Forex Week in Review
Last week was a mixed affair for the world’s major stock markets. It saw tensions in the Gulf ease a fraction and the gathering of world leaders for the G20 summit in Osaka, Japan. Jeremy Hunt and Boris Johnson are vying to become leader of the UK Conservative Party and the next PM. The US Democratic Party have started the process of finding a challenger to Donald Trump in next year’s US Presidential race.
The final trading session for the week also marked the end of the month and Q2 of 2019. This summary provides the weekly and monthly data.
In Europe over the course of the week, the FTSE was up on last week’s close by 0.24% at 7425.6, making 1.3% in June; the Dax ended at 12399, 0.48% up on last week’s close and ending the month 2.9% higher; the CAC was up by 0.19% to end the session at 5539, ending June up by 3.3%.
The Dow ended the week down by 0.45% to close at 26600, but it made 0.45% on the month. The Nasdaq composite index was down by 0.32% over the course of the week at 8006.2, but it gained 3.4% in June.
The Nikkei 225 ended the week’s trading up, just, by 0.08% to end the session at 21276, gaining 1.9% in June.
Currency markets review
On the currency markets last week, the Euro again enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.2714 to the Pound, a loss of 0.11% on the week and 0.73% over the month. The Greenback was weaker against the Euro last week, falling by 0.49% to close at $1.1383 to the Euro, it weakened by 2.1% in June.
The Dollar strengthened against the Japanese currency closing at 107.7 Yen to the Dollar, making a gain of 0.24% during the week, but slipping by 0.76 over the month.
The Euro was stronger against the Yen ending at 122.7, a gain of 0.73% over the course of the week and 1.3% in June. It was stronger against Sterling last week, the close saw one £ buying €1.1169, a gain of 0.38% on the week and 1.3% over the month.
The Euro now buys 1.1105 CHF, a gain of 0.13% on the week, but a weakening of 0.75% over the month.
Commodities market review
On the commodities market, the price for Brent crude ended at $64.74 per barrel, a fall of 0.71% over the course of the week’s trading and a gain of 2.3% in June. Tensions remain high in the Gulf region with bellicose rhetoric towards Iran from President Trump. The value of gold was higher last week closing at $1410.1 per ounce, a gain of 0.77% and 5.2% in June. Any escalation of tension in the Middle East is likely to send gold higher.