Monday, November 22, 2010

FOREX November 22nd: The Last Week’s Trading Activities In Perspective

It was a mixed week for the world’s major stock exchanges last week. In Europe over the course of the week, the FTSE shed 1.1%, closing at 5732.8; the Dax put on 1.6%, ending the week at 6843.6; the CAC also rose by 0.76% to end the session at 3860.2.

The Dow ended the week higher to the tune of 0.1%, finishing the trading session at 11203.6 The Nasdaq ended the week unchanged, closing at 2518.1.

The Nikkei was the star performer last week. It closed up by 3.1% over the course of the week ending trading at 10022.4 as the Yen eased further against the Dollar.

On the currency markets last week, the Dollar had the best of the trading as concerns over the Irish debt crisis persisted. The Dollar was higher against Sterling by 0.27% closing at 1.5989 to the Pound. The Greenback was also stronger against the Euro by 0.27%, to close at 1.3674. The Dollar was higher against the Japanese currency at 83.4357 to the Yen, a gain of 1.6% on the week.

The Euro closed up against the Yen ending at 114.09, regaining 1.3%. The Euro strengthened against Sterling over the course of the week by 0.53%. The close saw one £ buying 1.1693€. The Euro recovered against the other majors over the course of the week as a solution to the Irish debt crisis seemed more likely.

On the commodities market, the price for Brent crude was lower, closing at $84.3 per barrel (for January delivery); a fall of 2.3% over the course of the week’s trading. The value of gold relaxed further, closing at 1351.3 per ounce; representing a loss of 1% over last week’s value.

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