Forex Week in Review- Sept. 15, 2014
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.
Last week was a mixed affair for the world’s major stock markets with only the Dax and Nikkei making ground. In Europe over the course of the week, the FTSE was down by 0.7%, it closed at 6807; the Dax ended at 9651.1, up by 1.8% on last week’s close; the CAC was down by 1% to end the session at 4441.7. The Dow ended the week down by 0.87% to close at 16988. The Nasdaq composite index ended down by 0.33% over the course of the week at 4567.8. The Nikkei 225 ended the week’s trading up by 1.7% to end the session at 15938. On the currency markets last week, the Dollar saw the best of the trading again (just). The Dollar was stronger against Sterling last week closing at $1.6241 to the Pound; a gain of 0.42% over the week. The Greenback strengthened against the Euro last week by 0.02% to close at $1.2956 to the €. The Dollar was stronger against the Japanese currency, closing at 107.2 Yen to the Dollar, making a gain of 2.2% during the week. The Euro strengthened against the Yen ending at 138.9, a gain of 2.2% over the course of the week. It made ground against Sterling last week rising by 0.41%; the close saw one £ buying €1.2536. On the commodities market, the price for Brent crude ended lower at $97.1 per barrel (for October delivery), a fall of 3.7% over the course of the week’s trading. The value of gold was lower last week, closing at $1231.5 per ounce, a loss of 2.7%.