Forex Week in Review
Last week saw the major markets gaining ground. In the UK, pundits are hawkishly watching the election campaign for clues as to its outcome whilst in the USA, the hearings to consider the impeachment of President Trump move into public sessions.
In Europe over the course of the week, the FTSE was up on last week’s close by 0.78% at 7359.4; the Dax ended at 13229, up by 2.1% on last week’s close; the CAC was up by 2.2% to end the session at 5889.7.
The Dow ended the week up by 1.2% to close at 27681. The Nasdaq composite index was up by 1.1% over the course of the week at 8475.3.
The Nikkei 225 ended the week’s trading up by 2.4% to end the session at 23392.
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 $1.2788 to the Pound, a gain of 1.2% on the week. The Greenback was stronger against the Euro last week rising by 1.4% to close at $1.1018 to the Euro.
The Dollar strengthened against the Japanese currency closing at 109.2 Yen to the Dollar, making a gain of 0.92% on the week.
The Euro was weaker against the Yen ending at 120.3, a loss of 0.45% over the course of the week. It was weaker against Sterling last week, the close saw one £ buying €1.1606, a loss of 0.12% on the week.
The Euro now buys 1.0988 CHF, a loss of 0.17% on the week.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $62.51 per barrel, a rise of 1.3% over the course of the week’s trading. The value of gold was lower last week closing at $1461.7 per ounce, a fall of 3.3% over the week.