By: Dr. Mike Campbell
Last week saw all of the major markets close lower.
In Europe over the course of the week, the FTSE fell by 0.78% and closed at 5723.7,; the Dax ended the week at 6775.3, tumbling 2.5% over the week; the CAC also fell last week, losing 3% to end the session at 3319.8.
The Dow ended the week down to the tune of 1.2 % at 13060. The Nasdaq composite index ended the week at 3080.5 slipping 0.36% over the course of the week.
The Nikkei closed down over the course of the week’s trading, falling 3.9% to end the trading session at 9688.5.
Currency Markets Review
On the currency markets last week, the Dollar saw the best of trading. The Dollar was stronger against Sterling, gaining 1% and closing at 1.58554 to the Pound. The Greenback also strengthened against the Euro last week, making 2.2% to close at 1.3068. The Dollar made some ground against the Japanese currency, closing at 82.26 to the Yen, a gain of 0.28% on the week.
The Euro weakened against the Yen ending at 107.06, a fall of 2.5% over the course of the week. The Euro was weaker against Sterling over the course of the week, falling by 1.2%; the close saw one £ buying 1.2133.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $123.4 per barrel (for May delivery); a rise of 0.45% over the course of the week’s trading. The value of gold was lower last week, closing at $1631 per ounce, representing a fall of 1.9% over last week’s value.