Forex Week in Review - 22 August 2016

Last week was a largely negative affair for the world’s major markets with only the FTSE and Nasdaq making ground.

In Europe over the course of the week, the FTSE was up on last week’s close by 4.7%, it closed at 6859; the Dax ended at 10544, down by 1.6% on last week’s close; the CAC was down by 2.2% to end the session at 4400.5.

The Dow ended the week down by 0.12% to close at 18553. The Nasdaq composite index ended up by 0.11% over the course of the week at 5238.4.

The Nikkei 225 ended the week’s trading down by 2.2% to end the session at 16546.

Currency Markets Review 

On the currency markets last week the Euro again enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.3060 to the Pound, a loss of 0.99% on the week. The Greenback weakened against the Euro last week by 1.4% to close at $1.1327 to the €. The Dollar was weaker against the Japanese currency, closing at 100.2 Yen to the Dollar, making a loss of 0.79% during the week.

The Euro was stronger against the Yen ending at 113.5, a gain of 0.6% over the course of the week. It made ground against Sterling last week, rising by 0.39%; the close saw one £ buying €1.1530.

The Euro now buys 1.0868 CHF, a loss of 0.11% on the week.

Commodities Market Review 

On the commodities market, the price for Brent crude ended at $48.57 per barrel, a rise of 3.4% over the course of the week’s trading. The value of gold was lower last week, closing at $1339.9 per ounce, a loss of 0.91% on the week.

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.