Thursday was a rather poor day for the Sterling, as it declined against most major peers.
Risk aversion made precious metals the best performing commodities on Friday as both silver and gold climbed more than 2% on day-to-day basis. With uncertainty over global financial markets remaining in place, investors are preferring safe-haven assets including precious metals, Swiss Franc and Japanese Yen.
The Euro spent Thursday by trading mainly to the upside versus other major currencies. However, the strongest performing currency was the New Zealand Dollar yesterday, and the Euro saw a 0.91% against it. Despite widening trade deficit in New Zealand, the country's milk producers raised pay-out projections for the 2015-16 season, which used to be the main trigger for the
The US Dollar advanced against other major currencies, with exception against the Euro, against which it lost 0.59%.
The Sterling remained under pressure for another day, declining against most major peers.
Commodities were divided equally in terms of the number of gainers and losers on Wednesday. On the green side, corn posted a rise of 0.7%. Alongside, both precious metals performed positively during the trading session as gold and silver were up 0.5% and 0.1%, correspondingly.
On Wednesday the Euro skyrocketed versus all major currencies after three days of losses or sluggish growth. Positive changes were in place due to comments from the ECB President Mario Draghi. Analysts suggest he used less dovish language when testifying in the European Parliament yesterday.
The Buck managed to appreciate against most major peers, with exception against the Yen.
The British Pound declined against other major currencies on Tuesday, due to a high budget deficit reading.
There was no unanimity observed among various commodities on Tuesday. Moreover, even different types of oil showed divergence in price changes as Brent rallied 1.15%, while Crude was down 0.3%. Precious metals traded noticeably to the downside, being that appreciating US Dollar is making safe-haven metals less attractive for investment.
The Euro continued to trade in red versus the majority of other currencies on Tuesday. However, some positive changes were posted as well. Among them, EUR/GBP gained 0.4% as data showed UK public sector net borrowing surging to the highest level in three years in August. Spending surpassed revenues by 12.1 billion pounds in the reported month, while economists estimated
The broadly stronger US Dollar advanced against other major currencies on Monday.
The British currency appreciated against most major peers, with exception against the US Dollar, as the hawkish comments of several Fed members strengthened the Buck.
Gold was the worst performer among all major commodities on Monday. It slumped by 0.44% amid strength of the US Dollar, which rallied after hawkish comments from several FOMC members. On the contrary, silver avoided losses and managed to gain 0.1% yesterday. On the positive side, oil prices rebounded 2-3% in the past 24 hours as US oil-rig count fell
The Euro failed to rise versus any single currency for a second day in a row on Monday. The smallest negative change, however, amounted to just 0.04% and 0.06% against EUR/AUD and EUR/NZD, respectively. On the other hand, EUR/USD dropped the most by 0.9%, following hawkish comments from a number of FOMC members who admitted that interest rates should be
The Greenback advanced against most major peers, but still suffered an insignificant loss of 0.07% versus the Yen and 0.17% against the Kiwi.
The Sterling showed mixed performance over Friday and the weekend, declining against most Asian currencies.
Precious metals were the only commodities to rally on Friday of the last week. Gold gained 0.56% and silver traded 0.28% higher, helped by the decision of the Federal Reserve to leave interest rates unchanged for now. Moreover, additional impetus came from updated Federal Funds rate futures, which showed the first hike may take place only in early 2016.
The Euro retreated precipitously on Friday as there was no increase registered versus any of major currencies. The Kiwi rallied 1.14% versus its pan-European counterpart, following a dovish decision of the Fed to keep the Fed Funds rate within the range of 0-0.25%.
The US Dollar added to the losses made on Wednesday. The currency gave up 0.98 and 0.86% of its value relative to the Euro and Swiss Franc respectively.
The Pound showed mixed performance yesterday. While the Sterling outperformed commodity currencies and the Greenback, it depreciated 0.52-0.63% against its European counterparts.
Among researched commodities, only precious metals managed to rally yesterday. The Federal Reserve's decision to hold interest rates unchanged this time pushed silver and gold prices to the north by 1.6% and 1%, respectively. On the contrary, weaker US Dollar failed to lift off oil prices on Thursday as they dropped in the range between 1.2% and 1.7%.
The Euro surged 1% against the US Dollar on Thursday, even though the reaction to the Fed decision could potentially be even stronger. The Federal Open Market Committee decided to keep interest rates unchanged for now, signalling that an increase is still possible this year. On the other hand, the Fed did not announce a press-conference in October, meaning that
Tuesday's gains were negated by yesterday's sell-off across the board. The US Dollar fell 1.09 and 1.04% relative to the Pound and the Aussie respectively.