Forex Week in Review- Jan. 28, 2013

All of the major markets ended last week’s trading higher as a hint of optimism pervades the markets. Friday marked the last trading session for January from the perspective of these summaries, so we’ll see how kindly the month has treated the markets.

In Europe over the course of the week, the FTSE was up by 1.8%, it closed at 6264.9 and ended January higher by 2.9%; the Dax ended at 7748.1, rising by 0.6% over the course of the week, but it slipped by 0.36 in January; the CAC was up by 0.28% to end the session at 3752.2, it made 0.59% over the course of the month.

The Dow ended the week stronger to the tune of 1.8% at 13896, making 4.4% in January. The Nasdaq composite index ended at 3149.7, making 0.48% over the course of the week and ending the month 1.6% stronger.

The Nikkei 225 ended the week’s trading higher, gaining 0.12% to end the session at 10926.7, making 2.2% on the month.

On the currency markets last week, the Euro saw the best of trading. The Dollar was stronger against Sterling last week, closing at 1.5798 to the Pound; a rise of 0.49% on the week and 1.5% over the course of the month. The Greenback weakened against the Euro last week, slipping 1.2% to close at 1.3456; it weakened by 3.1% in January. The Dollar made ground against the Japanese currency, closing at 91.03 to the Yen, a gain of 1.3% on the week and 3.3% over the month.

The Euro strengthened against the Yen ending at 122.49, a gain of 2.5% over the course of the week and by 6.5% in January. The Euro rose against Sterling last week by 1.7%; the close saw one £ buying €1.174062. Sterling fell by 4.5% against the Euro during the month.

On the commodities market, the price for Brent crude ended higher, closing at $113.3 per barrel (for March delivery); a rise of 1.2% over the course of the week’s trading, it rose by 1.8% in January. The value of gold was lower last week, closing at $1660 per ounce, representing a fall of 1.7% over last week’s value, but it still made 0.73% in January.