Forex Week in Review
Brexit still continues to dominate the news. Johnson hopes to persuade parliament to agree to a general election in December, but it is unclear if parliament will oblige. Meanwhile, across the pond, moves to impeach President Trump continue to gather pace.
Friday’s session marked the end of October for these summaries.
In Europe over the course of the week, the FTSE was up on last week’s close by 2.4% at 7324.5, it ended the month up by 2.4% also; the Dax ended at 12633, up by 2.1% on last week’s close making 7.3% in October; the CAC was up by 1.5% to end the session at 5722.2 and it made 4.3% over the month.
The Dow ended the week up by 0.7% to close at 26958, it made 1.5% in October. The Nasdaq composite index was up by 1.9% over the course of the week at 8234.1, gaining 3.3% over the month.
The Nikkei 225 ended the week’s trading up by 1.4% to end the session at 22800, ending October up by 6.5%.
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 $1.2832 to the Pound, a gain of 0.5% on the week, but a loss of 4.8% on the month. The Greenback was stronger against the Euro last week rising by 0.67% to close at $1.1082 to the Euro, but it lost 1% over October.
The Dollar strengthened against the Japanese currency closing at 108.7 Yen to the Dollar, making a gain of 0.27% on the week and 1.7% over the month.
The Euro was weaker against the Yen ending at 120.6, a loss of 0.34% over the course of the week, but it made 2,8% over the month. It was weaker against Sterling last week, the close saw one £ buying €1.1579, a loss of 0.17% on the week and 3.2% in October.
The Euro now buys 1.1020 CHF, a gain of 0.24% on the week and 0.85% on the month.
Commodities market review
On the commodities market, the price for Brent crude ended at $56.66 per barrel, a fall of 4.4% over the course of the week’s trading and 2.9% on the month. The value of gold was higher last week closing at $1499.5 per ounce, a rise of 0.79% over the week, but a loss of 0.44% in October.