Last week was a positive affair for global financial markets, with most indexes making impressive moves. In this article, we present the review of financial markets targeting to the main assets during the period from Sept 11 to Sept 15.
In Europe, only the FTSE suffered a big loss of 2.27%, closing at 7210.9 at the end of the week. On the contrary, the DAX robustly rose by 1.76% to finish at 12522.5, along with the CAC40 increasing by 1.93%, trading at 5213.9.
In the US, the Nasdaq ended at 6447.1, climbing by 1.36% over the course of the previous week. The Dow also made a remarkable gain of 2.14%, closing at 22267.4.
Switching to Japan, the Nikkei 225 strongly advanced by 3.25% to trade at 19902.2.
Heading into currency markets, the Euro – Greenback last week intentionally retraced after trading to a new 32-month high. The eurozone currency has recently received boosts from ECB President Mario Draghi who hinted that the QE cutting process would be activated at the beginning of 2018. Meanwhile, the previous week delivered some positive news for U.S. economy such as the CPI figures confirmed rising well, or initial jobless claims slipping. EUR/USD amounted to slide around 0.78% during the week, trading at 1.19418.
Despite a string of negative economic data releases lately pointing that the economy of the United Kingdom is fairly sluggish, the British Pound still found itself impressively surging versus its FX counterparts in the last two days of the prior week thanks to Bank of England (BOE)’s hawkish rhetoric in the UK’s MPC monthly meeting taking place on last Thursday. Summarily, the GBP/USD currency pair was up by 2.97% to end up the week at the new 14-month peak of 1.35852.
The US Dollar – Japanese Yen has spent a week energetically ascending most likely because of U.S. positive announcements mentioned above. Nevertheless, on Thursday last week, North Korea continued to test their weapons by firing a missile over Japan, causing both the Japanese Yen and the Greenback to tumble on Sept 14 – Sept 15. In conclusion, USD/JPY finished up at 110.828, strongly rising by 2.78%.
The Canadian Dollar was quite static during the period from Sept 11 to Sept 15 since there were no important economic broadcasts of the Canada. USD/CAD consolidated in the whole week and ended up slightly increasing by 0.25% to trade at 1.21925.
Although Australia’s employment figure beat economists’ expectations and unemployment data continued to remain at a low level, the Australian Dollar, unexpectedly, weakened versus major currencies last week. The Aussie - Greenback was down by 0.61%, finalizing at a nice number 0.79998 by the end of the latest New York trading session.
NZD/USD had a week struggling since the Kiwi hasn’t found any fuel to make remarkable moves. The currency pair finished up trivially advancing by 0.42% to trade at 0.72881 on last week’s close.
Gold prices headed lower last week due to the strengthening of the US dollar, while crude oil prices sharply increased. Generally, XAU/USD dropped by 1.97% to end at 1319.70. The USOIL energetically grew around 4.84%, trading at 49.80.