The Sterling held relatively well yesterday, considering the bearish fundamentals. The currency outperformed (CHF, USD, CAD) and underperformed (EUR, AUD, NZD) the same number of currencies, while staying unchanged with respect to the Japanese Yen (-0.05%).
Only two major commodities hovered in the green zone on Monday, with corn and silver rallying by 1.25% and 0.2%, correspondingly. At the same time, the traditionally most volatile commodity, natural gas, crashed by 9.8% yesterday, but it failed to drive the benchmark S&P GSCI Index significantly to the downside. A decrease of 0.7% was prompted by oil prices as
Monday trading was traditionally spent in a calm manner, but one currency pair of the Euro still performed stronger than others. EUR/CHF surged by 0.86%, reflecting monetary policy fears of the Swiss National Bank. The SNB can be forced to soften the stance further or protect the Franc from rising, in case the European Central Bank decides to expand the
The US Dollar retained its strong bullish momentum that we saw on Thursday and closed Friday mostly in green.
Performance of the British Pound on Friday was mixed. The currency managed to gain against the Euro (+0.30%), but at the same time the Sterling gave up 0.65 and 0.52% of its value in terms of the Australian and US dollars respectively.
Among the most traded commodities, only corn became more expensive on Friday by gaining 0.4%. Precious metals and Brent oil traded marginally on the red side as their losses did not exceed two tenths of one per cent. On the other hand, a huge 4.2% slump for natural gas and a 1.7% drop for Crude oil provided the pan-market S&P
The Euro continued to underperform major currencies around the world, especially the US and Australian dollars. A decline against them reached 0.8% and 0.9%, respectively. Negative changes versus other currencies used to be weaker in the range of 0.2-0.3%. Markets continued to price in decisions of the European Central Bank to announce a high probability of additional stimulus measures to
The US Dollar appreciated against most major peers on Thursday, with exception against the Kiwi and the Loonie.
The Sterling rallied against some major peers on Thursday, but declined against the others.
Gold traded water and was down by just 0.1% on Thursday, even despite a sharp strengthening of the American Dollar after ultra-dovish announcements by the ECB President Mario Draghi. Prospects of more ECB stimulus bolstered the case of purchasing gold, but also added to struggles for direction due to appreciating US currency.
The Euro tumbled versus any single major currency on the foreign exchange on Thursday, with losses ranging from 0.65% against the Swiss Franc to 3.3% for the New Zealand Dollar.
The US Dollar kept appreciating against most major peers, due to rumours about the Fed raising interest rates in December.
The British currency advanced against most major peers on Wednesday, amid the narrowing between the spending and income in the public sector.
Fossil fuel underperformed the most among all major commodities on Wednesday. Natural gas crashed by 2.9%, while oil prices were down in the range between 1.8% and 2.35% amid a spike in US reserves during the last week. Precious metals failed to avoid a decline as well, with gold and silver tumbling by 0.75% and 1.3%, respectively. Metals were pushed
The Euro was appreciating against all currencies but the US Dollar on Wednesday, even though a decrease versus the latter amounted to just 0.06%. From the other side of the coin, EUR/CAD surged by almost 1.2% after the Bank of Canada's monetary policy meeting. Officials decided to keep interest rates on hold at 0.5%, but highlighted weakness in the domestic
The American Dollar experienced mixed performance, appreciating against some major peers, while declining against the others.
The Pound declined against most major peers on Tuesday, with exception against the Kiwi and the Yen.
No exception was made on Tuesday and all commodities, which are included in our review, posted gains in course of the trading session. Oil has surprisingly rebounded by the end of the day to show a rise of 0.02-0.21%, depending on the exchange where this commodity is trading.
Despite a decrease in oil prices on Tuesday, commodity currencies performed fairly well during the most recent trading session. Among them, the Aussie was unchanged versus the common European currency, while the Canadian Dollar even gained 0.14% against it. On the other hand, the Kiwi plunged the most by 0.7% in its pair with the Euro, but oil prices used
The US Dollar managed to post minor gains against most major peers, with exception against the British Pound.
The Sterling appreciated against other major currencies on Monday.
All major commodities but natural gas depreciated significantly in the beginning of this week. Natural gas was up by 0.5%, while gold declined by around the same percentage amount. Other components tumbled by at least one full percentage point, with losses led by oil prices. Brent and Crude crashed by 3.7% and 2.9%, correspondingly.
The first day of a new week was tranquil in terms of market volatility. The only turbulent currency pair was EUR/CAD, which surged by 0.63% amid rapid changes in Canadian political landscape. According to most recent expectations, the ruling Conservative Party of the Prime Minister Stephen Harper has suffered huge losses at the Federal Election on Monday.
The US Dollar appreciated against most major peers on Friday and over the weekend, amid strong Preliminary UoM Consumer Sentiment figures.