Pip Diddy

Heads up, the Land Down Under has tons of top-tier data in store for us this week! Which one will dictate the Aussie’s intraweek trends?

As of 7:00 am GMT, the Kiwi is the king of pips (or queen if you like), which means that six consecutive weeks of Kiwi weakness will soon come to an end.

Today is another NFP Friday. Even so, trading conditions were rather lively since the euro and the pound were both in demand. The Kiwi, meanwhile, was kicked broadly lower.

A pretty busy day for Asian session traders, as they price in headlines from the previous sessions as well as a few developments from the BOJ and the Korean peninsula.

The U.S. fired the opening salvo on a trade war and it looks like its trade allies have started to retaliate. The Loonie lagged while the franc took most of the risk-off flows.

Risk-taking is still the name of the game in today’s morning London session, so the Kiwi outpaced its peers (again) while the yen got stomped (again). 

The Aussie got a bearish kick when Australia’s CAPEX failed to meet expectations. The pound, meanwhile, was nudged broadly higher to the top spot.

The Loonie got a strong boost from a more upbeat BOC announcement while the dollar and yen were dragged lower by risk-taking.

Recent political developments in Spain and Italy helped likely helped to revive risk appetite. And it was the Kiwi (not the euro) that was apparently the main beneficiary. The yen, meanwhile, was the main casualty.

Renewed concerns over Italy’s political turmoil and uncertainty surrounding Uncle Sam’s trade deals with China kept high-yielding bets on the defensive during the session.