Pip Diddy

Forex price action was a mixed bag of nuts, as profit-taking got mixed in with a bit of risk appetite. Here’s what the traders are looking at.

The Loonie was the start of the show, as it got a boost from the BOC interest rate decision and the drop in crude oil inventories. Here’s what happened.

Forex price action during the morning London session was determined by commodities and risk sentiment for the most part. Although the pound also got a bullish boost due to lower odds of a Brexit.

Risk-taking was the name of the game during the Asian session, as forex traders priced in optimism from the U.S. session as well as other news from the major economies.

Improved risk appetite forced the safe-haven dollar to return some of its recent wins but it still managed to close higher against the euro and yen.

Risk sentiment was still the main driving force for forex price action during today’s morning London session, but there was also some wonky price action, namely from the pound and the Aussie.

Ho-hum. Thanks to a lack of major economic reports, Asian session forex traders took their cues from the U.S. markets as well as the RBA Governor’s latest speech.

The Greenback’s performance was as mixed as a bag of M&Ms when it strengthened against the comdolls and European currencies but gave up ground to the yen.

Looks like forex price action during Monday’s morning London session was being driven by risk sentiment. And since risk aversion was the dominant sentiment, the safe-haven currencies ended up using the higher-yielding comdolls to mop the floor.

The Greenback started the day on a weak footing, as profit-taking from last week’s moves dominated the Asian forex trading session.