FOREX: Last Week In Perspective - 19 October 2009

By: Mike Campbell
Last week was a quiet event overall for the world’s major stock markets with all indices ending the week in the black; albeit modestly. In Europe, the FTSE was up by 0.55%, closing at 5190.2; the CAC performed slightly better, putting on 0.74%, closing at 3827.6; the Dax closed up by a modest 0.55% at 5743.39.

The Nikkei made a little ground on the other major exchanges, closing up 2.41% of its value over the course of the week to close at 10257.56.

In the USA, the Dow put on 1.33% of its value, finishing the trading session at 9995.91. The Nasdaq showed a modest gain over the course of the week; closing up by 0.82% at 2156.8.

On the currency markets last week, the Dollar had a mixed week, losing ground against Sterling and the Euro, but strengthening somewhat against the Yen. Against the Euro it continued to weaken, closing lower with 1€ buying $1.4869, a loss of 0.81% over the week. The Greenback was weaker against the British Pound to the tune of 2.03%, closing with 1£ buying $1.631 on the back of a strengthening Pound. The US Dollar regained some value against the Japanese Yen, the Greenback gaining 2.59% to close at 91.196 to the Dollar.

The Euro strengthened significantly against the Yen last week to close at 135.6, recovering by 3.42% of its value against the Japanese currency. Sterling recovered some ground against the other major currencies last week. The close saw one £ buying 1.0968€; a rise of 1.2%

On the commodities market, the price for Brent crude oil was again significantly higher than the previous week’s mark. Brent crude rose by 9.99% over the course of the week, closing at 76.99$ per barrel (for November delivery). The value of gold was unchanged over the previous week’s value it closed up at 1055 $ per ounce.