Forex Week in Review - 16 January 2017

Last week was the first full trading session of 2017. The markets were mixed with the Dow and Nikkei closing lower.

In Europe over the course of the week, the FTSE was up on last week’s close by 1.8%, it closed at 7337.8; the Dax ended at 11629, up by 0.26% on last week’s close; the CAC was up by 0.26% to end the session at 4922.5.

The Dow ended the week down by 0.39% to close at 19886. The Nasdaq composite index was up by 0.96% over the course of the week at 5574.1.

The Nikkei 225 ended the week’s trading down by 0.86% to end the session at 19287.

Currency markets review

On the currency markets last week the Yen enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.2202 to the Pound, a gain of 0.88% on the week. The Greenback weakened against the Euro last week by 0.64% to close at $1.0625 to the Euro. The Dollar was weaker against the Japanese currency, closing at 115 Yen to the Dollar, making a loss of 1.6% during the week.

The Euro was weaker against the Yen ending at 122.2, a loss of 0.96% over the course of the week. It made ground against Sterling last week, rising by 1.5%; the close saw one £ buying €1.1484.

The Euro now buys 1.0729 CHF, a gain of 0.09% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $55.45 per barrel, a loss of 2.9% over the course of the week’s trading. The value of gold rose last week closing at $1188.1 per ounce, a gain of 1.4% 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.