Forex Week in Review


Forex Week in ReviewThe news continues to be dominated by political stories with a gathering impeachment of President Trump gaining traction and Boris Johnson promising the Scottish High Court that he will obey the law requiring him to extend article 50,only to apparently contradict the statement later in the day.

In Europe over the course of the week, the FTSE was down on last week’s close by 3.7% at 7155.4, shedding 1.7% in Q3; the Dax ended at 12013, down by 3% on last week’s close and ending the quarter down by 1.5%; the CAC was down by 2.7% to end the session at 5488.3, but it ended Q3 up by 0.84%.

The Dow ended the week down by 0.92% to close at 26574, slipping 0.38% over the quarter. The Nasdaq composite index was up by 0.54% over the course of the week at 7982.5, but Q3 saw it shedding 2.7% of its value.

The Nikkei 225 ended the week’s trading down by 2.1% to end the session at 21410, but it made 0.61% over the quarter.

Currency markets review

On the currency markets last week, the Yen enjoyed the best of the trading. The Dollar was marginally stronger against Sterling last week closing at $1.2308 to the Pound, a gain of 0.05% on the week, but it gained by 1.5% over the quarter. The Greenback was weaker against the Euro last week falling by 0.27% to close at $1.0974 to the Euro, making 2.4% in Q3, however.

The Dollar weakened against the Japanese currency closing at 106.9 Yen to the Dollar, making a loss of 1% on the week and 0.49% over the quarter.

The Euro was weaker against the Yen ending at 117.3, a loss of 0.77% over the course of the week and gaining 3% in Q3. It was stronger against Sterling last week, the close saw one £ buying €1.1215, a gain of 0.31% on the week and 0.91% over the quarter.

The Euro now buys 1.0927 CHF, a gain of 0.7% on the week but a loss of 2.5% over the quarter.

Commodities market review

On the commodities market, the price for Brent crude ended at $58.37 per barrel, a fall of 5.7% over the course of the week’s trading, but a gain of 7.2% on the quarter. The value of gold was higher last week closing at $1506.2 per ounce, a rise of 0.69% over the week and 7% in Q3.

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.