The Euro has given up some earlier gains we had observed back on Wednesday. Yesterday the 19-nation currency depreciated against all of its main counterparts, posting the sharpest drop versus the Aussie and Kiwi. Both South Pacific currencies had their own personal reasons for the appreciation.
The Greenback suffered serious losses against most major peers, caused by a broad USD sell-off during the US trading session.
The Sterling appreciated against most major peers on Wednesday, with exception against the Euro and the Yen.
Energy prices were again the main drivers for the commodity market on Wednesday of this week. Crude and Brent were dampened by supply/demand and continuous OPEC worries and therefore tumbled by 0.93% and 0.37%, respectively. Natural gas followed its peers to show a daily loss of about 0.4%.
EUR/USD advanced the most by 1.22% during the trading session on Wednesday, even despite the lack of any fundamental drivers throughout the session both from the Euro area and US. Germany's trade balance deteriorated in October, but the Euro's spike confirms that this data used to have little impact on the overall state of affairs.
This time the Buck experienced mixed performance over the day, having appreciated mostly against commodity currencies, but declining against the Yen, the Euro and the Swissie.
For the third consecutive time the British currency experienced mixed performance.
Commodity market has somewhat bounced back on Tuesday, even though some noticeable losses were not completely avoided. Natural gas was the only energy commodity to rebound by 0.15%. On the other hand, oil prices continued to hover in red, as the post-OPEC market reaction remains in place.
The small number of important fundamentals from Europe and important data from other countries used to have an overall positive impact on the Euro in the past 24 hours. The common currency jumped by more than one full percentage point against Australian and Canadian dollars, which were hit by a continuous slump of oil prices.
The US Dollar was one of the best-performing currencies on Monday, having advanced against most major peers.
The Pound was in for another day of mixed performance, having appreciated against some major peers, but declining against the others.
A new commodity rout took place on Monday, with both appreciating US currency and supply/demand worries weighing on purchasing activity among investors. Oil prices experienced a major crash on Monday, by sliding down more than 5% on a daily basis.
While the aggregate market was little volatile on Monday, several currencies reflected important developments in other fundamental factors and managed to register much sharper daily changes.
The US Dollar appreciated against most major peers on Friday, boosted by a strong reading of the Non-Farm Payrolls figures.
The Sterling experienced mixed performance on Friday and over the weekend, with insignificant changes against most major peers.
Precious metals traded strongly to the north on Friday of the previous week, while fully reflecting the ECB decision to increase monetary support by less than it had been anticipated. Moreover, the US Dollar weakened considerably after US non-farm employment data, even though the numbers were fairly encouraging.
The Euro corrected lower across the board last Friday, following major gains that the 19-nation currency had made earlier on Thursday of the previous week.
The greenback sustained losses against most major peers in wake of the ECB's statement on Thursday.
The Sterling experienced mixed performance over the day, but, nonetheless, appreciated against most major peers.
Markets were attempting to evaluate the expanded monetary stimulus from the European Central Bank on Thursday. Many of them were disappointed by the fact that the amount of monthly asset purchases is going to be unchanged at 60 billion euros, while the whole QE was extended by only six months through March 2017.
In the vast majority of all cases, yesterday the Euro had its best trading session since 2009. The single currency surged against all G10 currencies, following decisions taken by the European Central Bank. EUR/CAD and EUR/USD skyrocketed by more than 3% in the past 24 hours, as the ECB President Mario Draghi unveiled somewhat less stimulus than it was initially
The Greenback appreciated against most major peers, boosted by a rather strong reading of the ADP Non-Farm Employment Change yesterday.
The British Pound suffered rather heavy losses on Wednesday, falling against most major currencies.
Commodity rout resumed on Wednesday, with all components but gold showing a loss of more than one full percentage point. The bullion has fallen six basis points short of dipping by 1%.