Forex Week In Review – February 8, 2016

Last week saw all of the major markets lose ground and the oil price partially relinquish earlier gains. Unconvincing US job data sent markets lower at the end of the week, adding to losses.

In Europe over the course of the week, the FTSE was down by 3.9%, it closed at 5848.1; the Dax ended at 9286.2, down by 5.2% on last week’s close; the CAC was down by 4.6% to end the session at 4200.7.

The Dow ended the week down by 1.6% to close at 16205. The Nasdaq composite index ended down by 5.4% over the course of the week at 4363.1.

The Nikkei 225 ended the week’s trading down by 4% to end the session at 16820.

Currency Markets Review 

On the currency markets last week the Yen enjoyed the best of the trading, owing to its safe haven status. The Dollar was weaker against Sterling last week closing at $1.4466 to the Pound, a loss of 2% on the week. The Greenback fell against the Euro last week by 2.7% to close at $1.1129 to the €. The Dollar was weaker against the Japanese currency, closing at 117 Yen to the Dollar, making a loss of 3.4% during the week.

The Euro was weaker against the Yen ending at 130.2, a loss of 0.73% over the course of the week. It made ground against Sterling last week, rising by 0.71%; the close saw one £ buying €1.2998.

The Euro now buys 1.1062 CHF, a loss of 0.17% on the week.

Commodities Market Review 

On the commodities market, the price for Brent crude ended at $34.06 per barrel, a fall of 5.4% over the course of the week’s trading. The value of gold was higher last week, closing at $1173.9 per ounce, a gain of 5% on the week.