Pip Diddy

Risk appetite was the name of the game on Monday morning as positive updates from Italy and the United Kingdom kept traders in a good mood.

The risk-on vibes took their toll on CHF and JPY. The rise in oil prices, meanwhile, sent CAD higher not just for the session, but for the day (so far).

The yen took hits as the BOJ showed no signs of tapering, while weekend news from Italy weighed on the euro.

Longer-term traders probably had a bad time this week while shorter-term traders likely had a blast. By the way, can you guess which currency was this week’s top dog?

Price action was choppy today, but the Swissy did get nudged broadly lower while the Aussie and the Kiwi found support.

No major reports printed during the session, so traders mostly closed positions ahead of the weekend and kept the major currencies in tight ranges.

Crude oil continued to advance throughout the session, lifting the positively-correlated Loonie and bringing good vibes for Wall Street.

Today’s morning London session was relatively subdued, although the Loonie did manage to find some buyers, likely because of higher oil prices.

Asian session forex traders mostly traded on a relatively upbeat trading environment despite a lack of catalysts.

Commodity currencies were on the losers’ bench this session as crude oil shrugged off the larger than expected draw in U.S. stockpiles.