Last week saw most of the major stock exchanges stand still, except for the Nikkei which lost ground significantly. In Europe, the FTSE shed just 0.11% of its value, closing at 5245.7; the CAC was down by 0.21%, closing at 3721.5; the Dax closed up by 0.41% at 5686.6.
In the USA, the Dow closed the week unchanged, finishing the trading session at 10309.9 (-0.08%). The Nasdaq lost a little ground over the course of the week, closing down by 0.35% at 2138.4.
Yet again, the Nikkei bucked the trend and lost significantly, falling by 4.4% of its value to close at 9081.5. With the Japanese stock exchange in retreat, it is difficult to understand the current Yen strength; nor to believe that it can be maintained over the longer term.
On the currency markets last week, the Dollar was down against the major currencies. Against the Euro it fell 0.7% over the week, closing at 1.4918. The Greenback was weaker against the British Pound to the tune of 0.4%, closing at 1.6410. The Dollar lost ground against the Japanese Yen, losing 2.7% to close at 86.6068 to the Dollar.
The Euro also lost 2.2% against the Yen last week closing at 129.2. The Euro closed higher against Sterling making 1.1%. The close saw one £ buying 1.09999€.
On the commodities market, the price for Brent crude oil was unchanged against last week’s mark closing at 77.18$ per barrel (for January delivery). The value of gold appreciated yet again closing at 1177.5 $ per ounce equating to a hike of 3.9% over the previous week’s gains.