Forex Week in Review - 20 July 2015

Hot on the tail of rejecting a bailout at a referendum, the Greek government has asked for a third bailout with tougher conditions attached than the deal on offer and got agreement through parliament. European markets reacted well and all majors were up – as they say; watch this space

In Europe over the course of the week, the FTSE was up by 1.5%, it closed at 6775.1; the Dax ended at 11673, up by 3.2% on last week’s close; the CAC was up by 4.5% to end the session at 5124.4

The Dow ended the week up by 1.8% to close at 18086. The Nasdaq composite index ended up by 4.3% over the course of the week at 5210.1.

The Nikkei 225 ended the week’s trading up by 4.4% to end the session at 20651.

Currency markets review

On the currency markets last week, Sterling enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.5623 to the Pound, a fall of 0.77%. The Greenback rose against the Euro last week by 2.7% to close at $1.1085 to the €. The Dollar was stronger against the Japanese currency, closing at 124.0 Yen to the Dollar, making a gain of 1% during the week.

The Euro was weaker against the Yen ending at 134.5, a loss of 1.7% over the course of the week. It lost ground against Sterling last week falling by 3.6%; the close saw one £ buying €1.4402.

The Euro now buys 1.0425 CHF, a loss of 0.65% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $57.1 per barrel, a loss of 2.8% over the course of the week’s trading. The value of gold was lower last week, closing at $1133.5 per ounce, a fall of 2.3% on the week.

Currency Markets Review

Dr. Mike Campbell
Dr. Mike Campbell is a British scientist and freelance writer. Mike got his doctorate in Ghent, Belgium and has worked in Belgium, France, Monaco and Austria since leaving the UK. As a writer, he specialises in business, science, medicine and environmental subjects.