The Euro was weighed down by the bloc's negative fundamentals yesterday, but managed to stay relatively unchanged with respect to most of the currencies because of flight to quality. Poor Chinese inflation figure curbed demand for riskier currencies in the morning, and the US data later in the day strengthened the the risk-off sentiment.
Overall, commodities are out of favour, as demonstrated by one more red day for S&P GSCI, which fell 0.45% yesterday. This does not apply to metals, however: while silver became 0.5% more expensive, gold appreciated 0.43%.
The US Dollar appreciated against most major peers, with exception against the Euro, the Yen and the Swissie.
The British Pound declined against most major peers on Tuesday, due to poor inflation data.
Despite the fundamentals that surprised on the downside, yesterday the Euro became more expensive relative to the majority of its counterparts. The European currency appreciated as much as 1.81% against the Aussie and 1.32% against the New Zealand Dollar. It underperformed only relative to the Swiss Franc (-0.33%) and stayed unchanged in relation to the British Pound (-0.06%).
Yesterday gold was the second best performed after natural gas, advancing more than 0.6% within a day, while at the same time the commodity benchmark S&P GSCI plunged 2.4%.
The US currency declined against most major peers on Monday, as some Fed officials backed the view of a rate hike delay.
The British currency experienced mixed performance on Monday, as it appreciated against some major peers and declined against the others.
The Euro failed to build on Friday's success and keep appreciating like the Australian Dollar. Instead the common currency lost 0.45% against the Kiwi and 0.33% against the Aussie, even though there were no negative fundamentals yesterday.
Precious metals were in great demand on Friday. While silver appreciated 0.93%, the yellow metal gained more than 1.5%, leaving the rest of the commodities far behind. Meanwhile, corn lost the most ground, plummeting almost 2.2% within a single day.
The US Dollar sustained losses against most major currencies, with exception versus the Yen and the Sterling.
The European currency was among Friday's the top performers. It appreciated around 1% against the Yen and the Pound. In terms of bullishness the Euro was second only to the Australian Dollar: EUR/AUD fell 0.34%.
The Sterling declined against most major peers on Friday and over the weekend, amid worse-than-expected Trade Balance figures.
The Fed failed to provide relevant information to this year's possible interest rate hike, which caused the Greenback to decline against other major currencies.
The British Pound suffered losses against most major peers, with the largest ones recorded against the commodity currencies.
Commodities were equally divided between gainers and losers yesterday. The major market maker was oil, which eroded all losses from the previous trading session and skyrocketed by 3.4% on Thursday. At the moment Crude is already hovering above $50 per barrel, while Brent has just surpassed the $54 mark.
EUR/USD was the best performing currency pair on Thursday, helped by Fed meeting minutes released yesterday evening. They revealed worries among FOMC members concerning the inflation outlook and were therefore assumed as rather dovish. This currency pair gained 0.35%, while EUR/JPY followed with a climb of 0.28% due to post-BoJ reaction on decision to keep stimulus amount unchanged. In the
The US Dollar experienced mixed performance on Wednesday, as it appreciated against some major peers and declined against the others.
The Pound appreciated against most major peers on Wednesday, amid a better-than-expected Manufacturing Productions report.
Commodities showed no united trading dynamics during the market session on Wednesday. On the side of gainers, silver and natural gas added 1.1% and 0.2%, accordingly. However, all other commodities traded mainly in red, with oil leading the side of losers. Following a sharp climb in value on Tuesday, oil prices were down up to 1.5% yesterday amid a larger-than-forecasted
The Euro advanced only against the Swiss Franc on Wednesday as risk-seeking market sentiment weakened demand for the safe-haven currency. Oil prices continued to drive commodity currencies to the north, with Kiwi and Aussie registering a daily gain of 1.3% and 0.9%, respectively. The Canadian Dollar, however, rose just 0.13% versus the common European currency.
The Greenback declined against most major currencies, amid a worse-than-anticipated Trade Balance figures.
The Sterling experienced mixed performance on Tuesday, amid the Halifax HPI declining more than anticipated.
Commodities had one of the most bullish days in recent history on Tuesday. Only one of them failed to gain more than one full percentage point. The unconditional leader was oil, which skyrocketed by around 5% on a daily basis. Prices extended their revival due to a plunge in the total number of US rigs.