Pip Diddy

It was a topsy-turvy trading session for the major currencies, as forex traders priced in risk sentiment and a couple of economic updates.

The U.S. session kicked off with a lot of strong moves thanks to the BOE decision, but traders soon calmed down and allowed dollar pairs to consolidate.

Price action was a bit choppy during today’s morning London session, but the pound spiked higher across the board near the end (while dragging the euro with it), thanks to the BOE’s decision not to cut rates… yet.

Forex price action was a mixed bag of nuts, as traders considered Australia’s jobs data, a surprise announcement from the RBNZ, and a bit of oil price recovery.

All eyes and ears were on the Bank of Canada, as Governor Poloz and his gang of policymakers announced their interest rate decision and updated economic forecasts.

Today’s morning London session was a risk-friendly one, and most commodities staged another rally to boot, so the Kiwi and the Aussie made a comeback while the yen got slapped around. The euro and the pound, meanwhile, were mixed.

A lack of major economic releases and a cooldown of “helicopter money” prospects for Japan weighed on risk sentiment today and knocked the higher-yielding currencies lower across the board.

Most major pairs carried on with their moves from the previous trading sessions, as there were wasn’t much change in market sentiment throughout the day.

Another risk-on session and rallying commodities meant another round of demand for the comdolls. However, they all still lost out to the pound in the end, although comments from BOE Carney were beginning to attracting some pound bears.

Risk appetite is still the name of the game during the Asian session, as optimism over Shinzo Abe’s stimulus program continued to pushed the Asian bourses higher for another day.