On Monday a robust increase in value was posted by all but two major commodities included in our daily review. We could observe divergence between prices of precious metals as gold was down 0.25% (worst performer), while silver surged as much as 2.6% and turned to be the major beneficiary.
Commodity currencies benefited the most from rising oil prices on Monday, and they all increased in value against the single European currency. The Kiwi surged by 1.2%, while Australian and Canadian dollars were up by 1% and 0.8% versus the Euro. One more depreciating currency pair was the most popular EUR/USD cross, which fell by 0.25%.
The a lot worse-than-anticipated US Non-Farm Payrolls data caused the US Dollar to suffer heavy losses against most major peers.
Despite a rather strong reading of the UK Construction PMI on Friday, the Sterling experienced mixed performance over Friday and the weekend.
Precious metals benefited the most from the weak US non-farm payrolls report. Silver skyrocketed by almost 5%, while gold was up 2.2% after data revealed there were only 142,000 new jobs created by the US economy in September. Moreover, August and July payrolls were both revised down by around 60,000 in total.
The Euro fluctuated in a mixed environment on Friday as neither bulls nor bears managed to dominate market sentiment. EUR/CAD was the biggest daily loser, while the most of influence came from the main USD/CAD currency pair. Canadian Dollar outperformed its US peer after disappointing data showing the US economy added just 142,000 new jobs in September, well below average
The Greenback advanced against some major peers, but declined against the majority of other currencies.
Commodities performed in a fairly bearish way in the past 24 hours of trading as only corn and silver added some positive value of 0.26% and 0.15%, correspondingly. Another precious metal, gold, was down marginally by 0.13%. On the other hand, the most volatile natural gas retreated by 3.6% yesterday, while oil prices decreased by 0.8%-1.4%, depending on the market.
Market movements remained broadly subdued in course of the yesterday's trading session. Only one currency pair, namely EUR/CHF, registered a change of more than 20 basis points as it surged by 0.56%. The Swiss franc was dragged lower by negative production PMI numbers, which revealed a renewed decline of the sector.
The British currency experienced mixed performance on Thursday, as it declined against some major peers, but appreciated versus the others.
The US Dollar experienced mixed performance on Tuesday, as it appreciated against some major peers and declined against the others.
The Sterling sustained rather heavy losses against commodity currencies and other major peers.
Gold demand continued to weaken on Wednesday as the price tanked amid fears the Fed will eventually raise interest rates by the end of this year. The similar scenario was observed with silver prices, which slid 0.85% after gold's retreat of 1.1%. Meanwhile, oil traders were confused amid mixed reports on stockpiles and production. The fossil fuel traded sideways as
The Euro was a top market loser yesterday, while it plummeted to most against commodity currencies including the Kiwi, Loonie and Aussie. These currency pairs fell more than 1% amid risk-seeking sentiment returning to the market on the back of stabilising oil prices. At the same time, other crosses of the common European currency were down in the range of
The US Dollar experienced mixed performance on Tuesday, as it appreciated against some major peers and declined against the others.
The British Pound suffered losses against most major peers, with exception against the Loonie.
Changes in prices of commodities were quite strong on Tuesday, compared with insignificant currency fluctuations. The biggest loser of the day was natural gas, which fell 3.15% after a sharp surge in the preceding day. On the other hand, oil rallied almost 2% in the past 24 hours ahead of US inventory data on Wednesday.
Changes of the Euro against other major currencies did not exceed 0.23% on Tuesday as markets remained broadly calm during the whole trading session amid lack of economic news. A 0.23% rise was posted versus the Canadian Dollar, while the same pace of decline was showed by the EUR/NZD currency pair.
Commodity currencies suffered losses, allowing the US Dollar to appreciate 0.89%, 0.53% and 0.45% versus the Kiwi, the Aussie and the Loonie, respectively.
The Sterling experienced mixed performance on Monday, as it appreciated against some major currencies and declined against the others.
Commodities were predominantly trading to the south on the first day of this week as only natural gas remained in green with a 1.5% positive change in value. Precious metals including gold and silver were down by 1.24% and 3.39%, respectively, as several members of the Fed's Federal Open Market Committee underlined that they want a Fed Funds rate increase
Euro-positive sentiment was spread all across the market on Monday as the 19-nation currency surged against all currencies excluding the safe-haven Japanese Yen (-0.14%) and Swiss Franc (-0.12%). The daily winner was the EUR/NZD cross, which climbed by 1.33% and recovered Friday's losses.
The US Dollar appreciated against most major peers, amid a better-than-expected US Final GDP reading.
On Friday and over the weekend the British currency declined against most major peers, with exception against the Yen and the Swissie.