Pip Diddy

The U.S. midterm election results continued to weigh down on the Greenback during the session. And the main beneficiaries of the Greenback’s pain were apparently the Aussie and the Kiwi.

The dollar dipped lower after Democrats gained majority in Congress and hinted at tougher times for the Trump admin’s policies.

Market liquidity was relatively thin as most U.S. session traders headed out to vote. The pound staged a bit of recovery in hopes that a Brexit deal was in order, even as Downing Street later on dismissed these rumors. 

AUD and NZD were able to add to their gains despite the skittish risk sentiment, probably because of USD weakness ahead of the U.S. midterm elections. GBP, meanwhile, had a two-way trip because of Brexit-related updates.

There were no fresh catalysts to rock the markets, so Asian session traders were all over the place in the last couple of hours. Which currencies gained and which one lost ground?

Dollar traders seem to be feeling nervous ahead of the U.S. midterm elections since this would gauge confidence in the Trump administration while sterling rebounded on Brexit deal hopes.

Price action was muted during the session, but some themes were playing out, namely CAD strength and CHF weakness. GBP is also noteworthy since it was initially in demand, but was kicked lower by late sellers.

Over the next couple of days, we’ll see not one, but TWO potential catalysts that can dictate the dollar’s intraweek trends. Which one will you most likely trade?

Iran’s sanctions are live this week! How will this, along with other catalysts outside of Canada affect the Loonie’s prices?

The pound soared to the top on speculations that May can secure an all-U.K. customs deal. Meanwhile, equities and higher-yielding currencies slid lower as trade war jitters dragged on risk-taking.