Last Friday and over the weekend the British currency experienced mixed performance
Sliding American currency resulted in a rally for precious metals on Friday. Gold and silver booked another trading session with a positive change of more than 1%.
Friday brought us the last portion of crucial fundamentals, just among others that had already been released earlier the same week.
Both the Sterling and the US Dollar are the two worst-performing currencies for a second day in a row.
Yesterday, the British Pound lost the most against its seven major counterparts.
All commodities except precious metals turned red on Thursday, with daily losses led by energy components. Natural gas plunged by 3.24%, as futures continued to trend lower after the US Energy Information Administration said natural gas supplies tumbled during the last week of January.
Markets used to focus on incoming central bank events and some particular fundamentals throughout Thursday, while mostly disregarding speeches among officials.
Although yesterday's economic reports were mixed, the US Dollar turned out to be by far the weakest currency among the majors, losing from 1.33% against the Pound to as much as 2.27% against the New Zealand Dollar.
Although the data on the UK was good yesterday, Pound's bearishness was second only to performance of the US Dollar.
Plummeting US Dollar was supporting completely all commodities throughout the whole trading session on Wednesday.
American currency literally crashed on Wednesday, while dipping by 1.70% against the world's second biggest reserve currency – Euro.
Yesterday, the US Dollar was among the currencies that showed mixed performance, mainly because of a lack of US economic releases.
Despite the weak fundamentals the Sterling performed relatively well on Tuesday, gaining 0.88, 0.61, and 0.34% against the Australian, Canadian, and New Zealand dollars, respectively.
Only corn and gold posted some green movement yesterday, by adding 0.34% and 0.05%, accordingly. Silver ended the session in the red territory, but losses were largely limited at 0.3%.
The Euro registered a generally positive trading session on Tuesday, with only EUR/JPY booking a loss of 0.56%. The Yen resumed gaining value amid risk-off market sentiment, which is pushing the flow of cash into the Japanese currency.
Nearly all the yesterday's news related to the United States were bearish, coming short of the expectations.
Ignoring the fact of a declining US Dollar, energy commodities plummeted more than enough over Monday's trading session.
In anticipation of today's employment and milk price statistics, the New Zealand Dollar decided to start appreciating against the Euro already on Monday of the new week.
The Pound benefited greatly from yesterday's fundamentals. And even though some of the minor ones were below expectations, the manufacturing PMI surprised to the upside.
The US Dollar was able to post relatively solid gains against most major peers on Friday and over the weekend, with exception versus the commodity-based currencies.
The British currency suffered losses against most major peers on Friday and over the weekend.
Friday was a green day for all commodities that are included in our daily review. Even precious metals avoided a decrease in prices, by growing 0.1% for silver and 0.3% for gold. Stock markets and oil prices were supported by the Bank of Japan's interest rate decision.
The Euro continued to appreciate only against the Japanese Yen on Friday, showing gains of 0.94% in the wake of the unexpected decision made by the Bank of Japan to slash interest rates and send them into the negative territory.
Most of the US releases disappointed yesterday, leaving the Greenback among the worst-performing currencies.