As expected the OPEC meeting in Doha failed to produce any viable consensus. It's everyone for themselves and the end result of limiting oil production to stabilize falling prices may be far off. Expect continued volatility in stocks and currencies as the oil debate rages on. As oil futures continue to whipsaw day in and day out the price of stocks and currencies will follow suit.
A big gap up in USD CAD and a gap down in AUD USD on Sunday night at the opening of the Forex session for this week was not unexpected. Oil related commodity currencies continue to move as volatility increases.