With the exception of the Nikkei, all of the world’s major markets closed lower as investors tried to come to grips with the idea that the Federal Reserve’s stimulus measures have to end at some stage.
In Europe over the course of the week, the FTSE was down by 3.1%, it closed at 6116.2; the Dax ended at 7789.2 falling 4.2% over the course of the week; the CAC was down by 3.9% to end the session at 3658.
The Dow ended the week lower, slipping 1.8% to end at 14799. The Nasdaq composite index ended at 3357.3, falling 1.9% over the course of the week.
The Nikkei 225 ended the week’s trading up by 4.3% to end the session at 13230.
Currency Markets Review
On the currency markets last week, the Dollar saw the best of trading. The Dollar was stronger against Sterling last week, closing at 1.5371 to the Pound; a rise of 2.1% over the week. The Greenback strengthened against the Euro last week climbing by 1.7% to close at 1.3112. The Dollar was stronger against the Japanese currency, closing at 97.49 to the Yen, making a gain of 3.3% during the week.
The Euro strengthened against the Yen ending at 127.8, a gain of 1.6% over the course of the week. The Euro made ground against Sterling last week rising by 0.41%; the close saw one £ buying €1.1722.
Commodities Market Review
On the commodities market, the price for Brent crude ended lower, at $100.9 per barrel (for August delivery); a fall of 4.7% over the course of the week’s trading. The value of gold was lower last week, closing at $1295.3 per ounce, representing a loss of 6.9% over previous week’s value.