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.
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 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.
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 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%,
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 Kiwi Dollar appreciated noticeably against the majority of other currencies including the Euro on Monday, while Russia lifted a ban on milk imports from New Zealand. Therefore, EUR/NZD observed a drop of 0.7% yesterday
The common European currency fell against all of its major peers on Friday of the last week. Among currency pairs, EUR/GBP was hit be bearish pressure the most, as it slid as much as 0.8%. EUR/JPY and EUR/USD followed with losses of around 0.6%. The main catalyst for negative development of the Euro was European GDP statistics, as Germany, France
EUR/NZD surged 0.9% on Thursday, as retail sales in New Zealand grew considerably less than expected in the second quarter by just 0.1% on both headline and core basis.
The American Dollar depreciated more than 1% against the Euro on Thursday, as several decisions of the People's Bank of China to devalue the Yuan are raising bets the Federal Reserve will abstain from hiking interest rates next month.
The Euro was boosted by Greek news on Tuesday, as the crisis-hit country reached an agreement with creditors on conditions of the bailout. However, there were other reasons of the common currency's rise in value. Among them, the People's Bank of China devalued the Yuan, which pushed the Australian Dollar and the Kiwi significantly downwards, namely by 1.6% and 1.2%
Most of data published in Japan on Monday disappointed market participants. Therefore, there was a huge sell-off of the Yen against its peers including the Euro, as the EUR/JPY cross jumped 0.76%.
Optimistic fundamentals from Canada failed to provide the Loonie with positive momentum in its pair with the Euro. As a result, EUR/CAD cross rallied 0.59% and was outperformed only by the EUR/CHF currency pair, which added 0.6%.
The Pound depreciated noticeably against the Euro on Thursday, by losing as much as 0.76%. As expected, the British currency stayed volatile after the massive release of a bunch of data, which included the official rate from the Bank of England, MPC meeting minutes and the Quarterly Inflation Report. Among them, the MPC vote split disappointed, as only one member
The single European currency was up against the majority of its peers yesterday, including the Japanese Yen and Australian Dollar, which rallied the most by 0.55% and 0.52%, accordingly.
The biggest gainer of the previous day was the Aussie, which rallied almost 2% versus the common European currency. The Australian Dollar reacted in a positive way after the Reserve Bank decided to keep its interest rates unchanged.
On Monday, the Euro traded mainly flat versus the majority of other global currencies. Among them, the current review does not include the early-Tuesday decision of the Reserve Bank of Australia to keep interest rates unchanged, when the Aussie climbed noticeably.
The single European currency gained the most against the Loonie and Kiwi on Friday, by rising 1.17% and 0.65%, respectively. Other crosses of the Euro traded in a quieter manner, as their positive changes did not exceed 0.25%.
Second day in a row the Euro is the second worst performer in the market after the New Zealand Dollar.
The Euro underperformed relative to almost all its major counterparts yesterday.
Along with the Japanese Yen, the Euro was yesterday's worst performer.
As expected, yesterday's trading session turned out be exceptionally volatile despite the start of the week.
Despite the weak Euro zone fundamentals the common currency performed relatively well on Friday.
The Euro posted solid gains against all major currencies on Thursday. A rally of 1.19% was registered by the EUR/GBP cross, which skyrocketed amid unexpectedly weak UK retail sales.