The British currency experienced mixed performance on Friday and over the weekend, mostly sustaining losses against commodity-based currencies.
All commodities except gold posted a considerable increase in prices on March 4. The bullion was seen under bearish pressure amid a return of risky sentiment.
Friday brought us a very limited set of economic data; however, all available statistics was important enough in order to move markets throughout the last day of the previous week.
Another set of weak fundamental data caused the Greenback to sustain losses against most of other major currencies yesterday.
The Sterling retained most of its strength from Wednesday, thus, managing to outperform most major currencies on Thursday.
Futures of natural gas are heading for multi-decade lows amid heavy global oversupply. Yesterday this component continued to show a drop in prices of 2.32%, while being joined by Crude oil on the side of losers.
The Euro recovered the most against the Japanese Yen on Thursday by 1%, as rising appetite with respect to risk is decreasing inflow of funds into the world's main safe-haven currency.
Another day of positive data, but bad performance from the Greenback's side. .
With no certain news concerning the Brexit, investors took long Pound positions, pushing the Sterling-crosses higher.
The only commodity to depreciate on Wednesday was natural gas, which slid by almost 4% in the wake of waning demand from Japan, the world's third largest economy.
Rising risk appetite, climbing stock and commodity markets forced the Euro to continue losing value in the middle of this week.
In spite of better-than-expected US Manufacturing figures, the Buck struggled to outperform other major currencies.
Despite rather pessimistic UK Manufacturing PMI data yesterday, the British currency managed to remain afloat against most major peers, with exception against commodity-based currencies.
The pan-market S&P GSCI index (+0.36%) had some growth challenges yesterday, as some particular components were moving lower amid higher risk appetite across the board.
The only currency against which the Euro posted a confident climb on Tuesday was the Japanese Yen.
The US currency experienced mixed performance over the day, as US Chicago PMI and the US Pending Homes Sales figures disappointed yesterday.
The Sterling posted gains against most of other major currencies at the beginning of the week, with exception against the Yen.
Oil prices moved notably higher on Monday and finished the first trading session of this week with a climb of about 3%.
Data from the Euro zone has considerably missed market expectations on Monday, as inflation in the common currency area slumped back into the negative territory of -0.2% in February.
Amid a strong reading of the US GDP, the Greenback was able to post solid gains against most major currencies, with exception against the Loonie.
The British Pound managed to outperform four out of seven of other major currencies.
Without any fundamental and other major drivers, oil prices failed to prolong the streak of gains on Friday.
The US Dollar experienced an inflow of funds on Friday on the back of very optimistic fundamentals across the board. The world's largest economy added 1% in the last three months of 2015, according to the preliminary (second) estimate.
Gold builds on yesterday's gains on Friday despite a rebound in equities, supported by continuous money flows into exchange traded funds and safe-haven appeal.