Forex Week in Review


Forex Week in ReviewLast week was another negative affair for the world’s major stock markets. Friday marked the final trading session for May.

In Europe over the course of the week, the FTSE was down on last week’s close by 1.6% at 7161.7, ending the month down by 3%; the Dax ended at 11727, 2.4% down on last week’s close and slipping 5.5% in May; the CAC was down by 2.1% to end the session at 5207.6, ending the month 6.2% lower.

The Dow ended the week down by 3% to close at 24815, it lost 6.4% in May. The Nasdaq composite index was down by 2.4% over the course of the week at 7453.2, ending the month down by 8.7%.

The Nikkei 225 ended the week’s trading down by 2.4% to end the session at 20601, falling by 7.5% in May.

Currency markets review

On the currency markets last week, the Yen again enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.2622 to the Pound, a gain of 0.58% on the week and 3.9% over the month of May. The Greenback was stronger against the Euro last week, rising by 0.41% to close at $1.1153 to the Euro, making 0.31% over the month.

The Dollar weakened against the Japanese currency closing at 108.6 Yen to the Dollar, making a loss of 0.77% during the week and 2.4% over the month.

The Euro was weaker against the Yen ending at 121.2, a loss of 1.3% over the course of the week and 3.3% in May. It was stronger against Sterling last week, the close saw one £ buying €1.1318, a gain of 0.17% on the week and 3.6% in May.

The Euro now buys 1.1188 CHF, a loss of 0.3% on the week and 1.7% in May.

Commodities market review

On the commodities market, the price for Brent crude ended at $61.99 per barrel, a fall of 9.8% over the course of the week’s trading and 13% over the month. The value of gold was higher last week closing at $1305.5 per ounce, a rise of 1.6% on the week and 2.2% on the month.

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.