Due to a poor reading of the UK Manufacturing PMI on Tuesday, the Sterling sustained losses against most major peers, with exception against the commodity-based currencies.
Natural gas, by being the most volatile commodity in our review, revived 2.15% on Tuesday after steep downward changes of more than 6% a day before.
The Australian Dollar crushed by 2.11% against the Euro yesterday, after the Reserve Bank of Australia surprisingly decided to curb the key interest rate to 1.75% from 2%.
The US Dollar sustained losses against all other major currencies, due to a poor reading of the US Manufacturing PMI data yesterday.
The British currency experienced mixed performance on Monday, having appreciated against some major peers, but declined against the others.
Despite much weakened US currency, all major commodities have posted a significant retreat in prices over Monday, the second day of May. Natural gas was down the most by more than 6%, with contracts for delivery in June losing attractiveness in the wake of warmer US weather forecasts.
The Euro remained on the topside against all major currencies but the Australian Dollar (-0.07%), although a considerable surge with respect to this South Pacific currency is expected on Tuesday amid a decision of the Reserve Bank of Australia to cut interest rates by 25 basis points.
The US Dollar's performance on Friday and over the weekend was almost identical to the British Pound's, with the exception of the Cable edging 0.03% higher.
The Sterling ended the previous week with losses against most major peers, although some gains were registered against most commodity currencies and the Buck.
Precious metals and natural gas were all bid on the last trading day of April, as the rally was prompted by dampened US currency in the wake of disappointing fundamentals and generally risk-off market sentiment.
With growing risk-averse market sentiment and declining oil prices, the Euro turned to become one of the best-performing currencies on Friday of the previous week.
Although the US Annualized GDP data disappointed yesterday, the Greenback was able to limit the losses against major peers.
The British currency remained relatively unchanged against most major peers on Thursday for the second day, with the only severe loss of 2.56% registered against the Japanese Yen, amid the BoJ's unexpected decision to leave monetary policy unchanged.
Inaction of US and Japanese central banks weighed on the Greenback yesterday, while the sell-off is continuing to take place at the moment.
The Japanese Yen posted a colossal 2.77% spike in value against the Euro on Thursday after the Bank of Japan decided to stay on hold and keep interest rates unchanged. Along with that, the QE programme's volume remained stable at 80 trillion yen per year.
The US Dollar experienced mixed performance, but with gains or losses being rather mild.
The Sterling struggled to post gains against other major currencies on Wednesday, but experienced losses were not as severe, as they were anticipated.
Provided with somewhat weaker US Dollar and notwithstanding an advance in US oil inventories to the highest level ever, oil futures added around 3% on Wednesday.
Wednesday was fully packed with different fundamental data releases and statistical development around the globe helped the Euro to become one of the best-performing currencies across the board.
The US Dollar declined against most major currencies on Tuesday, as the Durable and Core Durable Goods Orders data turned out to be worse than anticipated.
On Tuesday the Pound prolonged its gains across all other major currencies, but struggling to outperform the commodity-based ones.
Energy prices diverged on Tuesday, with oil adding about 3% on a daily basis and natural gas leading the loss side of the equation with a slide of 1.5%.
All data but US Services PMI was largely disappointing on Tuesday, taking into consideration major regions worldwide. Europe has not been the largest data generator, with only some speeches of ECB officials included in the economic calendar.
The Greenback weakened against most major peers on Monday, as a result of a poor reading of the US New Home Sales.