Pip Diddy

Lots of action in this week’s first morning London session, with the euro in retreat, the pound mostly higher, and decent two-way action on the Swissy.

The dollar extended its weakness against its major counterparts, as Asian session forex traders caught up to their U.S. and European counterparts.

Last week’s main themes continued to play out this week, so the euro is still the one currency to rule them, with the Greenback in second place. The Kiwi, meanwhile, got another smack-down. So, what drove price action on these currencies? And how did the other currencies fare?

All was calm in the forex front, as both volatility and directional movement got sapped ahead of the NFP report. The only currency worth noting is the euro, since it was broadly higher against its peers.

The dollar’s price action was a mixed bag of nuts, as risk appetite got mixed in with a bit of profit-taking ahead of today’s NFP release.

All eyes and ears were or ECB head honcho Mario Draghi as he held a presser after their rate decision and announced a few key changes.

The euro was the top-performing currency during today’s morning London session. Although that may change, since market players are now waiting for the ECB’s presser. The Loonie, meanwhile, got dragged lower by another day of plunging oil prices.

Ho-hum. Forex price action was as exciting as watching water boil, as a lack of economic catalysts kept Asian session traders in the sidelines ahead of the ECB statement.

The Greenback was the king of pips once more, thanks to upbeat NFP expectations and stronger odds of a Fed rate hike this month.

Today was another choppy and relatively subdued morning London session. There was some action, though, since the Swissy and the Greenback were in demand. The pound, meanwhile, was broadly weaker before getting a bullish infusion when the session was about to end.