Forex Daily Forecast, Analysis and Prediction

The USD/MYR is trading near the 3.9400 level as of this writing, this after the currency pair swept upwards yesterday after a low of nearly 3.9030 was challenged.

The Australian dollar continues to chop back and forth against the US dollar on Wednesday, as traders are trying to gauge what the risk profile will be ahead of the FOMC.

The big winner here will be the United States, with its almost 14 million barrels of production daily.

The gold market fell early on Wednesday, as the market is waiting to hear from the FOMC later.

The dollar continues to rise against the yen overall, threatening the breaking of a massive barrier.

The South African rand, and other exotics, find themselves on the back foot on Wednesday ahead of the FOMC release.

Bitcoin fell on Wednesday, as traders are continuing to build a bit of a base.

The Euro rose a bit in the early part of the day against the Swiss franc on Wednesday. With this being the case, the markets are trying to price in the idea of SNB intervention, and possibly the pressure on the ECB to raise rates due to inflation via energy.

The Euro rose a bit in the early part of the day against the Swiss franc on Wednesday. With this being the case, the markets are trying to price in the idea of SNB intervention, and possibly the pressure on the ECB to raise rates due to inflation via energy.

One quick look at the chart over the last year tells you just how strong South Korea remains as a choice to Asian exposure.

Nvidia continues to see a lot of noisy action on Wednesday as traders are dealing with strong earnings and financials within the company, but geopolitics continue to be an issue.

The silver market has seen a sharp drop on Wednesday, as traders continue to see a lot of sharp moves, with concerns about industrial demand.

The GBP/USD pair slipped a bit as geopolitical risks rose and after the Federal Reserve delivered its interest rate decision. It was trading at 1.3270 on Thursday, down modestly from the year-to-date high of 1.3866.

The EUR/USD exchange rate pulled back on Thursday morning as investors reacted to the Federal Reserve interest rate decision and the ongoing energy price rally. It dropped to 1.1465, down substantially from the year-to-date high of 1.2085.

The Australian dollar was fairly unchanged on Thursday as energy prices remained elevated amid the Iran war. The AUD/USD pair was trading at 0.7045, down from the year-to-date high of 0.7182 after the Federal Reserve and Reserve Bank of Australia (RBA) interest rate decisions.