By: Dr. Mike Campbell
Last week saw all of the major markets close lower again.
In Europe over the course of the week, the FTSE fell by 1.3% and closed at 5651.8; the Dax ended the week at 6583.9, tumbling 2.8% over the week; the CAC also fell last week, losing 3.9% to end the session at 3189.1.
The Dow ended the week down to the tune of 1.6 % at 12849.6.Nasdaq composite index ended the week at 3011.3 slipping 2.5% over the course of the week.
The Nikkei closed down over the course of the week’s trading, falling 0.5% to end the trading session at 9638.
Currency Markets Review
On the currency markets last week, the Yen saw the best of trading. The Dollar was weaker against Sterling, falling 0.54% and closing at 1.59408 to the Pound. The Greenback also weakened against the Euro last week, dipping 0.6q% to close at 1.3148. The Dollar lost some ground against the Japanese currency, closing at 80.9933 to the Yen, a loss of 1.5% on the week.
The Euro weakened against the Yen ending at 106.49, a fall of 0.53% over the course of the week. The Euro was unchanged against Sterling over the course of the week, making by 0.07%; the close saw one £ buying 1.2124.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, closing at $121.8 per barrel (for May delivery); a fall of 1.3% over the course of the week’s trading. The value of gold was stronger last week, closing at $1666 per ounce, representing a gain of 2.2% over last week’s value.