Corn was the only commodity included in this review to add value on Monday, May 24. While growing 0.82%, it curbed the overall daily drop of the benchmark S&P GSCI Index and narrowed it to 0.66%.
Except for the Japanese Yen, the FX market has been relatively calm on the first day of this week. The most silent cross was EUR/USD, which lost just 0.04% despite a broad presence of speakers from the Federal Open Market Committee.
The US Dollar experienced mixed performance over the weekend, with the largest gain of 0.77% registered against the British Pound.
The Sterling ended the week with poor performance, having sustained rather serious losses against all other major currencies.
Gold and oil futures dipped on Friday of the previous week; however, trading session used to be quiet and changes turned to be narrow.
Largely positive statistics from the Euro area resulted in gains for the common currency on Friday of the previous week.
The Greenback appreciated against most major peers on Thursday, but also sustained losses against the others, amid a poor reading of the Philly Fed Manufacturing Index.
A positive reading of the UK Retail Sales data yesterday caused the Sterling to outperform most major peers.
In the aftermath of the release of US gas storage report, futures for this energy component jumped by 1.9%. Natural gas was the only commodity to gain value, while silver and corn in turn depreciated the most.
Five out of seven major currency pairs with the Euro were down on Thursday. Only EUR/CAD added 0.34%, while EUR/CHF appreciated by 0.17%.
Even though the FOMC Meeting Minutes boosted the US Dollar on Wednesday, it still struggled to post substantial gains against most major peers.
After another day the Sterling skyrocketed against most major peers, amid surprise EU referendum polls showing that the majority is voting for the ‘Bremain' camp.
Oil markets were shocked by increasing US inventories, after the data from the Energy Information Administration was released on Wednesday.
The US Federal Reserve turned hawkish in its accounts of the April meeting. While some members of the FOMC committee are still worried about downside risks to the economy, the general view across the table suggests that the policymakers are getting ready to hike interest rates next month, if economic data continues to be solid.
The second day of the given week was also not positive for the American Dollar, as it suffered rather sharp losses against some major peers, while gains against the others were only mild.
'Bremain' votes kept providing support for the British currency on Tuesday, causing it to post gains across the board, even despite poor inflation figures.
Commodity markets were more or less stable on Tuesday, as all components posted gradual growth with no extreme deviations from the norm.
Encouraging US consumer price figures prompted some weakness in terms of the Euro's value against the Greenback on Tuesday.
The Greenback began the week with rather poor performance, as losses were detected against the majority of other peers, with exception against the Yen and the Swiss Franc, against which the Buck lost 0.37% and 0.22%, respectively.
Hopes of the UK remaining in Europe provided support for the British currency on Monday, helping it outperform most major peers.
Oil supply disruptions in Canada and Nigeria are raising the likelihood of an easing supply glut. It continues to provide bullish impetus to the futures, as Crude added 3.27% and Brent hiked 2.38% yesterday.
Potential intervention of the Bank of Japan has negatively weighed on the national currency of this country. Speculations sent the Yen down by 0.46% against the Euro.
A positive reading of the US Retail Sales and the PPI data caused the American Dollar to outperform most of other major currencies on Friday and over the weekend.
The Sterling failed to outperform other major currencies on Friday and over the weekend, with rather sharp losses detected against the Yen and the US Dollar.