Forex Week in Review - 10 December 2018

Last week was a negative affair for the world’s major markets partially over renewed fears of a trade war intensification between the USA and China, interest rate rise concerns and political tensions (with China and the USA) over the arrest of the CFO of Huawei.

In Europe over the course of the week, the FTSE was down on last week’s close by 2.9% at 6778.1; the Dax ended at 10788, 4.2% down on last week’s close; the CAC was down by 3.8% to end the session at 4813.1.

The Dow ended the week down by 4.5% to close at 24389. The Nasdaq composite index was down by 4.9% over the course of the week at 6969.3.

The Nikkei 225 ended the week’s trading down by 3% to end the session at 21679.

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 $1.2746 to the Pound, a rise of 0.18% on the week. The Greenback was weaker against the Euro last week, falling by 0.62% to close at $1.1392 to the Euro.

The Dollar weakened against the Japanese currency closing at 112.6 Yen to the Dollar, making a loss of 0.8% during the week.

The Euro was weaker against the Yen ending at 128.3, a loss of 0.19% over the course of the week. It was stronger against Sterling last week, the close saw one £ buying €1.1188, a gain of 0.8% on the week.

The Euro now buys 1.1295 CHF, a fall of 0.12% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $61.67 per barrel, a rise of 3.7% over the course of the week’s trading. The value of gold was higher last week closing at $1249.4 per ounce, a rise of 2.2% 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.