Forex Daily Forecast, Analysis and Prediction

The 3.9540 ratio in the USD/MYR is being traversed as of this writing, this as the currency pair has responded to greater global risk appetite with a move lower showing its bearish trajectory yet again.

Improving risk sentiment on Iran deal optimism is sending stocks and risk-on assets like the Australian Dollar higher, while the USD is now weakening as inflationary pressure abates.

The NZD/USD is around the 0.59040 level with sustained momentum keeping the currency pair within the upper realm of its week’s results and mid-term loftier values in sight as optimism fuels outlook.

Bitcoin continues to be very noisy in general, as the markets are looking at institutional inflows, but also a lot of uncertainty outside of the market.

The DAX continues to see a lot of noise at the moment, with headlines and interest rates taking front and center stage.

Gold continues to move on interest rates, noise from the headlines, and simple momentum.

The NASDAQ 100 rose again in the early hours of Wednesday, as we continue to see a lot of headlines moving the markets in general.

Silver remains a very noisy place to trade at the moment, as the world continues to throw headlines at traders.

The New Zealand dollar rallied a bit in the early part of the Wednesday session, as we are continuing to watch 8interest rates in America and beyond.

The Euro has risen a bit against the Swiss franc on Wednesday, as the interest rate differentials continue to favor the upside.

The British pound has been very strong as of late, and it looks like we are going to continue to see more of the same soon. However, you will have to keep an eye on the ten-year rates in America.

The Australian dollar rallied against the Japanese yen on Wednesday, as we continue to see a lot of movement in the JPY-denominated crosses.

The US dollar tried to rally on Wednesday, but the Canadian dollar has proven itself to be resilient.

The GBP/USD exchange rate will be in the spotlight later today, April 16, as the UK releases the latest GDP report. The US will also publish more data as traders focus on the developments in the Middle East, where the US and Iran are seeking more talks.

The EUR/USD pair is in a strong uptrend as the US dollar continues its recent downtrend. It rose to the important resistance level at 1.1800, its highest point since February. This rally may continue in the coming days as geopolitical risks ease.