Pip Diddy

The morning London session was relatively calm, likely because traders were hunkering down for the NFP report. The session wasn’t a complete snooze fest, though, since USD was nudged higher.

With not a lot of data on the docket, Asian session forex traders focused on the NFP report coming up in a few hours.

Another day, another loss for the Greenback! What’s new? Not even stronger than expected economic reports were enough to keep the dollar afloat.

Today’s morning London saw a three-way battle royal between GBP, EUR, and CHF, with EUR ultimately coming out ahead. JPY, meanwhile, was feeling some bearish pressure.

Not a lot of major data on the docket today, although we did see PMI reports from Japan, China, and Australia, as well as a bit of action for the yen.

As expected, the Fed kept interest rates on hold during their January meeting but made some notable changes in their official statement, enough to keep bulls hoping for more hikes later in the year.

AUD and NZD outperformed their peers and were the best-performing currencies of the session, likely because of the risk-on vibes. GBP, meanwhile, got slapped broadly lower when Brexit-related rumors began to make the rounds.

There were tons of market-moving data during the Asian session, which is probably why forex traders showed minimal reaction to the POTUS’ first address.

Risk aversion was the name of the game for the most part of the New York session, leading equity indices and commodities to close in the red, possibly on profit-taking at the end of the month as well.

Price action was a bit wonky during today’s morning London session since USD surrendered its earlier gains while GBP stage a broad-based recovery, even though there were no apparent catalysts for either currencies.