Pip Diddy

Loonie bulls are banking on an actual OPEC agreement to extend their output deal as Russia expressed its support for a nine-month extension.

Not much on the docket for today’s morning London session, so the themes from the earlier Asian session continued to play out, with the comdolls extending their gains and the yen retreating further.

The Aussie and the Kiwi initially outperformed, thanks to the commodities rally. However, the Loonie later joined the fray on the oil cut deal extension announcement. Meanwhile, North Korea jitters and returning risk-on vibes very likely sapped the yen’s strength during today’s Asian session.

Volatility this week was much tighter compared to last week. With that said, the Swissy and the Kiwi suffered this week while the Greenback ruled all. How about the other currencies? How did they do this week? Well, time to find out!

The tight trading conditions from the earlier Asian session persisted into today’s morning London session, probably because traders are waiting for top-tier U.S. data to be released. There were some movements, though, since the euro found broad-based demand while the Loonie was broadly lower.

Both volatility and directional movement were in short supply during today’s Asian session. The Kiwi was feeling some bearish pressure and got nudged lower across the board, though. The yen, meanwhile, managed to score small wins against all its peers.

U.S. economic figures came in stronger than expected, but these weren’t enough to keep the Greenback’s spirits up as equity indices closed slightly lower.

All eyes were on the pound. And unfortunately, the pound took hard hits across the board during today’s morning London session, thanks (or no thanks) to a slew of poor economic reports and the BOE’s monetary policy statement.

Comdoll bashing was apparently the main theme during today’s Asian session, with the Kiwi getting hit the hardest, thanks to the RBNZ’s rate decision and statement.

Risk appetite seemed to pop its head back in the financial markets as U.S. equities edged higher while crude oil rebounded thanks to a huge reduction in inventories.