After a relatively good end of the previous week, the Euro turned out to be one of the mains losers of Monday, giving up as much as 2% against the Aussie and 1.8% against the Kiwi.
The Euro fares particularly well against the riskier currencies, which implies strong risk-off sentiment.
EUR/CAD and EUR/AUD were the only currency pairs from our daily review to register a positive change. These components were, as usually, driven by oil prices that reversed earlier gains on Thursday and slumped amid an increase in US crude storage.
Being that oil prices booked daily gains of more than 6% on Wednesday, commodity-linked currencies inched much higher against the Euro.
The fastest increase in the value of the single currency was registered by the currency pairs with the Kiwi and Pound Sterling, as these components surged by 0.94% and 0.82%, respectively.
As US markets were closed for trading on Monday, all eyes were on the ECB President Mario Draghi's speech before the European Parliament's Economic and Monetary Affairs Committee.
The Euro booked mixed results against other currencies throughout the trading session on Friday.
The Euro is trying to find a balance between other safe haven and risky currencies, meaning there are broadly different developments posted by different currency pairs.
Wednesday saw the Japanese Yen skyrocketing by 1.54% at the expense on the Euro, as the most popular haven currency experiences an inflow of funds due to greater global economic, financial and central bank uncertainty.
US Dollar paid no attention to mainly positive domestic statistical data on Tuesday, while mostly following developments in equity and commodity markets and the world economy.
Monday was a bright day only for the Japanese Yen in terms of development against the Euro. EUR/JPY slid by 0.57%, as risk-aversion drove everything that was happening throughout the previous 24 hours.
Friday brought us the last portion of crucial fundamentals, just among others that had already been released earlier the same week.
Markets used to focus on incoming central bank events and some particular fundamentals throughout Thursday, while mostly disregarding speeches among officials.
American currency literally crashed on Wednesday, while dipping by 1.70% against the world's second biggest reserve currency – Euro.
The Euro registered a generally positive trading session on Tuesday, with only EUR/JPY booking a loss of 0.56%. The Yen resumed gaining value amid risk-off market sentiment, which is pushing the flow of cash into the Japanese currency.
In anticipation of today's employment and milk price statistics, the New Zealand Dollar decided to start appreciating against the Euro already on Monday of the new week.
The Euro continued to appreciate only against the Japanese Yen on Friday, showing gains of 0.94% in the wake of the unexpected decision made by the Bank of Japan to slash interest rates and send them into the negative territory.
The Bank of Japan made an unprecedented decision to introduce a negative interest rate on bank deposits. To support a sluggish economy and raise inflation expectations, the BOJ curbed the deposit rate to -10 basis points from 0.1% earlier.
Decision of the Reserve Bank of New Zealand was the main trigger for Kiwi's drop on Wednesday, as this currency lost 1.3% versus the Euro.
The Euro traded in a mixed environment on Tuesday, by growing against major safe haven currencies and depreciating versus commodity currencies and the British Pound.
Statistical data from Germany was rather disappointing on Monday, as the IFO business climate indicator slumped to the lowest level since February 2015. Despite that, the Euro was resilient to all fundamental shocks and benefited from a renewed decline in equity and commodity markets.
European fundamentals disappointed on Friday, as composite Euro zone's PMI indicator declined more than expected in January and both France and Germany posted worse-than-estimated data.
A rebound in oil prices that had occurred earlier during the trading session on Thursday was perfectly reflected in the development of commodity-linked currencies.
Wednesday was bearish for the 19-nation currency, as no green candles were sometimes seen throughout several sessions in Asia, Europe and US. Equities across the globe were sent continuously to the downside, but the safe-haven Euro failed to attract market attention, as investment into the Yen soared.