Despite the fact that the Reserve Bank of New Zealand decided to cut the main interest rate by 25 basis points this morning and the Kiwi surged considerably after that, this development has not been reflected in today's review on currency changes, which are tracking performance of the previous day only.
The data-quiet trading session on Tuesday did not find a reflection in the performance of the Euro against its counterparts. The shared currency showed some decisive moves versus the British Pound and US Dollar, by gaining 1.04% and 0.95% against them, accordingly.
The New Zealand Dollar is appreciating against other global currencies, including the Euro. Economists are waiting for a crucial RBNZ cash-rate decision on Thursday. They expect the regulator to cut the benchmark rate by just 25 basis points, even though markets seem to be pricing a 50 basis points' decrease.
Losses of the Euro against its main counterparts did not exceed 0.5% last Friday. Gains were in turn registered only versus two currencies, namely the Australian Dollar and Swiss Franc by 0.13% and 0.05%, respectively.
The major underperformer among the Euro crosses was the EUR/AUD currency pair, which dropped as much as 1.08% on Thursday. The Australian Dollar was pressed by a number of different factors, but stronger US Dollar weighed this currency the most.
It is worth pointing out the Euro's rally against the Canadian Dollar yesterday. The Loonie remained under intense pressure amid a quite unexpected decision of the Bank of Canada to cut the key interest rate by 25 basis points, down to 0.5%.
Despite disappointing data published yesterday in the UK, the Sterling even managed to rally 0.91% versus the single currency, showing the biggest change among all major crosses of the Euro.
The Euro suffered quite heavy losses against its peers on Monday, despite Greece reaching a long-awaited agreement with its creditors after more than 15 hours of intensive talks.
Waning Greek fears were strongly reflected in the performance of the Euro against its peers on Friday. The 19-nation currency added the most versus the safe-haven Japanese yen, with market participants acquiring the Euro as hope returned that Greece and its creditors will reach a deal by the weekend.
The Euro gave up yesterday against all but one major global currency, while adding 0.12% only in its pair with the Canadian Dollar. In the meantime, it has endured the biggest losses versus the British Pound and Japanese Yen of 0.75% and 0.67%, respectively.
The 19-nation currency rallied 1.25% versus the British Pound yesterday, as the Sterling received a significant bearish impetus after the UK budget announcement.
EUR/JPY was the major loser of Tuesday, as this currency pair tumbled 0.44% and was followed by the EUR/USD cross, which fell 0.41%.
The Euro suffered considerable losses against all but one currency yesterday, while rising only in its currency pair with the Canadian Dollar by 0.12%. Among the biggest losers, EUR/GBP and EUR/JPY retreated 0.75% and 0.67%, respectively. Euro/Dollar cross, however, plunged by 0.52% on Monday.
The common currency rallied against the Australian Dollar on Friday, by jumping as much as 1.76% versus this currency amid disappointing retail sales' data from the South-Pacific country.
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.