Fresh-Forexcast2004

Fresh-Forexcast2004

USDJPY: The Japanese yen (JPY) declined slightly against the US dollar (USD) on Wednesday. However, conflicting outlooks from the Bank of Japan (BoJ) and the Federal Reserve (Fed) are putting downward pressure on the USD/JPY pair. Bank of Japan Governor Kazuo Ueda told parliament on Friday that the central bank may consider further interest rate hikes if its...

Fresh-Forexcast2004

At the start of the new trading week, the GBP/USD exchange rate saw a slight decline, falling below 1.32000 on Monday. This marks the end of a seven-day winning streak that saw the pair rise more than 3% from 1.28000 to a 29-month high of 1.32300. UK markets were closed on Monday due to a bank holiday, which had the effect of reducing the volume of sterling flows...

Fresh-Forexcast2004

The EUR/USD pair continues to rise for the second session, trading near 1.11900 during the Asian session on Monday. The rise in EUR/USD is attributed to the decline in the US dollar following a dovish speech by US Federal Reserve (Fed) Chairman Jerome Powell at a symposium in Jackson Hole on Friday. Fed Chairman Jerome Powell stated, “The time has come for policy...

Fresh-Forexcast2004

An event to look out for today: 17:00 GMT+3. USD - Jerome Powell, Chairman of the Federal Reserve Board of Governors, will deliver a speech USDJPY: The Japanese Yen (JPY) is strengthening against the US Dollar (USD) following the release of inflation data and Bank of Japan Governor Kazuo Ueda's speech to Parliament on Friday. Ueda stated that ‘the Bank of...

Fresh-Forexcast2004

Gold prices (XAUUSD) have reached a new all-time high, surpassing $2,550 per ounce for the first time in history. Our long-term forecast from April 18, 2024, is coming true, with gold rising over $120 per ounce and steadily pushing towards new records! Factors driving gold prices and expert opinions: - Major central bank purchases: Gold prices are rising...

Fresh-Forexcast2004

Events to watch out for today: 11:30 GMT+3. GBP - Composite PMI 15:30 GMT+3. USD - Number of Initial Jobless Claims 16:45 GMT+3. USD - Composite PMI GBPUSD: The GBP/USD pair broke above the 1.3100 price level on Wednesday. The pair is heading towards fresh 13-month highs, having set a peak intraday price at 1.3112, and sterling is threatening to reach its...

Fresh-Forexcast2004

An event to look out for today: 21:00 GMT+3. USD - Publication of the Fed meeting minutes USDJPY: The Japanese Yen (JPY) declined against the US Dollar (USD) following the release of trade balance data on Wednesday. However, the yen's decline may be limited due to the growing likelihood of another interest rate hike in the near future. Traders are also...

Fresh-Forexcast2004

GBPUSD: GBP/USD rose by a third of a percent after the US dollar continued to retreat. US Dollar flows extended a short-term reversal in the exchange rate as investors brushed off the recent downturn in market sentiment. Troubled data from the US reignited investor fears of an impending recession in the US. The middle of the week is quiet as markets await the...

Fresh-Forexcast2004

EURUSD: EUR/USD is climbing to year-to-date highs having reached 1.1040 in the early European session on Monday. The decline in the US Dollar (USD) amid growing speculation that the Federal Reserve (Fed) will cut interest rates in September provides some support for the major pair. Traders will be keeping a close eye on Fed Chairman Jerome Powell's speech on...

Fresh-Forexcast2004

The Japanese Yen (JPY) bounced back against the US Dollar (USD) on Friday, possibly due to Japan's recent second quarter GDP growth, which supports the possibility of a Bank of Japan (BoJ) interest rate hike in the near future. However, the Yen could face challenges from political uncertainty in Japan due to reports that Prime Minister Fumio Kishida will not seek...

Fresh-Forexcast2004

Events to watch out for today: 09:00 GMT+3. GBP - GDP Volume Change 15:30 GMT+3. USD - Change in retail trade volume GBPUSD: GBP/USD retreated and fell below 1.28500 on Wednesday after Consumer Price Index (CPI) inflation fell on both sides of the Atlantic, breaking the Pound's four-day winning streak. Traders will be awaiting UK gross domestic product...

Fresh-Forexcast2004

The Euro-dollar pair is trading on a flat note near 1.09900 in the early European session on Wednesday. Traders are opting for a wait-and-see approach ahead of important economic data releases from the Eurozone and the US. Keep a close eye on the Eurozone's gross domestic product (GDP) for the second quarter (Q2) and the US consumer price index (CPI) for...

Fresh-Forexcast2004

The Japanese yen (JPY) continues to lose ground against the US dollar (USD) on Tuesday. Safe-haven currency flows may limit the yen's decline, which could be linked to rising geopolitical tensions in the Middle East. A special session of the Japanese parliament is scheduled for August 23 to discuss the Bank of Japan's (BoJ) decision to raise interest rates last...

Fresh-Forexcast2004

USDJPY: Former Bank of Japan (BoJ) board member Makoto Sakurai said the central bank will not be able to raise rates in 2024, and predicts a rate hike in March 2025, citing recent market turmoil and the low probability of a quick economic recovery. This comes on top of recent dovish remarks by Bank of Japan Deputy Governor Shin'ichi Uchida stating that the...

Fresh-Forexcast2004

GBPUSD: The GBP/USD pair is developing on the back of a good bounce from the 1.2665 area, a five-week low, and is gaining positive momentum for the second day in a row. This momentum is lifting spot prices above the mid-1.2700s during the Asian session and is supported by a modest decline in the US Dollar (USD). As investors ignore Thursday's encouraging US...

Fresh-Forexcast2004

Following the lead of other tech giants like NVIDIA, which we covered in May, MicroStrategy has decided to make its shares more accessible to investors. The company recently announced a 10-to-1 stock split, and trading at the adjusted price begins today, August 8! Today's business world cannot function without in-depth analysis of vast amounts of data. Founded...

Fresh-Forexcast2004

The Euro-dollar pair bounced back towards 1.0935, breaking a two-day losing streak during Asian trading on Thursday. A softer US dollar (USD) is providing some support to the major pair. Nevertheless, risk-off sentiment may limit EUR/USD gains amid escalating geopolitical risks. Later in the day, the weekly US initial jobless claims report will be released. Last...

Fresh-Forexcast2004

The Japanese Yen (JPY) continues to lose ground against the US Dollar (USD) for the second consecutive day. This decline can be attributed to comments from Bank of Japan (BoJ) Deputy Governor Shinichi Uchida on Wednesday: "We will not raise rates when markets are unstable," according to Reuters. Deputy Governor Uchida also noted that the BoJ's interest rate...