Forex Week in Review

Dr. Mike Campbell

A last-ditch attempt to forge an exit deal between the EU an UK sent Sterling higher after Boris Johnson did a U-turn on customs facilities in Ireland, but few now think a deal is imminent, so Sterling is shedding its gains.

Talk of a trade agreement between China and the USA sent global markets higher last week.

In Europe over the course of the week, the FTSE was up on last week’s close by 3.71.3% at 7247.1; the Dax ended at 12512, up by 4.2% on last week’s close; the CAC was up by 3.2% to end the session at 5665.5.

The Dow ended the week up by 0.91% to close at 26817. The Nasdaq composite index was up by 0.93% over the course of the week at 8057. The Last Week’s Trading Activities In Perspective

The Nikkei 225 ended the week’s trading up by 1.8% to end the session at 21799.

On the currency markets last week, Sterling enjoyed the best of the trading on hopes of a Brexit deal. The Dollar was weaker against Sterling last week closing at $1.2683 to the Pound, a loss of 3.1% on the week. The Greenback was weaker against the Euro last week falling by 0.62% to close at $1.1043 to the Euro.

The Dollar strengthened against the Japanese currency closing at 108.5 Yen to the Dollar, making a gain of 1.5% on the week.

The Euro was stronger against the Yen ending at 119.8, a gain of 2.1% over the course of the week. It was weaker against Sterling last week, the close saw one £ buying €1.1486, a loss of 2.4% on the week.

The Euro now buys 1.1005 CHF, a gain of 0.7% on the week.

On the commodities market, the price for Brent crude ended at $60.51 per barrel, a rise of 3.7% over the course of the week’s trading. The value of gold was lower last week closing at $1482.1 per ounce, a fall of 1.6% over the week.

Dr. Mike Campbell
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.

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