A parade of top-tier reports from the major economies contributed to a choppy trading environment throughout the week. The U.S. dollar was front and center as traders repriced their Fed interest rate expectations, ultimately taking the top spot thanks to a blockbuster employment update on Friday. The Australian dollar lost tons of pips on weak Chinese PMI, shaky Chinese equities prospects, and Australia’s Q4 CPI supporting a potential RBA rate cut. The euro and the British pound are net lower than their non-USD counterparts as more ECB members supported “sooner than later” rate cuts while the BOE dropped hints of tightening in its February statement.
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