Forex Week in Review - 28 March 2016

Last week was yet another mixed affair for the world’s major markets, but only the Nikkei saw the upside. The oil price weakened somewhat but remained above the $40 mark. Thursday’s trading session marked the final one for March from the perspective of these summaries.

In Europe over the course of the week, the FTSE was down by 1.3%, it closed at 6106.5, slipping by 1.5% in March; the Dax ended at 9851.4, down by 1% on last week’s close, but put on 0.28% over the month; the CAC was down by 3% to end the session at 4329.7, falling by 2.9% over the month as well.

The Dow ended the week down by 0.49% to close at 17516, but it made 3% over the course of March. The Nasdaq composite index ended down by 0.46% over the course of the week at 4773.5, making 1.2% on the month.

The Nikkei 225 ended the week’s trading up by 1.6% to end the session at 17003 which was essentially where it started.

Currency markets review

On the currency markets last week the Dollar enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.4130 to the Pound, a gain of 2.6% on the week and 0.68% in March. The Greenback rose against the Euro last week by 1.1% to close at $1.1164 to the €, but it slipped by 1.4% over the month. The Dollar was strongerer against the Japanese currency, closing at 113.1 Yen to the Dollar, making a gain of 1.5% during the week, but falling by 0.73% in March.

The Euro was stronger against the Yen ending at 126.2, a gain of 0.33% over the course of the week and 0.61% in March. It made ground against Sterling last week, rising by 1.5%; the close saw one £ buying €1.2657, gaining 2% on the month.

The Euro now buys 1.0921 CHF, a loss of 0.11% on the week and virtually unchanged over the month.

Commodities market review

On the commodities market, the price for Brent crude ended at $40.44 per barrel, a loss of 1.8% over the course of the week’s trading, but a strengthening of 4.5% in March. The value of gold was lower last week, closing at $1221.3 per ounce, a loss of 2.85% on the week and 3.1% over the month.

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.