Forex Week in Review

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Forex week in reviewAs the UK spirals ever closer to a chaotic “no deal” Brexit the value of Sterling continues to fall. On Friday, the Pound hit its lowest value against the Euro for a decade before recovering slightly.

All the major stock markets closed lower.

In Europe over the course of the week, the FTSE was down on last week’s close by 2.1% at 7253.9; the Dax ended at 11694, 1.5% down on last week’s close; the CAC was down by 0.58% to end the session at 5327.9.

The Dow ended the week down by 0.75% to close at 26287. The Nasdaq composite index was down by 0.56% over the course of the week at 7959.1.

The Nikkei 225 ended the week’s trading down by 1.9% to end the session at 20685.

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 $1.2078 to the Pound, a gain of 0.38% on the week. The Greenback was weaker against the Euro last week falling by 0.96% to close at $1.1218 to the Euro.

The Dollar weakened against the Japanese currency closing at 105.4 Yen to the Dollar, making a loss of 1.1%.

The Euro was lower against the Yen ending at 118.3, a loss of 0.22% over the course of the week. It was stronger against Sterling last week, the close saw one £ buying €1.0767, a gain of 1.3% on the week.

The Euro now buys 1.0898 CHF, a loss of 0.14% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $58.53 per barrel, a fall of 5.4% over the course of the week’s trading. The value of gold was higher last week closing at $1479.5 per ounce, a rise of 2.4% over the week.

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.