In Europe, almost all indexes soared at the beginning of the week then retraced. At the end of the week, the FTSE slightly rose by 0.23%, trading at 7327.5. The CAC was up by 1.05% on last week’s close at 5114.2. The DAX was the strongest index when making a gain of 1.27%, closing at 12175.2.
Switching to the US, both the Nasdaq and the Dow also soared at last Monday’s opening session, but finally ended up lower than last week’s open. The Nasdaq lost around 0.68%, closing at 5790.9, and the Dow also dropped by 0.85%, trading at 21672.4 over the course of the week.
In Japan, the Nikkei 225 ended the week down by 0.42%, closing at 19464.4.
EUR/USD was down by 0.52% to finish up at 1.17587 over the course of the week. The reason might be because there were two sources suddenly broadcasting that ECB’s Draghi will not deliver a hawkish tone at the U.S. Federal Reserve’s Jackson Hole conference starting on Thursday this week, while the US dollar collected a series of good news last week.
Pound Sterling kept heading lower due to a series of negative economic releases recently which caused the UK a currently vulnerable economy. Last week, UK’s CPI remaining at 2.6% continued to disappoint global investors, making the British Pound weaken against the Greenback by 1.04%, trading at 1.2990 at the end of the week.
USD/JPY found itself shooting up on Monday but then retreating, closing at 109.195, slightly +0.04% during the week. The Japanese Yen has been being appreciated by global investors because of the rising geopolitical tensions between the US and North Korea lately.
The Greenback-loonie dropped by 0.72% to end up at 1.25837 on last week’s close. Canada’s economy has recently grown substantially with plenty of positive economic data, suggesting that Bank of Canada (BoC) may adopt a hawkish tone in the near future.
AUD/USD fell well on last Tuesday due to the more-dovish-than-expected monetary policy meeting, but then found fuel to turn higher on last Thursday thanks to the unexpected rising employment figure and the low unemployment rate. The Australian Dollar finished up the week strengthening versus the US Dollar by 0.46%, trading at 0.79278.
NZD/USD plunged on last Tuesday but then spectacularly reversed to turn higher on Wednesday last week since New Zealand’s PPI Input figures were outstanding of its expectations. The Kiwi-Greenback trivially dropped by 0.08% over the course of the week’s trading, closing at 0.73099.
Crude oil prices traded lower on Monday last week but then made a remarkable bullish move on last Friday to end up at 48.61 per barrel, slightly down by 0.18%. XAU/USD (gold prices) found itself tumbling during the week and finishing up forming an impressive shooting-star candlestick on Friday last week, trading at 1283.76 (-0.35%).