Pip Diddy

Uncle Sam’s strong GDP report translated to gains for the Greenback during the Asian session, though its gains were limited by concerns ahead of today’s OPEC meetings.

Is that a “No deal” for OPEC? Market watchers continued to monitor the developments among the cartel members but it looks like Iran won’t be on board at all.

The pound soared during today’s morning London session, apparently on positive data. Meanwhile, the broad-based retreat in commodities and risk-on vibes respectively took their toll on the Aussie and yen.

Forex price action was a mixed bag of nuts, as market players continue to brace for this week’s top-tier events.

All eyes and ears were on OPEC officials as market watchers tried to look for clues on whether or not the cartel can come up with an output deal in this week’s meeting.

The pound and the euro both got kicked lower during the session. Meanwhile, the commodities rally fueled demand for the comdolls, particularly the Loonie.

The Greenback started the week on a weak note, as a lack of fresh catalyst inspired forex traders to take profits from their long dollar trades.

The yen got another major beat-down for the third week running. The pound, meanwhile, got rejuvenated. The pound still lost out to the Aussie in the end, though. So, what was driving forex price action on the these and the other currencies?

Up down and all around! Price action was both choppy and rather wonky during today’s morning London session. The Loonie noticeably got some broad-based demand, though. The Greenback, meanwhile, suffered a broad-based slide.

Another day, another chance to buy the dollar! Japanese forex traders are back from their holiday today, and they sure didn’t waste time pricing in the latest bullish run on the Greenback!