Pip Diddy

Both the euro and Swiss franc take net loses against the majors this week as global risk sentiment swings positive thanks from potential vaccines news and central bank stimulus efforts.

CAD comes out as a net winner thanks to central bank stimulus efforts & positive Coronavirus developments, negating the terrible week for oil prices. 

Without major drivers from NZ, it was all about global risk sentiment & counter currency flows that had NZD net positive going into the weekend.

Positive global risk sentiment & the RBA had traders buying up AUD early in the week, enough to beat most of the major currencies into the weekend. 

Yen bears were in control this week as broad risk sentiment turned positive and net negative Japanese updates likely didn’t help.

Both Canada and the U.S. will be printing their labor market reports during the U.S. session so I thought we should visit USD/CAD’s chart for potential trade opportunities.

It looks like AUD/JPY traders are taking a breather after a quick run higher, but volatility make pick again soon with catalysts ahead from the RBA & Japan. 

With ECB head Lagarde due to give a speech in the London session, I’m hoping to see enough volatility for a pullback on this pair.

In this risk-on environment, downside momentum in EUR/AUD hits the watchlist today ahead of potential catalysts from Australia. 

With the U.S. ADP report only a few hours away, I thought we should take a look at USD/JPY’s retracement opportunity. Here’s my forex chart!