Why does a currency pair not react or even move in the opposite direction even though a macroeconomic data report should push it up or down?

Asked 4 years ago

Aren't currency pairs related to each other and tend to move together? Why is this not happening?

Forex market Currency rate Currency pair

Andrew Moran

Monday, August 09, 2021

Because the foreign exchange market is an international venue that is highly liquid, currency pairs take into account a diverse array of factors.
While macroeconomic figures should and does have an impact in the broader sense, it might depend on the data. For example, inflation would play a critical role in a currency pair's movement.
That said, current events and political news, international trade balances, stock markets, fiscal and monetary policy, and statistics are just as crucial to forex.