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.
Yesterday the UK currency outperformed all its major counterparts amid strong fundamentals. The British Pound appreciated the most against the Japanese Yen (1.20%) and the least against the Australian Dollar (0.05%).
Despite becoming 1.33% more expensive, gold failed to stay at the top of the list among best performers of Wednesday. Oil and silver traded in green and rallied more than 3% yesterday. Crude and Brent surged 5.2% and 4.1%, respectively, as market consensus suggests the Fed will keep rates unchanged on Thursday.
There were two distinct downward changes of the Euro against other major currencies on Wednesday. A drop versus the Sterling and Australian Dollar amounted to 0.9% and 0.85%, respectively. The Pound appreciated after optimistic labour market fundamentals, which showed the jobless rate falling to 5.5% and wages growing by 2.9% in the three months through July.
Yesterday, the US Dollar was among the currencies that gained the most. While AUD/USD and GBP/USD gave up 0.52 and 0.54%, USD/CHF rose as much as 0.61%.
A second day in a row the British Pound was the second worst performer, though this time after the Swiss Franc instead of the Euro.
Weaker US Dollar helped to raise prices for some commodities, while others failed to gain bullish momentum on Tuesday. Among positive performers, oil climbed by 1%-1.6% yesterday as markets are sceptical about the Fed rate hike tomorrow.
The Euro traded in a mixed environment on Tuesday as changes were predominantly driven by factors influencing other currencies. EUR/CHF gained the most of 0.3% as risk appetite returned to the markets, equities surged across the board and therefore decreased the demand for the safe-haven Swiss Franc.
The US Dollar was neither among the worst performing nor among the best performing currencies yesterday.
Yesterday the Pound was the second worst performer after the Euro, relative to which the Sterling appreciated 0.17%.
The list of commodities, which increased in value, was joined by gold on Monday. Natural gas and corn continued to rally by 1.7% and 1.5%, correspondingly, while the precious metal added 0.4%. On the other hand, oil continued to fall in price as Brent and Crude slid 3.2% and 1.3%, respectively.
The Euro slumped versus all major currencies on Monday. The sharpest drop was registered in the pair with Australian Dollar as the South Pacific currency was driven by political news. A former lawyer and investment banker Malcolm Turnbull became a new Prime Minister of Australia, after defeating the incumbent Tony Abbott in a leadership vote among the Liberal Party MPs.
Along with the Yen, Loonie and Sterling, the US Dollar was among the worst performers on Friday.
While the British Pound gained 0.15% against both the Japanese Yen and the Canadian Dollar, the UK currency stayed relatively unchanged relative to the US Dollar and underperformed with respect to the rest of the major currencies.
Commodities were mostly losing value on Friday as only corn and natural gas advanced by 3.4% and 1.5%, respectively. On the side of losers, oil dropped in the range between 1.1% and 1.5%, while additional bearish risks are increasing. Among them, the major investment bank Goldman Sachs cut its 2016 forecast to $49.50 per barrel, down from the previous expectation
The Euro advanced versus all major currencies on Friday of the previous week. At the same time, the highest increase amounted to just 0.65% against the Japanese Yen and Canadian Dollar, while the slowest pace of growth of just 0.1% was registered in the Euro's pair with the Swiss Franc.
The Sterling appreciated against some major peers, amid the BoE's monetary policy remaining unchanged.
The US Dollar declined against most major peers, amid rather poor fundamental data results.
All commodities booked gains on Thursday, with daily positive changes ranging from 0.35% to 3.17%. Thursday's best performer was oil, which spiked at least 2.5% despite a worse-than-expected advance in US stockpiles, which added 2.6 million barrels last week as economists projected only a 0.9 million barrels' rise.