The Euro traded in a mixed environment on Tuesday. EUR/AUD surged the most by 0.81%, even though there were no influential fundamentals from Australia, while oil prices have finally showed some rebound yesterday.
The US Dollar weakened against some major peers, amid the Chinese stock market turmoil, while strengthening against the broadly weaker commodity currencies.
The UK Pound experienced mixed performance over the day, appreciating against commodity currencies, including the US Dollar, and also declining against other major peers.
Gold was down 0.8% on Monday, as markets assume lower oil prices can negatively affect inflation both in developed and emerging markets. Consumer prices are in turn acting as a fundamental factor for the precious metal. Meanwhile, oil continued to tumble, as losses were sometimes extending below 6%. However, Brent finished the trading session with a decrease of 5.5% below
Along with Swiss Franc and Japanese Yen, the Euro seems to have acted as the safe-haven currency in the past two days, when equity markets worldwide registered their biggest declines since 2011. The common currency was up more than one percentage point against five majors, while a rise versus the Kiwi, Aussie and Loonie exceeded two percentage points.
The US Dollar suffered more losses, amid dampened hopes of a September rate hike and poor Manufacturing PMI data.
The Sterling experienced mixed performance on Friday and over the weekend.
Gold reaffirmed its safe-haven status on Friday, as it was the only major commodity to gain value just before the weekend, namely 0.63%. At the same time, oil prices continued to plunge, as Brent and Crude lost around 2.4% to trade below $45 and $40 per barrel, accordingly.
The common currency continued to strengthen versus the majority of its peers on Friday amid the combination of factors including Fed minutes, weakness in China and slumping equity markets. EUR/AUD and EUR/CAD skyrocketed 2.4%, as falling oil prices were clearly reflected in pricing of commodity currencies.
The US Dollar sustained rather serious losses amid rising concerns of the Fed postponing a possible interest rate hike.
The British Pound declined against most major peers on Thursday, with exception against the Aussie and the Buck.
Gold rallied almost 2% on Thursday, helped by diminished outlook for the first Fed rate increase since 2006 after softer than anticipated FOMC meeting minutes. Moreover, the yellow metal was boosted by the global rout in equity markets.
Weak China's manufacturing numbers dragged the Australian Dollar lower, which plunged 1.3% against the Euro yesterday. Moreover, a loss of more than one percentage point was posted by EUR/USD and EUR/GBP crosses. The US Dollar was easing on Thursday, reflecting FOMC meeting minutes that used to be not as hawkish as expected. The Sterling has in turn seen a decline
The US Dollar declined against most major peers on Wednesday, after the inflation report disappointed with its figures.
The Sterling experienced mixed performance on Wednesday, as it appreciated against the Loonie and the Greenback, but declined against other major peers.
Precious metals were the biggest gainers from quite dovish Fed meeting minutes released yesterday evening, as silver and gold advanced 2.9% and 1.4%, respectively.
The common European currency remained buoyant on Wednesday, as markets preferred the Euro to the US Dollar amid disappointing fundamentals from the world's biggest economy. Inflation gauge in the US rose less than estimated in July, while Fed meeting minutes showed the FOMC wants to concentrate more on consumer price developments before hiking interest rates. EUR/USD has therefore climbed 0.8%,
The US Dollar experienced mixed performance over Tuesday, due to poor US Building Permits data.
The British currency appreciated against most major peers on Tuesday, after the inflation data beat expectations.
Crude climbed 1.3% on Tuesday in anticipation of another weekly report on US stockpiles, which are estimated to drop further. On the other hand, Brent was kept under pressure with a 0.12% loss on a daily basis.
Despite important news announced by the Reserve Bank of Australia in its meeting minutes on Tuesday, the EUR/AUD cross experienced literally no change in value on the basis of one trading session, even though the Aussie was losing value initially.
The US Dollar experienced mixed performance over the day, amid mixed fundamental data on Monday.
The Sterling declined against most major peers yesterday, amid the looming inflation report today.
Precious metals, which include silver and gold, traded on a positive territory yesterday. Their gains were extended up to 0.6% on a daily basis, while the majority of other commodities fell in value. Among them, oil was trading down 0.1-0.5%, as the downward pressure keeps to be created by rising global stockpiles amid Iran returning to the market.