Gold continued to decline on Monday as the US Dollar and equities rose. However, the precious metal remained supported by investors' interest amid caution in financial markets.
The US Dollar declined against most major peers on Friday and over the weekened, despite improvements in CPI data.
A strong reading of the UK Retail Sales on Friday helped the Sterling outperform most of other major currencies on Friday and over the weekend, except for the Japanese Yen.
The Euro fares particularly well against the riskier currencies, which implies strong risk-off sentiment.
As risk-appetite increased on Thursday, the British Pound was able to outperform most major currencies, except for the Japanese Yen.
As oil prices declined later on Thursday, the US Dollar was able to outperform the commodity currencies, namely the Aussie and the Loonie.
Gold booked another spike on Thursday, after worldwide equity markets retreated due to falling oil prices. Initially, the day was positive for both risky commodities and stocks.
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.
Even though the FOMC Meeting Minutes were interpreted as rather dovish last night, the US Dollar managed to avoid losses against most major peers.
The Sterling struggled to outperform other major currencies, as it mainly succeeded only against the Swiss Franc.
Commodities spent Wednesday fully in the green territory, as all of them posted successful gains amid weaker American currency and other factors.
Being that oil prices booked daily gains of more than 6% on Wednesday, commodity-linked currencies inched much higher against the Euro.
The US Dollar managed to outperform all other major currencies, except for the Japanese Yen.
Rather poor inflation figures caused the Sterling to sustain serious losses against most major peers on Tuesday.
Energy components had been gaining ground before the meeting of Russian and Saudi Arabian officials. They were expected to make decisions about oil output in their countries, which should have had a favourable impact on prices.
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.
The Greenback started the week by outperforming most of other major currencies, despite there being a bank holiday in the US yesterday.
The Sterling experienced mixed performance on Monday, having appreciated against some major peers, but declining against the others.
Precious metals were casualties of a strong rebound in stock markets across Asia and Europe on February 15, while US trading was closed for the President's Day.
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 US ended the week relatively positive, as it appreciated against most major peers on Friday and over the weekend.
On Friday and over the weekend the British currency outperformed most major peers.
Oil prices registered an incredible climb of more than 10% on Friday, as Brent surged by 11% and Crude was up by 12.32% on just a one-day basis.
The Euro booked mixed results against other currencies throughout the trading session on Friday.