It was a mixed week for the world’s major stock exchanges with Europe and Japan markets gaining whilst the American markets fell.
In Europe over the course of the week, the FTSE was up by 0.12%, it closed at 5921.8; the Dax ended at 7596.5, climbing by 1.1% over the course of the week; the CAC was up by 1% to end the session at 3643.3.
The Dow ended the week weaker to the tune of 0.15% at 13135. The Nasdaq composite index ended at 2971.3, shedding 0.22% over the course of the week.
The Nikkei 225 ended the week’s trading higher, gaining 2.2% to end the session at 9737.6 ahead of Sunday’s general election which was largely predicted to return the Liberal Democratic Party to power.
On the currency markets last week, the Euro saw the best of trading. The Dollar was weaker against Sterling last week closing at 1.61404 to the Pound, a fall of 0.69%. The Greenback also weakened against the Euro last week, losing 1.9% to close at 1.31333. The Dollar made ground against the Japanese currency, closing at 83.53166 to the Yen, a gain of 1.2% on the week.
The Euro strengthened against the Yen ending at 109.7044, a gain of 3.3% over the course of the week. The Euro was also stronger against Sterling over the course of the week, rising by 1.2%; the close saw one £ buying €1.22897.
On the commodities market, the price for Brent crude ended higher, closing at $109.2 per barrel (for January delivery); a hike of 2% over the course of the week’s trading. The value of gold was lower last week, closing at $1696.3 per ounce, representing a fall of 0.3% over last week’s value.
Forex Week in Review- Dec. 17, 2012
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.