Trading review of the previous week (Jan 29 – Feb 02)

In this article, we would like to present the review of financial markets targeting the major financial instruments during the period from Jan 29 to Feb 02.


This week marked a highly negative affair, with most indices tremendously dropping.
Heading into Europe, the FTSE recorded a strong descent of 2.89% during the previous week, trading at 7443.4. The DAX was even worse with a fall of 4.15%, finishing up at 12785.2. The CAC40 also decreased by 2.98%, finalizing at 5365.0.

In the US, the NASDAQ sharply slipped about 3.54% over the course of the five sessions, locked at 7241.0. The DOW alongside plunged by 4.15% to end up at 25520.96.

In Japan, the Nikkei 225 tumbled about 1.47%, trading at 23274.5 on last week’s close.

Forex market:

Looking out over the currency market, the US Dollar’s deterioration continued from earlier last week but was curbed on Friday as Non-Farm Employment Change, Average Hourly Earnings and Unemployment Rate came in optimistically. Meanwhile, Euro-zone’s CPI Flash Estimate released below its previous announcement was the main element undermining the single currency’s bullish momentum. In total, the Euro – Greenback finished the week’s sessions moving up by only 0.21%, finalizing at 1.24560.

The British Pound during the prior week was stimulated by fresh comments of Bank of England President Mark Caney; however, since the Greenback was stabilized by a series of positive economic data releases on Friday, the Cable – Greenback exchange turned back to trade lower and removed all its gain made earlier. Summarily, GBP/USD suffered a loss of 0.26%, closing at 1.41196.

The US Dollar – Japanese Yen exchange has spent a week robustly rallying in a nod to the Greenback’s increase. In total, USD/JPY advanced by 1.43% over the course of the five sessions, locked at 110.134.

Last week printed a mixed trading week of the Greenback – Canadian Dollar, with bears dominating the game from Monday to Thursday until they were counterattacked on Friday on the back of a string of upbeat news for the USD. The bearish momentum led by the sanguine GDP report couldn’t last long ahead of aggressive bulls, sending the currency pair higher by 0.91% during the week to end at 1.24260.

The Australian Dollar found itself strongly weakening versus its US namesake mostly because Australia’s CPI and Trimmed Mean CPI were broadcast remaining at the previous levels. In conclusion, the Aussie – Greenback sharply decreased by 2.32% over the course of the week, trading at 0.79201.
The New Zealand Dollar – US Dollar posted positive movements during last week until bears were back in play against the backdrop of a stronger USD. Summarily, the Kiwi – Greenback exchange headed lower about 0.79%, locked at 0.72969 on the previous week’s close.

The Australian Dollar
Source: Societe Alliance

Other assets:

The yellow metal recorded a negative affair last week largely due to the Greenback’s stabilization. In total, Gold prices descended about 1.24% during the five sessions, finalizing at $1332.879 per Ounce.
Oil prices printed a slide following the surge in U.S. Crude Oil Inventories. A loss of 1.66% has been recorded over the course of the week, making the USOIL slide to $65.03 per barrel.

Last week continued to witness the most popular virtual currency trend lower. At the time of writing, BTC/USD is trading at $8,778, immersing about 24.39%.
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