Pip Diddy

It was a mostly quiet / low volatility week for the Greenback, finishing mixed and arguable net lower despite higher inflation data from the U.S.

GBP was the biggest loser of the week, knocked down by increasing odds of a no-deal Brexit. And it’s likely that the rising cases of coronavirus infections in the U.K. brought pressure to Sterling as well. 

EUR & CHF were beneficiaries of a negative leaning risk environment, & thanks to the European Central Bank, who wasn’t quite ready to talk down the euro’s recent strength.

CAD takes a broad fall this week as traders leaned negative on broad risk sentiment, the economic outlook, and on oil prices.

NZD was a quiet loser on the week, possibly on broad risk sentiment’s lean towards negative, net negative NZ data, & lingering speculation of negative rates coming from the RBNZ. 

With no major catalysts from Australia, AUD price action was driven mainly by global risk sentiment and counter currency flows in a low volatility week. 

Mixed week for the JPY, but ultimately closed as a net winner thanks to negative leaning global risk sentiment and counter currency flows. 

With no major market mover up ahead, will pound bears continue to weigh on GBP/USD? Here’s a setup that I’m looking at today.

Today we’re checking out GBP/CHF as the downside momentum seems to have picked up and the pair tests a major support area. 

EUR/GBP is under the spotlight today as the EU and U.K. representatives hold emergency talks over the latest Brexit drama. Oh, and then there’s that small thing about an ECB policy announcement.