Forex Week in Review
Last week was a negative affair for the world’s major stock markets with significant losses on the back of fears of a trade war.
In Europe over the course of the week, the FTSE was down on last week’s close by 3.4% at 6921.9; the Dax ended at 11886, 4.1% down on last week’s close; the CAC was down by 3.6% to end the session at 5095.2.
The Dow ended the week down by 5.7% to close at 23533. The Nasdaq composite index was down by 6.5% over the course of the week at 6992.7.
The Nikkei 225 ended the week’s trading down by 4.9% to end the session at 20618.
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 $1.4149 to the Pound, a loss of 1.5% on the week. The Greenback weakened against the Euro last week by 0.52% to close at $1.2360 to the Euro. The Dollar weakened against the Japanese currency closing at 104.9 Yen to the Dollar, making a loss of 1% during the week.
The Euro was weaker against the Yen ending at 129.6, a loss of 0.51% over the course of the week. It lost ground against Sterling last week falling by 0.93%, the close saw one £ buying €1.1447.
The Euro now buys 1.1698 CHF, a fall of 0.08% on the week.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $70.45 per barrel, a rise of 6.4% over the course of the week’s trading. The value of gold rose last week closing at $1348.7 per ounce, a gain of 3% on the week and over the month.