Pip Diddy

Forex price action was a mixed bag of nuts, as China’s disappointing economic reports got mixed in with Japanese traders coming back from a holiday.

Crude oil rallies stole the forex show in the U.S. trading session, driving the positively-correlated Loonie higher across the board.

There was nothing major on the docket for today’s morning London session, so forex traders turned mainly to risk sentiment for direction. There was some wonky price action, though, from the Swissy in particular.

A bank holiday in Japan and a lack of fresh catalysts spurred forex traders to extend yesterday’s market themes. Read on to see the major movers of the session.

The U.S. dollar struggled to rebound from its drop earlier in the day before traders turned their attention to the RBNZ statement.

The search for higher-yield and the commodities rally sent both the Aussie and the Kiwi higher during the session. The Greenback, meanwhile, continued to lose out against all its peers.

The Greenback continued to lose pips against its major counterparts, as a lack of catalysts convinced forex traders to extend yesterday’s economic themes.

Rally and reverse! The Greenback was off to a strong start in the U.S. session but quickly erased its recent gains and more.

The pound got another round of pounding during the morning London session, thanks to earlier dovish comments from BOE McCafferty and disappointing trade data.

Risk aversion was the name of the game during the Asian session, as forex traders priced in economic report misses and bearish economic themes.