Last week was another negative affair for the world’s major markets. It may be that this is a correction, or it could be that concerns over the consequence of deeper trade wars and the threats caused by a “no deal” Brexit are rattling markets.
In Europe over the course of the week, the FTSE was down on last week’s close by 4.4% at 6995.9; the Dax ended at 11524, 4.9% down on last week’s close; the CAC was down by 4.9% to end the session at 5096.
The Dow ended the week down by 4.2% to close at 25340. The Nasdaq composite index was down by 3.7% over the course of the week at 7496.9.
The Nikkei 225 ended the week’s trading down by 4.6% to end the session at 22695.
Currency markets review
On the currency markets last week, the Yen enjoyed the best of the trading. The Dollar was weaker against Sterling last week closing at $1.3156 to the Pound, a fall of 0.4% on the week. The Greenback was weaker against the Euro last week slipping by 0.49% to close at $1.1560 to the Euro.
The Dollar weakened against the Japanese currency closing at 112.0 Yen to the Dollar, making a loss of 1.4% during the week.
The Euro was weaker against the Yen ending at 129.5, a loss of 0.92% over the course of the week. It was stronger against Sterling last week, the close saw one £ buying €1.1381, a gain of 0.1% on the week.
The Euro now buys 1.1461 CHF, up by 0.38% on the week.
Commodities market review
On the commodities market, the price for Brent crude ended at $80.43 per barrel, a fall of 4.4% over the course of the week’s trading. The value of gold was higher last week closing at $1219.4 per ounce, a rise of 1.4% on the week.