Pip Diddy

With not a lot of major reports scheduled, Asian session forex traders ended up extending market themes from the previous session.

Stronger than expected ADP jobs data and ISM manufacturing PMI gave the U.S. dollar a bit of a boost ahead of this week’s NFP release.

Many currency pairs were bound in tight ranges during the session. Also, most of the currency pairs that showed some volatility didn’t really go anywhere.

The Aussie was the biggest mover of the forex trading session, as it got swept away by the tides of strong Australian reports and weak Chinese data.

Dollar price action was mixed as reports from Uncle Sam barely provided directional clues. In the United Kingdom, more polls indicated a narrowing lead for PM May’s party.

Lots of themes were playing out during the session, with the euro and the Swissy getting buyers right from the get-go. Meanwhile, the pound finally found support after getting whupped during the earlier Asian session. As for the Loonie, it ended up as the worst-performing currency of the session when the Greenback somehow edged out a win near the end.

The pound took another hit during the Asian session as a new election poll hinted that Theresa May’s Conservative Party may get a few seats short of a majority in the Parliament.

The Greenback ticked higher upon seeing the core PCE price index but gave back its intraday gains and more throughout the session as traders turned their attention to weaker Fed rate hike odds in September.

The European currencies fought for the honor of being the one currency to rule them all during the session, with the pound ending up on top. Meanwhile, the yen performed poorly despite the risk-off vibes during the session.

No Chinese markets? No problem! Thanks to a couple of market-moving headlines, there was no lack of volatility for Asian session’s forex traders.