Trading review for the previous week (Feb 26 - Mar 02)

In this article, we would like to present the review of financial markets targeting the major financial instruments during the period from Feb 26 to Mar 02.


Last week was a highly negative affair with most indices tumbling.
In Europe, the FTSE finished up at 7069.9, losing about 2.3% over the course of the five sessions. The DAX posted a tremendous decline of 4.3%, trading at 11913.71. The CAC40 also descended by 3.31%, closing at 5136.6.
Switching to the US, the NASDAQ ended at 7257.9, declining by 1.19% during the previous week. The DOW (DJI) decreased about 3.14%, finalizing at 24538.1.

In Japan, the Nikkei 225 traded at 21181.6 on last week’s close, falling about 3.18%.

Foreign exchange market:

Looking out over the currency market, the Greenback last week shot up versus its FX counterparts on the back of new Fed Chair Jerome Powell’s hawkish commentary in his first public appearance. However, the European currency was also stimulated by ECB Governor Mario Draghi’s speech which mentioned that Euro-zone’s economic strength gathered momentum alongside inflation picking up at a faster pace. In total, the Euro – Dollar exchange amounted to advance about 0.22% during the five sessions, trading at 1.23160 on the prior week’s close.

The British Pound – US Dollar remained under pressure during the previous week because of the USD’s prospect in 2018 stabilized. Summarily, the Cable – Dollar exchange printed a decrease of 1.21%, trading at 1.37998.

In spite of the Greenback painting a bullish picture, the USD/JPY currency pair turned out to trade lower last week since the Japanese Yen was also a robust performer. In total, the US Dollar – Japanese Yen finished up the week’s sessions at 105.712, trading lower by 1.09%.

The US Dollar – Canadian Dollar got a strong uplift during the prior week because the Loonie’s future in near-term has been pressurized by the pessimistic GDP report. A surge of more than 2.0% has been recorded with the currency pair finishing up at 1.28849.

The Australian Dollar posted a negative trading week with the Private Capital Expenditure release coming in worse-than-expected. Coupled with a stronger Greenback, the Aussie found itself weakening against its US namesake about 0.96%, finalizing at 0.77605 on last week’s close.

The Australian Dollar
Source: WA Business News

Alongside the Australia counterpart, the New Zealand Dollar also tumbled versus most of the major currencies regardless of New Zealand’s ANZ Business Confidence printing positively compared to its last announcement. In conclusion, the NZD/USD currency pair descended by 0.76%, locked at 0.72398 in the last New York trading session of the previous week.

Other assets:

The flagship anti-fiat asset witnessed a strong decrease from earlier last week but then rallied. In total, the precious metal was just 0.39% lower, trading at 1322.30 on the previous week’s close.

Last week was a negative affair for Oil prices despite the growth in U.S. Crude Oil Inventories. In summary, the USOIL suffered a loss of 3.6% over the course of the five sessions, ending at $61.43 per barrel.

The world’s most famous virtual currency was a relatively vigorous performer last week. At the time of writing, Bitcoin is trading around $11,100, climbing by 19.57%.
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