Currencies tied to commodities are facing important losses against the Euro. EUR/AUD extended to the upside on Thursday and rose almost 300 pips to post a fresh 5-week high at 1.4928. The pair closed the day 2.05% above its opening price and has accumulated gains for almost 700 pips this week. The EUR/CAD also reached a fresh high at 1.3281 during the NY trade, not seen since May 24th.