In this article, we would like to present the review of financial markets targeting the major financial instruments during the period from Jun 03 to Jun 09.
Last week observed a mixing trading affair for most indices. In Europe, the bearish tendency of the UKX was continued with another week decreasing 0.25% of value from last week and closed at 7681.1. The CAC40’s got the 3rd week declining since May 21 with a fall of 0.4% from last week’s number to 5450.2. In Germany, the DAX dropped by 0.7% from the opening of the week and closed at 12766.55.
Meanwhile, in the U.S, the NASDAQ (IXIC) bullish tendency continued with a modest rise to 7645.51 on Friday, printing an increase of 1.6% from last Friday. The DOW (DJI) had a significant rise of 3.45% to 25316.53 after an inconsiderable growth last week. In Japan, the Nikkei 225 bearish propensity end this week when the index advanced to 22171.4, posting a considerable climb of 1.06%. Foreign exchange market:
In the Forex market this week, the Greenback of the greatest economy had another optimistic week base on the positive publishing of ISM Non-Manufacturing PMI and the discussions of President Trump with European leaders. On Tuesday, the May ISM Non-Manufacturing PMI was announced, which was higher than forecast (58.6 in compared to 57.9). Besides, despite the hotly debated of the trade tariffs before, the discussions between the U.S President and other leaders of Canada, France, and other Europe countries were very constructive when all sides were aiming to a more open market. Finishing up the week’s sessions, the EUR/USD exchanged tumbled about 1.05%, trading at 1.17658.
Last week was a totally positive week for the British Pound because of the unpredicted high Construction PMI and Services PMI, both of which were higher than predictions. The Cable – Greenback exchange responded by advancing to 1.34050, growing by 0.5% over the course of the five sessions. From Japan, there was no significant news this week but the decline of some financial indices such as the monthly Bank Lending and Average Cash Earnings. The USD/JPY suddenly decreased to 109.511 (posting nearly no change from last week) after two continuous days increasing in value since Monday.
In Canada, the overview on market was mixing this week, given the higher-than-forecast Trade Balance of April and the negative Employment Change. The discussion of Mr. Trudeau and Mr. Trump opened a bright future for the trading affair between the two countries and that was the most important news on the Loonie this week. However, the CAD/USD reacted with a deep fall on Friday and closed the week at 1.29195, posting a slight decrease of 0.3% from last week.
In Oceania, the Australian financial market was busy this week with the very positive releases of Retail Sales and GDP q/q, as well as the stable Trade Balance. The AUD/USD advanced to 0.75944 and marked a growth of 0.4% from last week’s rate, while the NZD/USD ended the week at 0.70259 with an increase of 0.6% from last week’s.
The yellow metal had a slight increase this week with a rise from Monday’s price, finishing at 1297.72, recording a growth of nearly 0.43% from the opening of the week.
Oil price had another modest fall this week with the WTI benchmark landed at $65.49 per barrel, posting a fall of 0.45% from last week’s close. In the cryptocurrency market, the Bitcoin had a modest slide week. At the time of writing, BTC/USD is trading around $7,623.8.