By: Mike Campbell
Last week saw all of the major stock closing somewhat higher compared to the previous week’s closing figures. In Europe, the FTSE made almost 1% of its value, closing at 5372.4; the CAC made nearly 1.7% over the previous week’s close, one ending the abbreviated week’s trading at 3910.75; the Dax closed up by 2.4% at 5957.44.
In the USA, the Dow closed the week up by 0.75%, finishing the trading session at 10466.4. The Nasdaq again outshone its illustrious neighbour by putting on 2.6% last week, closing at 2269.6.
The Nikkei continued its recent rally, putting on a further 2.3% to close at 10378.0.
On the currency markets last week, the Dollar had another good week and regained significant strength against most major currencies. Against the Euro it weakened by 0.43% over the week, closing at 1.4398. The Greenback was stronger against the British Pound gaining 1.1% closing at 1.59836. The Dollar was stronger against the Japanese Yen, appreciating by a further 1.15% to close at 91.4919 to the Dollar.
The Euro had a better week and rose by 1.6% against the Yen last week closing at 131.73. It also regained ground against Sterling, making almost 1.5%. The close saw one £ buying 1.1101€.
On the commodities market, the price for Brent crude oil was significantly higher against last week’s mark closing at 75.45$ per barrel (for February delivery), the price of Brent crude rose by2.3% over last week’s mark. The value of gold has continued to retreat, closing at 1084 $ per ounce and has dropped another 1.8% over the previous week’s close.
FOREX Dec. 28th: Last Week In Perspective
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