Forex Week in Review
Friday marked the final trading session for the week, month and quarter for these summaries. News was dominated by the unanimous decision of the British Supreme Court judges that Johnson’s prorogation of parliament was unlawful. Parliament resumed its session on Wednesday. Sterling remains very volatile and sensitive to political developments in the UK.
In Europe over the course of the week, the FTSE was up on last week’s close by 1.1% at 7426.2, making 2% in June; the Dax ended at 12381, down by 0.7% on last week’s close, but ending the month up by 1.6%; the CAC was down by 0.88% to end the session at 5640.6, but it ended June up by 0.65%.
The Dow ended the week down by 0.43% to close at 26820, almost where it started the month, making a gain of just 0.09%. The Nasdaq composite index was down by 2.2% over the course of the week at 7939.6, shedding 2% in June.
The Nikkei 225 ended the week’s trading down by 0.91% to end the session at 21879, but it made 3.2% over the month.
Currency markets review
On the currency markets last week, the Dollar enjoyed the best of the trading. The Dollar was stronger against Sterling last week closing at $1.2314 to the Pound, a gain of 1.4% on the week, but a softening by 0.1% over the month. The Greenback was stronger against the Euro last week rising by 0.53% to close at $1.0945 to the Euro, making 0.9% in June.
The Dollar strengthened marginally against the Japanese currency closing at 108 Yen to the Dollar, making a gain of 0.06% on the week and 1.1% over the month.
The Euro was weaker against the Yen ending at 118.2, a loss of 1.3% over the course of the week, but gaining 0.23% in June. It was stronger against Sterling last week, the close saw one £ buying €1.1251, a gain of 0.87% on the week and 1% over the month.
The Euro now buys 1.0851 CHF, a loss of 0.68% on the week and 0.42% in June.
Commodities market review
On the commodities market, the price for Brent crude ended at $61.91 per barrel, a fall of 3.7% over the course of the week’s trading, but a gain of 0.6% on the month. The value of gold was lower last week closing at $1495.9 per ounce, a fall of 0.47% over the week and 0.68% in June.