The Pound declined against most major peers on Thursday, due to disappointing Retail Sales figures.
Precious metals rallied in the past 24 hours after a long losing streak that reduced prices to this year's lows. Gold recovered by more than one full percentage point, while silver gained 0.6% yesterday. Such movements are explained by expectations that the Federal Reserve is planning to raise interest rates gradually in the medium term, while December rate hike by
Even though the Fed has literally confirmed that interest rates are likely to start rising next month, the pace of policy normalization will be slow and gradual. These projections pushed the US Dollar, which seems to have already priced in the rate hike, down by 0.7% against the Euro.
The US Dollar experienced mixed performance on Wednesday, due to a bad reading of the US Housing Starts, but the majority of FOMC members voting for a rate hike in December.
The British currency remained strong for an extra day, as it advanced against most major peers.
American Dollar weakened across the board on Wednesday, despite quite hawkish minutes of the FOMC committees' meeting. Members noticed that conditions are likely to be met, in order to begin the process of monetary policy normalisation at their next meeting in the middle of December.
The Euro skyrocketed the most versus the Swiss Franc on Wednesday, even though this currency pair usually is barely turbulent. EUR/CHF surged by 0.7% on the back of very disappointing ZEW economic conditions' survey for Switzerland. This indicator dropped down to zero in October from 18.3 points a month before. It proclaims that institutional investors and analysts are now neither
Due to a bad reading of the Industrial Production, the US Dollar failed to advance against the Aussie, the Loonie and the Sterling.
The British currency appreciated against most major peers on Tuesday, as the inflation data fell in line with expectations.
Some of the commodities continued to trade in red on Tuesday, while others resumed the downward tendency after a temporary bullish development in the beginning of this week. Precious metals including silver and gold were down by 0.4% and 1.2%, respectively.
Risk-averse sentiment and expectations over more ECB stimulus in December are pushing odds against the common European currency. Yesterday it slid against all but one G8 currency, by adding 0.08% only against the Swiss Franc. Japanese Yen and US Dollar, two classical safe-haven currencies, are building ground as they advanced by 0.2% and 0.4% versus the Euro, respectively.
The American Dollar outperformed most major peers on Monday, with the smallest gain registered against its Canadian counterpart (0.06%).
The Sterling remained strong against most major peers on Monday, with exception versus the Loonie and the US Dollar.
Contrary to Friday, commodities traded predominantly in green or posted a very negligible decline in the beginning of the new working week. Crude oil won the prize of being the best performer of Monday session as it surged by 2.5% to trade at $40.73, even though daily lows were surpassing an important psychological mark of $40 per barrel
The Euro continued to slump against G8 currencies on Monday, the first trading day of this week. Paris terrorist attacks made the Euro area's medium term economic outlook even more uncertain, which led to market sell-off of the single currency yesterday.
The Greenback experienced mixed performance on Friday and over the weekend, with gains outweighing the losses.
The Pound held gains against most major peers for another day on Friday and even the weekend.
Commodities extended their loss on Friday and only natural gas rallied significantly by 4.5%. Precious metals were undecided in pricing somewhat mixed Euro zone GDP data. On the other hand, US fundamentals registered a considerable disappointment. Still, gold fell by 0.12% and silver was down by 0.3% on a daily basis.
Lower than estimated pace of economic growth in the Euro zone resulted in a decline of the Euro against the vast majority of other G8 currencies last Friday. Euro/Swissie was the only cross to rally by around 0.2%, even though Switzerland's data showed no signs of weakness as producer price index rose more than forecasted in October by 0.2% on
The Greenback suffered losses against most major peers, despite a rather strong reading of US JOLTS Job Openings.
Due to lack of market movers, Sterling profit taking occurred against some major peers on Thursday.
Four commodities, which are included in our review, were literally unchanged in their value on Thursday. Gold and natural gas were down by 0.1 and 0.13%%, while corn and silver lost 0.14% and 0.21%, respectively. The only noticeable changes were posted by oil prices, which continued to slide down by more than 2.5% yesterday.
The Euro surged against all G8 currencies but the Australian Dollar on Thursday, because the latter used to have its own reasons for strong growth. Employment growth in Australia was around four times higher than had been anticipated in October as country's economy added 58,600 jobs versus an estimate of just 14,800.
Due to a bank holiday in the US, the Greenback suffered losses against other major peers.