Forex Week in Review - 18 June 2018
Last week was a mixed affair for the world’s major stock markets. It was a week which saw the Fed raising interest rates and the ECB keeping them on hold with a prediction that the next hike was a year off – knocking the value of the Euro.
In Europe over the course of the week, the FTSE was down on last week’s close by 0.61% at 7701633.9; the Dax ended at 13011, 1.9% up on last week’s close; the CAC was up by 0.95% to end the session at 5501.9.
The Dow ended the week down by 0.9% to close at 25090. The Nasdaq composite index was up by 1.3% over the course of the week at 7746.4.
The Nikkei 225 ended the week’s trading up by 0.69% to end the session at 22852.
Currency markets review
On the currency markets last week, the Dollar enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.3287 to the Pound, a rise of 0.88% on the week. The Greenback was stronger against the Euro last week rising by 1.3% to close at $1.16178 to the Euro. The Dollar strengthened against the Japanese currency closing at 110.6 Yen to the Dollar, making a gain of 1.1% during the week.
The Euro was weaker against the Yen ending at 128.5, a loss of 0.26% over the course of the week. It lost ground against Sterling last week falling by 0.43%, the close saw one £ buying €1.1437.
The Euro now buys 1.1571 CHF, down by 0.32% on the week.
Commodities market review
On the commodities market, the price for Brent crude ended at $73.44 per barrel, a fall of 4% over the course of the week’s trading. The value of gold fell last week closing at $1278.8 per ounce, a fall of 1.5% on the week.