Forex Week in Review - 4 April 2016

Dr. Mike Campbell

Last week was yet another mixed affair for the world’s major markets, with the Nikkei and European markets falling. The oil price weakened, dipping below the $40 mark on fears of over-supply, with the usual consequences. The week marked the end of the first quarter of the New Year.

In Europe over the course of the week, the FTSE was up by 0.65%, it closed at 6146.1, slipping by 2.2% in Q1; the Dax ended at 9794.6, down by 0.58% on last week’s close and by 8.3% over the quarter; the CAC was down by 0.17% to end the session at 4322.2, falling by 6.6% over the quarter.

The Dow ended the week up by 1.6% to close at 17793, it made 0.2% over the course of Q1. The Nasdaq composite index ended up by 3% over the course of the week at 4914.5, however it fell by 4.7% on the quarter.

The Nikkei 225 ended the week’s trading down strongly by 4.9% to end the session at 16164, the Nikkei fell by 10.7% over Q1.

Currency Markets Review 

On the currency markets last week the Euro enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.4205 to the Pound, a loss of 0.53% on the week, but it rose by and 4.2% in Q1. The Greenback fell against the Euro last week by 1.9% to close at $1.1379 to the €, it slipped by 2.8% over the quarter. The Dollar was weaker against the Japanese currency, closing at 112.1 Yen to the Dollar, making a loss of 0.86% during the week and falling by 6.3% in the first three months of the year.

The Euro was stronger against the Yen ending at 127.6, a gain of 1.1% over the course of the week but it fell by3.6% over Q1. It made ground against Sterling last week, rising by 1.4%; the close saw one £ buying €1.2483, gaining 6.8% on the quarter.

The Euro now buys 1.0914 CHF, a loss of 0.07% on the week but gained 0.43% over the quarter.

Commodities Market Review 

On the commodities market, the price for Brent crude ended at $38.67 per barrel, a loss of 4.4% over the course of the week’s trading, but a strengthening of 8.5% in Q1. The value of gold was higher last week, closing at $1222.5 per ounce, a gain of 0.1% on the week and 15% over the quarter.

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.

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