Trading review for the previous week (Oct 9 - Oct 13)

In this article, we would like to present the review of financial markets targeting to the main assets during the period from Oct 9 to Oct 13.

Indexes:

Last week was generally another positive affair, however, most indices didn’t trade far.

In Europe, the FTSE finished up the week’s trading sessions at 7552.2, rising by 0.44%. The DAX traded higher by 0.32%, closing at 12998.1. The CAC40 slightly dropped around 0.14%, locked at 5351.7.

Switching to the US, the Nasdaq trivially increased around 0.26% over the course of the previous week, ending up at 6606.2. The DOW also printed a small rise of 0.45%, finishing at 22878.7.

Japan’s Nikkei 225 was the strongest indices since it posted a surge of 2.26% during the week, trading at 21161.2.

Forex market:

Heading into the currency market, despite European Central Bank (ECB) President Mario Draghi’s dovish rhetoric which hinted that the policy interest rate will continue to be left unchanged in mid-term, the Euro still found fuels to advance versus major FX currencies thanks to Fed Chair Janet Yellen’s forecast that there will only be one interest rate hike next year. Combined with some important economic releases reported negatively which mainly caused the USD retracement during the past week, the Euro – Greenback ascended around 0.74% to close at 1.18173.

Benefiting well from the Manufacturing Production data which came in positively, in addition to the Greenback’s bearish movement, Pound Sterling climbed fairly against its counterparts regardless of recent signs showing a possible resumption of the sluggish economy caused by Brexit. In total, the British Pound strengthened versus the US cousin around 1.66%, finishing the week at 1.32799.

The Japanese Yen – US Dollar headed lower over the course of the earlier week largely because of the Greenback’s deterioration caused by the Fed’s dovish tone. Combined with a strengthening JPY made by the main driver North Korea, the USD/JPY currency pair found itself losing by 0.68%, trading at 111.828 on last week’s close.

USD/CAD’s bullish momentum seemed to accomplish during the week with a swing top nicely developing. Despite the Greenback’s retracement, the US Dollar – Canadian Dollar finished up at 1.24658, down around 0.45%.

The Australian Dollar printed an energetic surge against its G10 FX currencies, especially the US Dollar. In total, the AUD/USD pair ascended by 1.52% over the course of the week, trading at 0.78872.

counterparts during the previous week. In conclusion, the Kiwi – Greenback was confirmed ending at 0.71713, pushed higher by 1.18%.

Commodity market:

Last week marked the end of Gold’s short-term bearish movement with an affirmed bullish reverse thanks in large part due to the Greenback’s deterioration. In total, the precious metal’s prices strongly rose by 2.21% to finish up the week at 1304.40.

Along with XAU/USD, crude oil’s risk-trend also came to an end. The USOIL energetically advanced by 4.21% to close at 51.41, erasing all the losses during the period from Sept 28 to Oct 9.
See also:
Weekly trading forecast December 10 - 14.
Weekly trading forecast December 10 - 14.
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Weekly trading forecast December 3 - 7
Weekly trading forecast December 3 - 7
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