Trading review for the previous week (Oct 30 - Nov 3)

In this article, we would like to present the review of financial markets targeting to the main assets during the period from Oct 30 to Nov 3.

Indexes:

Last week was a positive affair with indices trading mixed.

Heading into Europe, the FTSE made a gain of 0.66% over the course of the week to close at 7560.6. Meanwhile, the DAX made a surge in Monday’s session and finish at 13481.2, advancing by 1.94% during the previous week. The CAC40 merely climbed by 0.33%, finishing at 5518.0.

Switching to the US, the Nasdaq printed an increase of around 1.0% during last week, trading at 6763.8. The DOW ascended by 0.44%, ending at 23537.5,

In Japan, the Nikkei 225 continued to make a new peak with a climb of 2.35% to finish up the week at 22527.9.

Forex market:

Looking out over the currency market, the US Dollar last week found itself energetically towering versus its G10 FX counterparts thanks in large part due to the stimuli delivered by a series of U.S. upbeat economic data releases including the lower Unemployment rate and positive ADP Non-Farm & Non-Farm Employment data. That caused the euro-dollar exchange to erased its gain made from earlier last week and finished up at 1.16067 over the course of the five sessions, inconsiderably moving up by 0.02%.

Pound Sterling received fuels from the Bank of England last week since BOE President Mark Carney decided to double the policy interest rate to 0.5%. Besides, MPC Official Bank Rate Votes also showed a hawkish intention of UK policymakers with a 7-to-2 result, satisfying traders’ expectations and signaling for more hawkish actions in the coming year. However, GBP/USD lost by 0.38% due to the Greenback’s strengthening, trading at 1.30744 on last week’s close.

The Japanese Yen was deteriorated by BOJ Governor Haruhiko Kuroda who left the key interest rate unchanged at 0.1%. Combined with a strong US Dollar, the Greenback - Japanese Yen currency pair advanced around 0.37% to end up the week’s sessions at 114.047.

The US Dollar – Canadian Dollar was gamboling during last week largely because a string of important economic announcements from Canada and the US were reported mixed. In conclusion, the Greenback – Loonie exchange descended by 0.36%, locked at 1.27585.

The Australian Dollar, after finding a rare light from Australia’s Trade Balance which was reported climbing twofold compared to its October data, continued to be sold-off in its current bearish trend. Summarily, the Aussie – Greenback finalized at 0.76480 on last week’s close, dropping around 0.32%.

The New Zealand Dollar was boosted by a strong growth in the New Zealand Employment figure along with the Unemployment rate breaking its previous nadir. Nevertheless, the Kiwi – Greenback only rallied around 0.47% on the news to close at 0.69051 because of the Greenback’s strengthening.

Commodity market:

Gold prices were hit last week mostly because of the bright prospect of U.S. economy in the mid-term. In total, XAU/USD continued to fall by 0.26% during the previous week, trading at 1269.47.

Crude oil prices found fuels from Saudi Crown Prince Sheikh Mohammed bin Salman who planned to extend the OPEC-led deal to reduce oil production. The USOIL continued to make another surge of 2.79% over the course of the previous week to close at 55.62.
See also:
Weekly trading forecast December 10 - 14.
Weekly trading forecast December 10 - 14.
10.12.2018
Market reviews
Weekly trading forecast December 3 - 7
Weekly trading forecast December 3 - 7
03.12.2018
Market reviews