Trading review for the previous week (Jan 01 - Jan 05)

In this article, we would like to present the review of financial markets targeting the major financial instruments during the period from Jan 01 to Jan 05.

Indexes:

The first week of this year saw a very sanguine affair, with most indexes strongly mounting.

Heading into Europe, the FTSE (UKX) advanced by 0.16% over the course of the five sessions, closing at 7709.7. The DAX recorded an energetic pick-up of 3.04%, trading at 13310.6. The CAC40 also strongly ascended around 2.98% to finish up at 5470.8.

In the US, the Nasdaq traded at 7135.9 on last week’s close, climbing by 3.36% during the week. The DOW continued to make a new record peak at 25295.87, increasing around 2.33%.

Switching to Japan, the Nikkei 225 posted a robust rise of 4.15%, finalizing at 23721.9.

Forex market:

Looking out over the Forex market, despite the fact that U.S. ADP Non-Farm Employment Change figure towered in addition to Average Hourly Earnings and Unemployment Rate data remaining steady, the Greenback last week continued to weaken versus major currencies because of the U.S. Non-Farm Employment Change figure posting a strong decline. Meanwhile, the Euro was slightly hit by a negative CPI Flash Estimate announcement. In total, the Euro – US Dollar advanced by 0.25% during the previous week, finishing up at 1.20297.

The Pound Sterling looked so stymied on conflicting reports but still found itself strengthening against its US namesake thanks in large part due to the Greenback’s vulnerability. In summary, the British Pound – US Dollar climbed around 0.48% over the course of the week, locked at 1.35649.

The USD/JPY currency pair traded lower from earlier last week, but then rallied in defiance of the Greenback making a bearish scenario. In conclusion, the US Dollar – Japanese Yen ended up the week’s sessions at 113.030, mounting by 0.34%.

The Canadian Dollar recorded a positive affair mostly because Canada’s Employment Change held steady instead of plunging as economists had predicted. Combined with the Unemployment rate making a new record low, in addition to the USD’s devaluation, the Greenback – Loonie traded lower about 1.21%, finalizing at 1.24116.

The Australian Dollar – Greenback last week got a lift regardless of Australia’s Trade Balance figure well falling. In total, the Aussie – USD topped around 0.84% to finish up the week at 0.78617.

Alongside the Australian namesake, the New Zealand Dollar also found itself ascending versus its US cousin by 1.04% to end up at 0.71655 on last week’ close, largely due to the extremely aggressive support from USD bears.

Other assets:

The US Dollar’s deterioration was the main element boosting the yellow metal’s prices last week. Summarily, XAU/USD made a gain of 1.26% over the course of the week, trading at 1319.231.

Oil prices continued to make a new 2-year high at 61.57, rising by 2.48% during the previous week, thanks in large part due to a strong decrease in Crude Oil inventories data.

Bitcoin found itself growing versus the US Dollar last week. In conclusion, the most famous cryptocurrency rose about 15.0% during the week, trading around $16,600.
See also:
Weekly trading forecast October 15 - 19
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