Forex Week in Review
Sterling has ended its mini rally, falling against the Dollar, but still gaining on the Euro as fever sweeps through the UK political classes.
The major stock markets were higher last week with only the Nikkei slipping back, marginally. It looks as is hopes of a truce in the trade war were ill-placed, again.
In Europe over the course of the week, the FTSE was up on last week’s close by 1.6% at 7207.2, but it shed 2.7% in August; the Dax ended at 11939, 2.8% up on last week’s close, but ending the month just 0.56% higher; the CAC was up by 2.9% to end the session at 5480.5, making 2.3% in August.
The Dow ended the week up by 3% to close at 26403, but it lost 0.31% over the month. The Nasdaq composite index was up by 2.7% over the course of the week at 7962.9, but it slipped by 0.51% in August.
The Nikkei 225 ended the week’s trading marginally lower by 0.03% to end the session at 20704, falling by 1.8% 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 $1.2172 to the Pound, a gain of 0.73% on the week, but it weakened by 0.4% in August. The Greenback was stronger against the Euro last week rising by 1.4% to close at $1.0984 to the Euro, making 1.1% on the month.
The Dollar strengthened against the Japanese currency closing at 106.3 Yen to the Dollar, making a gain of 0.78% on the week, but slipping by 0.31% in August.
The Euro was lower against the Yen ending at 116.8, a loss of 0.59% over the course of the week and 1.4% over the month. It was weaker against Sterling last week, the close saw one £ buying €1.1077, a loss of 0.63% on the week and 1.5% in August
The Euro now buys 1.0881 CHF, a gain of 0.1% on the week, but a loss of 0.3% during August.
Commodities market review
On the commodities market, the price for Brent crude ended at $59.25 per barrel, a rise of 9.8% over the course of the week’s trading, but it still fell by 4.3% in August. The value of gold was lower last week closing at $1521.8 per ounce, a fall of 0.35% over the week, but it gained 5.3% during August.