lira depreciated against the US Dollar in early week trading, with the dollar recording new gains despite a global dollar decline.

Recently, the GBP/USD currency pair has risen to its highest level in two years, following Powell's call for a reduction in US interest rates.

The Japanese Yen appreciated last Friday following a statement by Kazuo Ueda, Governor of the Bank of Japan.

At the end of last week, Federal Reserve Chairman Jerome Powell said it was time to cut the US benchmark interest rate, confirming expectations that officials would begin cutting borrowing costs next month and outlining his intention to prevent further slowing in the Labor market.

Gold futures surged last Friday after Federal Reserve Chairman Jerome Powell hinted at upcoming interest rate cuts.

All of last week until Friday, the USD/MXN exhibited waves of increasing nervous buying.

As of this writing the USD/ZAR is near the 17.76670 ratio with fast results being exhibited.