Forex Daily Forecast, Analysis and Prediction

The USD/MXN quickly recovered its equilibrium and went into the weekend near values it was traversing last Tuesday.

The Australian dollar plunged overnight as we continue to see a lot of US dollar strength in general.

The market is kind of hanging around just above the 11 Norwegian Krona level. And I think at this point, we continue to go sideways.

The US dollar initially plunged overnight against the Japanese yen as the Israelis attacked the Iranians.

The Nasdaq 100 fell rather hard during the early hours on Friday as the Israelis attacked the Iranians and of course you can expect a lot of people ran for cover.

Gold rallied a bit during the trading session on Friday, which is not a huge surprise considering that it's been in an uptrend.

The British Pound initially tried to rally a bit against the US dollar during the trading session on Friday, but then plunged as Israel attacked Iran.

The British pound continued its strong sell-off on Monday morning as all signs pointed to a Bank of England (BoE) rate cut as soon as in its next meeting.

The EUR/USD pair stabilized last week.

Bitcoin price held steady on Monday after the network went through its fourth halving during the weekend.

The Australian dollar was flat against the greenback on Monday morning as traders refocused on Australia’s inflation report.

The EUR/USD finished the week of trading near the 1.06520 mark, on last Monday the EUR/USD also was around this price vicinity.

Hawkish remarks from Fed Chair Powell and ongoing tension in the Middle East saw the US Dollar continue to gain while stocks and most commodities sold off firmly, excepting precious metals.

The price of WTI Crude Oil started last week around the 85.000 ratio, this after the previous weekend’s loud developments between Iran and Israel.

Get the weekly Forex forecast for major currency pairs for the week of April 22-27, 2024 here.