By: Dr. Mike Campbell
Last week saw the world’s major stock exchanges again all close lower for the fifth week in a row. In Europe over the course of the week, the FTSE fell by 1.4%, closing at 5855; the Dax shed a further 0.76% to close at 7109; the CAC weakened by 15% to end the session at 3890.7.
The Dow ended the week down by 2.3% finishing the trading session at 12151.3. The Nasdaq ended the week down by 2.3% to close at 2732.8.
The Nikkei declined over the course of the week, dipping by 0.31% to end the trading session at 9492.2.
On the currency markets last week, the Euro had the best of the trading. The Dollar was stronger against Sterling, dropping 0.80% and closing at 1.63245 to the Pound. The Greenback lost ground against the Euro last week, falling by 1.6% to close at 1.4488. The Dollar also lost ground against the Japanese currency, closing at 80.6808 to the Yen, a loss of 0.53% on the week.
The Euro closed up against the Yen ending at 116.89, rising by 1% over the course of the week. The Euro also made ground against Sterling over the course of the week by 2.3%; the close saw one £ buying 1.1268.
On the commodities market, the price for Brent crude ended higher, closing at $115.84 per barrel (for July delivery); a hike of 0.7% over the course of the week’s trading. The value of gold rose last week, closing at $1540 per ounce and representing a gain of 0.46% over last week’s value.
Forex Week in Review June 6, 2011
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.