The common European currency fell against all of its major peers on Friday of the last week. Among currency pairs, EUR/GBP was hit be bearish pressure the most, as it slid as much as 0.8%. EUR/JPY and EUR/USD followed with losses of around 0.6%. The main catalyst for negative development of the Euro was European GDP statistics, as Germany, France
The US Dollar regained some bullish momentum after the ‘currency war' anxiety was dropped by the PBoC .
The Sterling appreciated against most major peers on Thursday, but remained unchanged against the others as well.
Precious metals dropped more than 0.8% yesterday, as market volatility decreased after China's recent intervention in the currency market, while gold and silver are now focusing back on core fundamentals.
EUR/NZD surged 0.9% on Thursday, as retail sales in New Zealand grew considerably less than expected in the second quarter by just 0.1% on both headline and core basis.
The US Dollar declined dramatically against most major peers, as the rate hike decision was most likely delayed yesterday.
Poor UK Average Earnings Index caused the Sterling to decline against most major peers yesterday.
Both gold and silver were beneficiaries from decisions made by the People's Bank of China in recent days. They were up 1.4% on Wednesday, as devalued Yuan may increase volatility on the markets and create uncertainty over the world economic outlook.
The American Dollar depreciated more than 1% against the Euro on Thursday, as several decisions of the People's Bank of China to devalue the Yuan are raising bets the Federal Reserve will abstain from hiking interest rates next month.
The US Dollar appreciated against most major peers, especially against Asian currencies after the PBoC devalued the Yuan.
The Sterling performed rather well on Tuesday, with exception against the Euro and the Greenback.
Oil prices retreated again, by slipping 2-3% amid increasing production in OPEC countries. Additionally, bears are benefitting from the decision of the People's Bank of China to devalue the Yuan. As a result, Crude spot hit a new five-year low at $43.07 per barrel, while Brent neared the $49 mark.
The Euro was boosted by Greek news on Tuesday, as the crisis-hit country reached an agreement with creditors on conditions of the bailout. However, there were other reasons of the common currency's rise in value. Among them, the People's Bank of China devalued the Yuan, which pushed the Australian Dollar and the Kiwi significantly downwards, namely by 1.6% and 1.2%
One of the FOMC member's, namely Fischer's, statement was quite dovish yesterday, therefore, rising doubts about the September interest rate hike.
The British Pound appreciated against most major peers on Monday, with exception against the Loonie.
Gold prices rallied more than one percentage point on Monday, extending gains above $1,100 per ounce amid dovish comments from the Fed Vice-Chairman Stanley Fisher. He assumed that the Federal Reserve may delay a rate hike, until it sees improving CPI readings.
Most of data published in Japan on Monday disappointed market participants. Therefore, there was a huge sell-off of the Yen against its peers including the Euro, as the EUR/JPY cross jumped 0.76%.
The Greenback experienced mixed performance over Friday and the weekend, as the Bureau of Labor Statistics posted worse-than-expected NFP data.
The Sterling kept suffering losses even on Friday, after less than expected MPC members voted to hike interest rates.
Initial reaction on US non-farm payrolls spurred a substantial drop in gold prices. However, weakness turned to be only short-lived and the metal regained strength to register an overall 0.24% rise on Friday.
Optimistic fundamentals from Canada failed to provide the Loonie with positive momentum in its pair with the Euro. As a result, EUR/CAD cross rallied 0.59% and was outperformed only by the EUR/CHF currency pair, which added 0.6%.
The Greenback experienced mixed performance on Thursday, as it declined against some major peers and appreciated versus the others.
The British Pound was one of the worst-performing currencies on Thursday, as the MPC Official Bank Rate Votes disappointed.
Oil is facing a steep weekly decline, while losses continued to be registered back on Thursday. Crude was down by 1% to trade below the $45 mark, while Brent fell 0.22% and therefore stayed under the level of $50 per barrel. Main reasons for a recent drop in prices are oversupply and strong US Dollar.