Forex Week in Review

03 October 2016 9:48:55 AM

Friday’s trading session marked the final trading session in Q3 and the month of September, the quarterly data will be presented next week. It is the first quarter since the UK’s decision to leave the EU was taken. The world’s major markets were trading mixed last week.

In Europe over the course of the week, the FTSE was down on last week’s close by 0.15%, it closed at 6899.3, it ended the month where it started, gaining just 0.07%; the Dax ended at 10511, down by 1.1% on last week’s close and by 1.6% on the month; the CAC was down by 0.14% to end the session at 4482.6, slipping by 1.3% over the course of September.

The Dow ended the week up by 0.26% to close at 18308, but it slipped by 1% during September. The Nasdaq composite index was up by 0.12% over the course of the week at 5312, making 1.2% over the month, the only major index to gain.

The Nikkei 225 ended the week’s trading down by 1.8% to end the session at 16450, it fell by 2.8% on the month.

Currency markets review

On the currency markets last week Sterling enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.3013 to the Pound, a loss of 0.42% on the week, but it strengthened by 2% in September. The Greenback weakened against the Euro last week by 0.15% to close at $1.1240 to the Euro, it slipped by 0.72% on the month. The Dollar was stronger against the Japanese currency, closing at 101.19 Yen to the Dollar, making a gain of 0.14% during the week, but slipping by 2.9% over the month.

The Euro was stronger against the Yen ending at 113.7, a gain of 0.28% over the course of the week, but a loss of 2.1% in September. It lost ground against Sterling last week, falling by 0.27%; the close saw one £ buying €1.1577, but the Pound slipped by 2.8% on the month.

The Euro now buys 1.0894 CHF, a gain of 0.05% on the week, but it slipped by 0.4% in September.

Commodities market review

On the commodities market, the price for Brent crude ended at $50.19 per barrel, a gain of 9.4% over the course of the week’s trading and 7.2% on the month. The value of gold was lower last week, closing at $1316 per ounce, a loss of 1.8% on the week and 0.42% over the course of the month.

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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