Forex Week in Review - 31 December 2018
Last week was a mixed affair for the world’s major markets with European and Japanese markets slipping, but US markets gaining from bargain hunting. It marked the final trading session for December, the quarter and 2018. This summary will provide the week’s and the month’s performance.
In Europe over the course of the week, the FTSE was up on last week’s close by 0.19% at 6734, it slipped by 0.65% in December; the Dax ended at 10559, 0.71% down on last week’s close and by 2.1% over the month; the CAC was down by 0.33% to end the session at 4678.7, slipping by 2.8% over the month.
The Dow ended the week up by 2.8% to close at 23062, it fell by 5.4% in December. The Nasdaq composite index was up by 4% over the course of the week at 6584.5, but it lost 5.5% over the month.
The Nikkei 225 ended the week’s trading down by 0.76% to end the session at 20015, weakening by 7.7% in December.
Currency markets review
On the currency markets last week, the Yen again enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.2696 to the Pound, a fall of 0.12% on the week, but it made 0.58% over the month. The Greenback was weaker against the Euro last week, falling by 0.37% to close at $1.1448 to the Euro, slipping by 1.1% in December.
The Dollar weakened against the Japanese currency closing at 110.4 Yen to the Dollar, making a loss of 0.74% during the week and 2% over the month.
The Euro was weaker against the Yen ending at 126.3, a loss of 0.37% over the course of the week and 1.7% over the month. It was weaker against Sterling last week, the close saw one £ buying €1.1249, a loss of 1.2% on the week but a gain of 0.26% in December.
The Euro now buys 1.1260 CHF, a loss of 0.17% on the week and 0.43% over the month.
Commodities market review
On the commodities market, the price for Brent crude ended at $53.21 per barrel, a fall of 1.1% over the course of the week’s trading and 14% on the month. The value of gold was higher last week closing at $1279.3 per ounce, a rise of 1.9% on the week and 2.4% in December.