Forex Week in Review
Political scandals continue to dominate on both sides of the Atlantic with continuing revelations about Trump’s Ukraine policy emerging. In the UK, the big scandal is the reported offer of peerages and influential positions being offered to key Brexit Party figures should they stand aside for their Conservative rivals in key marginal seats – conversations that the government claims never happened, but the Brexit Party leader, Nigel Farage, asserts they did.
Generally, last week was mixed for the world’s major stock exchanges.
In Europe over the course of the week, the FTSE was down on last week’s close by 0.77% at 7302.9; the Dax ended at 13242, up by 0.1% on last week’s close; the CAC was up by 0.84% to end the session at 5939.3.
The Dow ended the week up by 1.2% to close at 28005. The Nasdaq composite index was up by 0.77% over the course of the week at 8540.8.
The Nikkei 225 ended the week’s trading down by 0.38% to end the session at 23303.
Currency Markets Review
On the currency markets last week, Sterling enjoyed the best of the trading, but it is not obvious why. The Dollar was weaker against Sterling last week closing at $1.2900 to the Pound, a loss of 0.88% on the week. The Greenback was weaker against the Euro last week falling by 0.24% to close at $1.1045 to the Euro.
The Dollar weakened against the Japanese currency closing at 108.8 Yen to the Dollar, making a loss of 0.32% on the week.
The Euro was weaker against the Yen ending at 120.2, a loss of 0.07% over the course of the week. It was weaker against Sterling last week, the close saw one £ buying €1.1680, a loss of 0.64% on the week.
The Euro now buys 1.0939 CHF, a loss of 0.45% on the week.
Commodities Market Review
On the commodities market, the price for Brent crude ended at $63.3 per barrel, a rise of 1.3% over the course of the week’s trading. The value of gold was higher last week closing at $1469.1 per ounce, a rise of 0.51% over the week