The Euro rallied versus five major currencies Thursday, while declining against two of them. The upcoming Greek referendum on Sunday seems to have a muted effect at the moment, and the currency market shows no uplifted volatility.
EUR/CHF currency pair bounced back yesterday, by gaining the most among all major Euro-crosses on the market, namely 0.62%. This development followed a significant drop of the pair seen on Tuesday.
Yesterday, the single European currency was unusually silent against the majority of its counterparts, while the market waited for the outcome of the Greek drama that ended with no IMF debt repayment last night.
The Euro was showing weakness in the beginning of trading on Monday. However, later this currency appreciated substantially and has even surpassed the Friday high, therefore accumulating an overall 0.62% daily gain versus the US Dollar.
On Friday, the Euro traded in the mixed environment against its biggest counterparts. The main chart, however, does not show a development of the common currency on Monday, when it took a major hit on the markets due to failure to reach an agreement between creditors and Greece.
The 19-nation currency was completely flat against the Greenback on Thursday, as EUR/USD was undecided amid mixed political and economic environment.
On Wednesday, the common currency rallied against the majority of its counterparts, thus surprisingly adding value despite a lack of the progress in Greece's negotiations with its creditors.
The Euro was the biggest loser on Tuesday, while falling against all of major currencies on the foreign exchange.
The common European currency traded strongly on the topside yesterday, following the progress made during Greece-creditors negotiations, as the proposals from Athens were mostly accepted by the institutions.
Despite three consecutive weeks of US Dollar's losses against the single European currency, on Friday the Greenback managed to advance marginally, just by 0.06% versus the Euro.
Recently the New Zealand Dollar has already posted a noticeable drop against the Euro and other majors on the foreign exchange, while yesterday we observed a similar development, as the EUR/NZD cross surged 1.07%.
Yesterday, the single currency posted a 0.8% climb in value against four major currencies all around the world, including the Yen, Aussie, Kiwi and Greenback.
The Euro traded on the downside versus all majors on Tuesday, while losing the most value against the Sterling and Canadian Dollar.
While initially trading on the topside, the Dollar pared gains versus its pan-European counterpart by the end of the session, following disappointing manufacturing production data from the US.
The previous trading week was finished in the mixed environment for the Euro, with the currency trading sideways amid lack of macro news all across the board.
A rate hike from the Reserve Bank of New Zealand has finally been reflected in our most recent review on the common European currency, as the EUR/NZD currency pair surged 2.09% during the past 24 hours.
Despite the Reserve Bank of New Zealand cutting its benchmark interest rate, this decision has not been reflected in our review of the Kiwi's performance yet, and we shall observe major changes only in the tomorrow's report due to differences in time zones.
The common European currency weakened 0.07% against the US Dollar on Tuesday, following a data release on JOLTS jobs in the US, which showed a jump in the number of job openings in June.
The Euro seems to have benefited the most on the first working day of this week, while rallying against all major currencies.
The only currency, which failed to grow in value against the Euro on Friday, was the New Zealand Dollar, as the single currency gained 0.06% versus the Kiwi.
Pressure on the Euro remained in place during the trading session on Thursday. The only substantial positive performance was posted by the EUR/AUD cross, which gained 0.95% amid Australian fundamentals.
The 19-nation currency has gained considerable value on Wednesday, following comments from the European Central Bank's President Mario Draghi.
The single European currency has massively benefited from significantly better than estimated inflation numbers from the Euro zone.
On the first day of summer, the New Zealand's currency managed to erase losses against the Euro that occurred at the end of the previous trading week.