Trading review for the previous week (Dec 25 - Dec 29)

In this article, we would like to present the review of financial markets targeting major financial instruments during the period from Dec 25 to Dec 29.

Indexes:

Last week witnessed a mixed trading affair for indexes.

Heading into Europe, the FTSE posted a strong advance of 1.45% during the prior week, trading at 7696.8. Conversely, the DAX descended by 1.21%, closing at 12917.6. The CAC40 also dropped by 0.95% to finalize at 5312.6.

In the US, the Nasdaq retraced back to 6904.8, losing around 0.81% over the course of the five sessions. The DOW inconsiderably slipped by 0.02%, locked at 24719.22.

In Japan, the Nikkei 225 suffered a loss of 0.55%, finishing up the week at 22768.4.

Forex market:

Looking out over the currency market, last week witnessed the US Dollar sharply pushed lower versus its G10 FX counterparts because there were two high-profile economic announcements coming in negatively (U.S. CB Consumer Confidence and Unemployment Claims). Therefore, the Euro – Greenback was well boosted despite the fact that the European currency remained under pressure due to the European Central Bank’s passive tightening plan. In total, EUR/USD vigorously climbed by 1.18%, trading at 1.19990 on the previous week’s close.

The British Pound also found itself strongly strengthening against its US namesake since USD bears were coming back into the fray. Summarily, the Sterling – Greenback printed a gain of 1.01% over the course of the week, finalizing at 1.34996.

The Japanese Yen also well benefited from the Greenback’s deterioration. The USD/JPY currency pair ended up the week’s sessions at 112.654, decreasing around 0.5% in defiance of Bank of Japan President Haruhiko Kuroda remaining persistent with his ultra-loose monetary settings.

In response to the US Dollar’s descent, the Greenback – Canadian Dollar also headed lower during the previous week. USD/CAD lost around 1.23%, locked at 1.25655 on last week’s close.

In contrast with the USD – cross pairs, the Australian Dollar – Greenback has recorded a very optimistic week thanks to the US Dollar painting a bearish picture. In total, the currency pair made another robust gain of 1.08% over the course of the five sessions to finish up at 0.77970.

Alongside the Australian cousin, the New Zealand Dollar last week also found itself sharply trading higher versus its US counterpart. The Kiwi – Greenback’s gain during the previous week was confirmed about 1.04%, with the currency pair closing at 0.70903.

Other assets:

Needless to say, a very sanguine week for the flagship anti-fiat asset has been recorded thanks in large part due to the US Dollar’s devaluation. Rising for four consecutive days, Gold prices totally ascended by 2.19%, finalizing the prior week at 1302.632.

Oil prices also strongly increased last week regardless of a worse-than-expected Crude Oil Inventories release. The USOIL finished up the week’s sessions at 60.09, making a remarkable gain of 2.98%.

The most popular digital currency saw a negative week. In total, Bitcoin fell nearly 7.0% versus the US cousin during last week, trading around $13100.
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