Pip Diddy

Countercurrency price action weighed on Kiwi last week. Which factors will come into play in the next few days?

USD price action was mixed as counter currency & geopolitical developments had a bigger influence on relative performance than U.S. economic updates.

Sterling took the top spot this week against the major currencies, supported by Johnson’s losing battle on Brexit, positive global risk sentiment & late week news of potential compromises on Brexit.

The euro & franc spent the week mixed ahead of the ECB event, but EUR bulls took control after the statement while CHF stayed pressured on rising positive risk sentiment.

The Loonie ended up in the red across the board on counter currency strength & as oil strength fades on rising supply/falling demand expectations.

The Kiwi spent most of the week in chop city, but ultimately fell into negative territory on counter currency strength and catalysts.

The Aussie comes out as a winner once again on positive U.S.-China trade developments & growing positive global risk sentiment.

The Japanese yen takes a bow to the rest of the majors once again as positive U.S.-China trade war developments continues to lift global risk sentiment. 

The ECB brought the boom to the FX markets today with its latest monetary policy decision, and with risk sentiment swinging positive, EUR/AUD looks like the pair to play into the weekend!

The highly anticipated European Central Bank monetary policy statement is right around the corner, which makes today’s breakout in EUR/USD one to watch.