Market News

Start your trading prep with a quick review of last week’s forex action from my buddy Pip Diddy, an overview of catalysts lined up for the major currencies, and the charts to watch this week.

Looks like the Loonie traded on its counterparts’ price action for another week last week. Will this week’s reports give the Loonie its own direction?

The Greenback started the week strong and maintained its lead across the board last week. Will the dollar extend its gains this week? Let’s take a look at potential catalysts.

Higher-yielding currencies were off to a good start this Asian session even while Japanese banks were closed for National Foundation Day. Some yen pairs gapped up over the weekend.

The euro was still stuck in the losers’ bench last week while the franc had more of a mixed run. Are there any catalysts that could provide better direction this week?

Not even the hawkish BOE was enough to prop sterling higher in last week, so let’s see if the upcoming set of catalysts could convince bulls to charge this time.

Risk aversion, dollar strength, and a less-hawkish-than-expected RBA statement weighed on the Aussie for most of the week. Will this week’s events provide some relief?

The New Zealand dollar struggled to sustain a trend last week. Let’s see if there are enough catalysts for a more consistent intraweek trend this week!

It was all about risk for the yen last week, as it dominated the charts when it blood spilled in Wall Street and in the forex streets. Are there any catalysts that might change its tune this week?

A brief U.S. government shutdown ended on Friday after Congress passed and President Donald Trump signed into law a wide-ranging deal that is expected to push budget deficits into the $1 trillion-a-year zone.

The Canadian economy lost the most jobs in nine years in January, pulling back after a robust 2017 as losses were heaviest in the service sectors, data from Statistics Canada showed on Friday.

Reeling world stock markets took another blow on Friday when Chinese shares sank 4 percent, as concern about rising borrowing costs and soaring volatility put them on course for their worst week since the height of the euro zone crisis.

A post-Brexit transition is “not a given,” the European Union’s Brexit negotiator Michel Barnier warned Britain on Friday, saying London had raised “substantial” issues with the adaptation period as proposed by the bloc.

The pound was in a world of hurt today, thanks to a bunch of disappointing U.K. data. The yen, meanwhile, apparently got a double boost from another bout of risk aversion and the slide in global bond yields. 

As of Friday midnight, the U.S. government has run out of federal funds for the second time in three weeks. However, that didn’t stop higher-yielding currencies from gaining ground across the board.

The U.S. government staggered into another shutdown on Thursday night after an outspoken fiscal conservative in the Senate singlehandedly delayed action by Congress on a stopgap funding bill wrapped up in a massive budget deal.

Oil prices fell for a sixth day on Friday after Iran announced plans to boost production and U.S. crude output hit record highs, adding to concerns about a sharp rise in global supplies.

China’s producer and consumer inflation eased as expected in January, even as global stock markets nosedive on fears that price pressures are slowly building in the United States and Europe.

The spotlight shifted back to Wall Street as traders saw a lot of red once again. Data was light during the New York session so risk sentiment took the forex wheel, but the dollar barely took advantage of safe-haven flows.

The dollar edged higher to a two-week high against a basket of major currencies on Thursday as investors covered some short positions against the greenback on a growing view that the currency’s recent weakness may have gone too far.