Pip Diddy

A U.S. stimulus talks and overall risk sentiment sent the yen all over the place last week. Can the safe haven find a clearer direction this week?

Aussie traders are in for a busy week as Australia prints its labor market reports, RBA’s Lowe takes center stage, and China releases a bunch of top-tier reports.

Rate cut talks rained on the Kiwi’s parade last week. Can the bulls find some momentum this week?

USD was a big loser on rising positive risk sentiment, stemming from continued hopes of a stimulus package, as well as positive updates on COVID-19 treatment. 

With no major Brexit breakthroughs or top tier economic updates from the U.K., it was a choppy, low volatility week for the British Pound.

Better-than-expected business sentiment data gave the EUR & CHF an early lift, enough to weather net negative economic updates, Brexit uncertainty & counter currency flows.

CAD was the top major this week, benefitting from a broadly risk-on vibe & rising oil prices, while ignoring mostly disappointing economic updates from Canada. 

The Kiwi dollar had trouble finding any love despite risk-on vibes from the financial markets, indicating it was likely counter currency flows & continued rate cut speculation that held NZD down.

AUD took a beating after the latest Australian government budget report but was able to recover due to hopes of a new U.S. stimulus deal coming soon.

JPY came in as the biggest loser as risk sentiment swung positive, likely due to traders pricing in high hopes of more stimulus coming to help the global recovery.