FX Weekly Recap: January 5 – 9, 2026

Talk about hitting the ground running! If you were hoping to ease into 2026, the market clearly had other plans.

This week was a genuine high-wire act for traders, who found themselves juggling major geopolitical shockwaves from Venezuela against a stacked economic calendar. While the headlines kept everyone glued to their news feeds early on, the focus quickly shifted to the U.S., where traders had to position themselves for Friday’s highly anticipated employment report. It was a classic battle of narratives: would political drama or cold, hard labor data dictate price action?

From geopolitical jitters to inflation misses in Europe, here is the rundown of how the major currencies navigated the chaos.