Forex: The Last Week’s Trading Activities In Perspective - 6 April 2010

By: Mike Campbell

All of the major stock markets closed higher at the end of last week’s trading session with the best performance coming from the Nikkei. In Europe over the course of last week, the FTSE put on 0.7%, closing at 5744.9; the CAC put on a respectable 1.1% to end the session at 4034.2 but this was eclipsed by the Dax which rose by 1.9% ending the week at 6235.6.

The Dow ended the week up by 0.7%, finishing the trading session at 10927. The Nasdaq ended the week up by a further 0.3%, closing at 2402.6.

The Nikkei closed up strongly rising by 2.6% over the course of the week ending trading at 11286.

On the currency markets last week, the Dollar was mixed against other major currencies. Against the Euro, the US currency weakened by 0.86% over the course of the week closing at 1.3468 to the Euro. The Greenback was substantially weaker against the British Pound which has recovered some recent losses. It fell by 2.6%, closing at 1.52207 to the Pound. However, the Dollar closed at 93.75 to the Yen, a rise of 0.96% on the week.

The Euro had a better week on the back of gathering confidence that the Greek, debt situation can be managed and rose by 1.8% against the Yen closing at 126.28. It fell against Sterling over the week by 1.8%. The close saw one £ buying 1.13014€.

On the commodities market, the price for Brent crude was strongly higher, closing at $84 per barrel (for May delivery); a hike of 6% over the course of the week’s trading. The value of gold also appreciated; closing at 1127.5 $ per ounce, representing a gain of 2.5%.