Forex Week in Review


Last week was another positive affair for the world’s major markets with the majors again making gains with the exception of the FTSE. Friday marked the final trading session for the month from the perspective of these summaries.

In Europe over the course of the week, the FTSE was down on last week’s close by 2.3% at 6809.2, it fell by 0.41% in January; the Dax ended at 11282, 0.68% up on last week’s close and ending the month up by 4.8%; the CAC was up by 1% to end the session at 4925.8, gaining 4% in January.

The Dow ended the week up by 0.13% to close at 24737, it made 5.5% over the month. The Nasdaq composite index was up by 0.11% over the course of the week at 7164.9, ending January 6.3% higher.

The Nikkei 225 ended the week’s trading up by 0.52% to end the session at 20774, making 6.2% over the month.

Currency markets review

On the currency markets last week, Sterling again enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.3171 to the Pound, a fall of 2.1% on the week and 3.8% over the month. The Greenback was weaker against the Euro last week, falling by 0.41% to close at $1.1408 to the Euro, but it made 0.32% in January.

The Dollar weakened against the Japanese currency closing at 109.6 Yen to the Dollar, making a loss of 0.18% during the week, but gaining 1.2% over the month.

The Euro was stronger against the Yen ending at 1245, a gain of 0.22% over the course of the week, but it fell by 1% in January. It was weaker against Sterling last week, the close saw one £ buying €1.1545, a loss of 1.7% on the week and 4.1% in January.

The Euro now buys 1.1327 CHF, a gain of 0.15% on the week and 0.6% in January.

Commodities market review

On the commodities market, the price for Brent crude ended at $61.6 per barrel, a fall of 1.7% over the course of the week’s trading, but it made 8% on the month. The value of gold was lower last week closing at $1279.1 per ounce, a fall of 0.17% on the week and 0.27% in January.

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.