Pip Diddy

After dropping hard earlier, the euro staged a broad-based and rapid recovery (and then some) during the morning London session. Returning risk appetite, meanwhile, resulted in the yen getting slapped lower.

Forex market players started the week with a bang, as they saw not one, but TWO Prime Ministers resign during the trading session.

There were three main themes this trading week: another week of pound strength, demand for the Loonie, and yet another fun week of yen bashing. So, what was driving forex price action on these and the other currencies?

Trading conditions were rather tight during today’s morning London session, likely because forex traders were hunkering down for the last NFP report before the December FOMC statement.

The Greenback took a step back against its major counterparts, as Asian session forex traders took profits before the NFP report release. Here’s what’s up!

The Greenback was in a weak spot against its forex rivals as U.S. equities closed mostly lower, even though economic data wasn’t all that bad.

Directional movement was rather limited for many pairs during today’s morning London forex session. However, the pound and the Swissy were very clearly on the move. What’s up with that?

Forex price action was a mixed bag of nuts, as risk-taking got mixed in with a bit of profit-taking ahead of this week’s other major reports.

Surprise, surprise! OPEC officials decided to put their differences aside and shake hands on its first production cut in eight years.

There was some rather wonky price action during today’s morning London session. However, the Loonie clearly reigned supreme, thanks to surging oil prices. Another round of risk-taking, meanwhile, meant that the safe-haven yen got the boot yet again.