Pip Diddy

Today’s another NFP Friday, so trading conditions were relatively tight and most currency pairs were milling about in tight ranges. The pound and the euro were exceptions, though.

Global trade was the name of the game during the Asian session, as traders price in the U.S. negotiations with major trading partners Canada, China, and maybe even Japan.

It was a relatively quiet day for most major currencies, even with noteworthy moves from the Loonie and yen. Is this the calm before the NFP storm?

The higher-yielding Aussie and Kiwi were both in recovery mode during the session, likely because of the risk-on vibes and rising commodity prices, as well the Greenback’s broad-based weakness.

Another day, another chance to price in global trade and emerging market concerns!

The spotlight was on the Canadian dollar as the BOC decision and NAFTA updates came in play, but the  pound was the biggest mover on the Brexit agreement between the U.K. and Germany.

There were signs that risk aversion was loosening its grip on Europe, so the safe-haven currencies pared some of their gains. And the two currencies that benefited the most from that weakness were the euro and the Kiwi.

Concerns over the U.S.-China trade relations and emerging market economies remained, but that didn’t stop currency bulls from making pips rain today.

Dollar domination was still the name of the game for the rest of the New York session, as the U.S. currency got an extra kick from upbeat ISM manufacturing PMI.

The Greenback and the yen easily trumped their peers, apparently because of safe-haven demand. The higher-yielding Aussie and Kiwi, meanwhile, were the biggest victims of the risk-off vibes.