Forex Week in Review

Dr. Mike Campbell

Week in reviewLast week saw most of the world’s major markets losing ground.

The UK moves into the last few days before an election which will decide the fate of Brexit. Polls indicate that a Johnson majority government is the likely outcome. In the USA, the House of Congress is setting up to instigate impeachment proceedings against President Trump.

In Europe over the course of the week, the FTSE was down on last week’s close by 1.5% at 7239.7; the Dax ended at 13167, down by 0.52% on last week’s close; the CAC was down by 0.56% to end the session at 5871.9.

The Dow ended the week down by 0.13% to close at 28015. The Nasdaq composite index was down by 0.1% over the course of the week at 8656.5.

The Nikkei 225 ended the week’s trading up by 0.26% to end the session at 23354.

Currency markets review

On the currency markets last week, Sterling again enjoyed the best of the trading, presumably on the logic that Johnson’s deal is better than continued uncertainty. The Dollar was weaker against Sterling last week closing at $1.3124 to the Pound, a loss of 2.3% on the week. The Greenback was weaker against the Euro last week falling by 0.21% to close at $1.1051 to the Euro.

The Dollar was essentially unchanged against the Japanese currency closing at 108.7 Yen to the Dollar, making a loss of 0.01% on the week.

The Euro was stronger against the Yen ending at 120.09 a rise of 0.19% over the course of the week. It was weaker against Sterling last week, the close saw one £ buying €1.1875, a fall of 2.1% on the week.

The Euro now buys 1.0951 CHF, a loss of 0.4% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $64.39 per barrel, a rise of 6.5% over the course of the week’s trading. The value of gold was lower last week closing at $1459.1 per ounce, a fall of 0.25% 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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