Forex Week in Review

12 June 2017 7:56:51 AM

By: DailyForex.com

Last week was a negative affair for the world’s major markets with only the Dow making ground. It follows an inconclusive UK election which left the governing party without an overall majority.

In Europe over the course of the week, the FTSE was down on last week’s close by 0.27% at 7527.3; the Dax ended at 12816, down by 0.05% on last week’s close; the CAC was down by 0.82% to end the session at 5299.7.

The Dow ended the week up by 0.31% to close at 21272. The Nasdaq composite index was down by 1.6% over the course of the week at 6270.9.

The Nikkei 225 ended the week’s trading down by 0.52% to end the session at 20013.

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 $1.2737 to the Pound, a rise of 1.2% on the week. The Greenback strengthened against the Euro last week by 0.73% to close at $1.1189 to the Euro. The Dollar strengthened against the Japanese currency closing at 110.6 Yen to the Dollar, making a gain of 0.11% during the week.

The Euro was weaker against the Yen ending at 123.8, a fall of 0.62% over the course of the week. It made ground against Sterling last week, rising by 0.42%; the close saw one £ buying €1.1384.

The Euro now buys 1.0854 CHF, a fall of 0.14% on the week.

Commodities market review

On the commodities market, the price for Brent crude ended at $48.15 per barrel, a fall of 3.6% over the course of the week’s trading. The value of gold rose last week closing at $1266 per ounce, a fall of 0.98% on the week

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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