Pip Diddy

Retreat, higher-yielders, retreat! The safe-havens claimed victory in the U.S. trading session, thanks to mostly stronger than expected U.S. economic figures.

Risk aversion and commodities dictated forex price action for the most part during the morning London session, so the higher-yielding comdolls ended up getting bushwhacked by the safe-haven currencies, especially the Greenback.

The pound and the comdolls had a good forex trading session, thanks to a less-dovish-than-expected RBA minutes and expectations of a strong U.K. CPI report.

The lack of top-tier releases during the U.S. session left traders hunting for clues from other markets such as commodities. Here’s what you need to know.

Today’s a Monday, with some of the major European markets closed for the day, and the forex calendar was practically empty to boot, so volatility was naturally very subdued. Most currency pairs were milling about in tight ranges, but the Kiwi was clearly on the move.

Forex price action was a mixed bag of beans, as risk sentiment see-sawed all over the place during the Asian session. How did the major currencies perform?

Thanks to mostly stronger than expected economic reports and a bit of risk aversion, the U.S. dollar was able to chalk up gains against its forex rivals.

Price action was a bit choppy during this trading week and directional movement wasn’t very strong, but the Greenback clearly emerged victorious. The yen and the Aussie, meanwhile, were this week’s top losers.

Volatility was in short supply during the morning London session, probably because forex traders were waiting for the U.S. retail sales report to be released (or they just don’t wanna trade during Friday the 13th).

With no major reports on deck, Asian session forex traders caught up to the U.S. session’s themes and set their sights on the upcoming European GDP numbers and U.S. retail sales report.