On the day before the UK Bank Rate Votes, the Sterling appreciated against most major peers with exception against the Swissie and US Dollar.
The vast majority of commodities performed in red on Wednesday, while only natural gas added 0.4% and corn was completely unchanged in its price. Precious metals spent another trading session deeply in negative territory amid worries among traders that the Federal Reserve will decide to hike interest rates in December due to encouraging employment growth in October of this year.
The Kiwi was the only currency to depreciate versus the Euro on Wednesday, owing to disappointing employment numbers published back on Tuesday. EUR/NZD gained 0.15%, while other crosses continued to suffer considerable losses due to bullish US fundamentals. As it can be expected, EUR/USD slumped the most by 0.9%, being that unexpectedly rising US ISM Non-Manufacturing PMI surged to 59.1
The US Dollar's performance was quite similar to the Sterling's, as it appreciated against most major peers.
Despite a poor reading of the UK Construction PMI, the Sterling appreciated against most major peers.
Market participants begin to price in the upcoming employment data from the US, which is likely to show the pace of job creation above 150,000 in October. Many analysts name this threshold as the benchmark for the Fed to raise interest rates in December. Therefore, precious metals deteriorated yesterday on the back of rising American Dollar. Gold and silver traded
Only one cross of the Euro gained value on Tuesday, while many of other currencies strengthened on the back of Euro's weakness. EUR/NZD climbed by 0.7%, after the data showed rising jobless rate in New Zealand and a decline in employment in the third quarter of this year. However, analysts expected a positive change in the number of people in
The US Dollar posted solid gains against the Kiwi, gaining 0.48%, while rest of the USD crosses remained relatively unchanged.
The Pound managed to post solid gains (0.40%) only against the New Zealand Dollar, despite a strong reading of the UK Manufacturing PMI.
All commodities traded in red on Monday, with losses ranging from 0.7% for the yellow metal to 2.8% for natural gas. Gold remained under heavy bearish pressure yesterday, reflecting continuous risks that the Federal Reserve will decide to hike rates by the end of this year.
The Euro performed upwards against all but two major currencies on Monday. Moreover, the only losses amounted to just 0.03% versus the Swiss Franc and Australian Dollar. The latter was broadly unchanged, but resumed growing last night amid a decision of the Reserve Bank of Australia to keep the benchmark interest rate unchanged.
The Sterling appreciated against most major peers on Friday and over the weekend, with exception against the commodity currencies.
The US Dollar sustained losses against most major peers on Friday and over the weekend, amid worse-than-expected US fundamental data results.
Bond markets continue to price in the possibility of a December rate increase from the Federal Reserve, which provided bearish impetus for precious metals on Friday. Gold and silver declined by around 0.3% on Friday of previous week. The Fed effect left these commodities with a sharp overall downward weekly change in value. In the meantime, a wave of closures
The American Dollar was down by 0.3% against the Euro on Friday, owing to softer than projected US fundamentals on personal income and spending in September. Both increased by only 0.1% on a monthly basis, down from 0.4% in August and 0.2% expected by economists. On top of that, European statistics encouraged the common currency for additional gains. The core
The Buck failed to retain its bullish momentum against most major currencies, as the GDP figures disappointed.
The British Pound managed to appreciate against most major peers, with exception against the Swiss Franc and the Euro.
Corn was the best performer among all major commodities this Thursday amid speculations over weather conditions in South America, which influence the eventual crop of this commodity. Oil prices were undecided yesterday, being that Crude added 0.3% and Brent slipped by 0.5%. Overall, trading volumes and volatility stayed weak, following uplifted turbulence after publication of US oil stockpiles a day
The Euro eroded Wednesday losses in the past 24 hours, meaning gains were registered versus all major currencies. The Australian Dollar dipped by more than one percentage point versus the 19-nation currency, while being heavily influenced by US GDP numbers and subsequently rising US Dollar.
Except oil, other commodities were mainly trending downwards on Wednesday. The yellow metal was down by almost one full percentage point, even despite initial gains for this commodity. While silver preserved an increase of 0.4%, the rally was hammered by more hawkish than expected stance from the Federal Reserve yesterday. Now a December rate increase is back on the table,
The Federal Reserve pivots towards a rate hike in December. After a two-day meeting the FOMC committee decided to hold the target range for the Federal Funds rate unchanged at 0-0.25%. At the same time, policymakers have dropped a sentence from the statement, which underlined negative impact of global economic events on the US economy. This state of affairs raised
The US Dollar managed to appreciate against most major peers on a hawkish FOMC statement.
The Pound posted gains against most of its major peers, with exception against the US and Canadian Dollars.
Although yesterday's event did not warrant an increase in demand for the US Dollar, the Greenback was the second most bullish currency after the Yen.