By: Mike Campbell
Last week was a fairly mixed affair for the major stock exchanges with no dramatic movement in either direction. In Europe, the FTSE lost 1.2% of its value, closing at 5261.6; the CAC dropped by 1.3%, closing at 3795.4; the Dax closed down by 1.1% at 5756.3.
In the USA, the Dow closed the week up by 0.8%, finishing the trading session at 10471.5. The Nasdaq had a lacklustre week, closing down by 0.18% at 2190.3.
The Nikkei consolidated the previous week’s gains, putting on a further 0.55% to close at 10107.9. The Yen has been on a roller-coaster ride recently with significant positive and negative swings against all the other majors. Currently it is trending lower.
On the currency markets last week, the Dollar was regained some strength against all the major currencies. Against the Euro it rose 2.1% over the week, closing at 1.4757. The Greenback was stronger against the British Pound to the same extent, 2.1%, closing at 1.6303. The Dollar was stronger against the Japanese Yen, appreciating by 0.6% to close at 88.8595 to the Dollar.
The Euro fell by 1.5% against the Yen last week closing at 131.1 but was essentially unchanged against Sterling. The close saw one £ buying 1.1048€.
On the commodities market, the price for Brent crude oil was significantly lower against last week’s mark closing at 71.88$ per barrel (for January delivery); this represents a drop of 7.3%. The value of gold has come off its recent record highs, closing at 1124 $ per ounce; putting a nearly 7% dent in its value over last week’s mark.
FOREX Dec 14th: Last Week In Perspective
DailyForex.com