The wave of optimism has continued for another week with all of the major markets ending higher. The Dow Jones Industrial Average has hit its highest level for five years, breaching the 14000 point level for the first time since October 2007.
In Europe over the course of the week, the FTSE was up by 1.3%, it closed at 6347.2; the Dax ended at 7833.4, rising by 1.1% over the course of the week; the CAC was up by 0.57% to end the session at 3773.5.
The Dow ended the week stronger to the tune of 0.82% at 14009.8. The Nasdaq composite index ended at 3179.1, making 0.93% over the course of the week.
The Nikkei 225 ended the week’s trading higher, gaining 2.4% to end the session at 11191.3.
On the currency markets last week, the Euro saw the best of trading. The Dollar was stronger against Sterling last week, closing at 1.5740 to the Pound; a rise of 0.379% over the week. The Greenback weakened against the Euro last week, slipping 1.7% to close at 1.3691. The Dollar made ground against the Japanese currency, closing at 92.54 to the Yen, a gain of 1.7% on the week.
The Euro strengthened against the Yen ending at 126.70, a gain of 3.4% over the course of the week. The Euro rose against Sterling last week by 2.1%; the close saw one £ buying €1.1497.
On the commodities market, the price for Brent crude ended higher, closing at $116.8 per barrel (for March delivery); a rise of 3.1% over the course of the week’s trading. The value of gold was higher last week, closing at $1669 per ounce, representing a gain of 0.54% over last week’s value.
Forex Week in Review- Feb. 4, 2013
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.