The Pound declined against most major peers on Tuesday, with exception against the Kiwi and the Yen.
No exception was made on Tuesday and all commodities, which are included in our review, posted gains in course of the trading session. Oil has surprisingly rebounded by the end of the day to show a rise of 0.02-0.21%, depending on the exchange where this commodity is trading.
Despite a decrease in oil prices on Tuesday, commodity currencies performed fairly well during the most recent trading session. Among them, the Aussie was unchanged versus the common European currency, while the Canadian Dollar even gained 0.14% against it. On the other hand, the Kiwi plunged the most by 0.7% in its pair with the Euro, but oil prices used
The US Dollar managed to post minor gains against most major peers, with exception against the British Pound.
The Sterling appreciated against other major currencies on Monday.
All major commodities but natural gas depreciated significantly in the beginning of this week. Natural gas was up by 0.5%, while gold declined by around the same percentage amount. Other components tumbled by at least one full percentage point, with losses led by oil prices. Brent and Crude crashed by 3.7% and 2.9%, correspondingly.
The first day of a new week was tranquil in terms of market volatility. The only turbulent currency pair was EUR/CAD, which surged by 0.63% amid rapid changes in Canadian political landscape. According to most recent expectations, the ruling Conservative Party of the Prime Minister Stephen Harper has suffered huge losses at the Federal Election on Monday.
The US Dollar appreciated against most major peers on Friday and over the weekend, amid strong Preliminary UoM Consumer Sentiment figures.
The British Pound appreciated against most major peers on Friday and over the weekend, with exception against the US Dollar.
Mixed situation persisted in the commodity markets on Friday of the previous week. Oil prices rallied by more than 1.5% and also pushed the benchmark S&P GSCI Index up by 0.7%. The market was pricing in comments from Russian authorities who do not rule out production cuts ahead of the meeting with OPEC in Vienna this week. Traders also tended
The Euro traded mainly upwards against other majors on Friday. However, the positive tendency was not the case for EUR/USD and EUR/GBP crosses, which were the only ones to depreciate. The American currency benefited from better than projected October consumer sentiment index released by the University of Michigan.
The Greenback experienced mixed performance, amid mixed fundamental data results yesterday.
The Sterling suffered losses against most major peers, with exception against the Euro, where it gained 0.62%.
Almost every major commodity was sold off yesterday. Only Brent crude oil appreciated, but at the same time only by next to nothing 0.08%. Gold also stayed relatively unchanged, but on the other side of zero; the yellow metal fell 0.09%. S&P GSCI, the commodity benchmark, gave up 0.44%.
Absence of scheduled releases on Thursday did not help the Euro. The single currency was the worst performer yestrday, losing between 0.67 and 1.67% against its major counterparts amid prospects of additional easing measures as implied by the European Central Bank Governing Council member Ewald Nowotny. Additional pressure was felt as a result of the risk on sentiment after optimistic
The Greenback declined against other major currencies on worse-than-anticipated fundamental data.
In spite of poor Average Earnings Index and Claimant Count Change readings, the Sterling managed to appreciate against most major peers due to a better-than-expected Unemployment Rate figure.
Gold continues to perform relatively well, and it seems to benefit the most from weakening Greenback, while the rest of the commodities, as represented by S&P GSCI, fail to take advantage of the current situation. The precious metal added as much as 1.31%, slightly less than silver that appreciated by more than 1.3%. Meanwhile, the commodity benchmark edge 0.11% lower.
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%.