Forex Week in Review - 8 August 2016

Last week was a mixed affair for the world’s major markets with key economic indicators suggesting that the UK economy is feeling the effects of the Brexit vote even if market sentiment in London is currently Bullish.

In Europe over the course of the week, the FTSE was up on last week’s close by 1%, it closed at 6793.5; the Dax ended at 10367, up by 0.28% on last week’s close; the CAC was down by 0.66% to end the session at 4410.6.

The Dow ended the week up by 0.66% to close at 18544. The Nasdaq composite index ended up by 1.1% over the course of the week at 5221.2.

The Nikkei 225 ended the week’s trading down by 1.9% to end the session at 16254.

Currency markets review

On the currency markets last week the Yen again enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.3067 to the Pound, a gain of 1.6% on the week. The Greenback strengthened against the Euro last week by 0.81% to close at $1.1079 to the €. The Dollar was weaker against the Japanese currency, closing at 101.8 Yen to the Dollar, making a loss of 0.52% during the week.

The Euro was weaker against the Yen ending at 112.8, a loss of 1.5% over the course of the week. It made ground against Sterling last week, rising by 0.76%; the close saw one £ buying €1.1794.

The Euro now buys 1.0856 CHF, a gain of 0.31% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $44.27 per barrel, a rise of 4.2% over the course of the week’s trading. The value of gold was lower last week, closing at $1334.5 per ounce, a loss of 1.3% on the week.

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.