Pip Diddy

No data? No problem! The lack of major economic releases didn’t stop several forex pairs from making big moves across the charts in the New York session.

The first morning London session of the week was rather calm, with many currency pairs trading sideways. Loonie and Swissy pairs were on the move, however, with the Loonie showing uniform weakness while the Swissy showed signs of broad-based strength.

Asian session forex traders saw choppy price action today, thanks to a lack of economic reports and a bit of positioning for the days ahead.

This trading week was relatively more subdued when compared to the other week’s trading frenzy. U.S. dollar strength and weakness on the part of the Kiwi and the Aussie were the main themes this trading week.

Today’s morning London session was relatively quiet and price action was mostly choppy. The pound got dumped very hard across the board, though, thanks to the release of Markit’s PMI report.

Risk appetite took a step back, as yesterday’s mixed economic reports and updates caught up to the Asian session forex traders.

The Greenback slid slightly lower against most of its forex peers in the New York trading session but managed to advance against the Loonie. What’s up with that?!

The pound got slapped lower due to a poor retail sales report, dragging the euro lower with it, since the ECB decided to keep its powder dry for now. The euro’s fortunes may change depending on what ECB Draghi has to say in the presser for later, though.

Risk appetite was the name of the game during the Asian session, as details of Japan’s stimulus started circulating in the forex grapevine.

The Greenback’s performance was as mixed as a bag of M&Ms since it advanced to the commodity currencies and Japanese yen but lagged behind its European counterparts.