By: DailyForex.com
The major stock markets finished the week down as worries about the global slowdown re-emerged and the IMF trimmed growth forecasts.
In Europe over the course of the week, the FTSE was down by 1.3%, it closed at 5793.3; the Dax ended at 7232.5 falling by 2.2% over the course of the week; the CAC was down by 2% to end the session at 3389.1.
The Dow ended the week weaker to the tune of 2.1 % at 13328.9. The Nasdaq composite index ended at 3034.1, shedding 3.3% over the course of the week.
The Nikkei lower over the course of the week’s trading, slipping 3.7% to end the trading session at 8534.1.
Currency Markets Review
On the currency markets last week, the Yen saw the best of trading. The Dollar strengthened against Sterling, climbing 0.75% and closing at 1.607345 to the Pound. The Greenback was also stronger against the Euro last week, rising 0.84% to close at 1.29453. The Dollar lost ground against the Japanese currency, closing at 78.31285 to the Yen, a fall of 0.45%.
The Euro weakened against the Yen ending at 101.3783, a fall of 1.3% over the course of the week. The Euro was weaker against Sterling over the course of the week, shedding 0.1%; the close saw one £ buying 1.241644.
Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $114.6 per barrel (for November delivery); a hike of 2.4% over the course of the week’s trading. The value of gold was lower last week, closing at $1766.8 per ounce, representing a loss of 0.97% over last week’s value.
The data that supports this article is drawn from Bloomberg and The Financial Times.