Trading review for the previous week (Mar 19 - Mar 23)

In this article, we would like to present the review of financial markets targeting the major financial instruments during the period from Mar 19 to Mar 23.

Indexes:

Last week was a highly pessimistic affair for most indices.

Heading into Europe, the FTSE (UKX) ended up the five sessions at 6921.9, descending by 3.24%. The DAX alongside decreased about 4.11%, finishing at 11886.31. The CAC40 also suffered a considerable loss of 3.65%, finalizing at 5095.2.

Switching to the US, the NASDAQ popped from its record peak to 6992.7, losing by 7.1% over the course of the week. The DOW (DJI) also plunged to 23533.20, posting a decrease of nearly 6.0%.

In Japan, the Nikkei 225 declined about 4.67% during the week, trading at 20617.9.

Foreign exchange market:

Looking out over the Forex market, most of the currency – USD pairs recorded optimistic developments last week largely because of speculators taking profits on the Greenback following the Federal Reserve’s interest rate hike decision. In conclusion, the Euro – Greenback exchange finished up the week’s sessions at 1.23530, climbing by 0.55%.

The previous week was a positive affair for the Pound Sterling thanks in large part due to a series of better-than-expected economic data releases, including UK’s Retail Sales, Average Earnings Index 3m/y. Shrugging off the negative CPI report, the British Pound – US Dollar exchange witnessed a robust pick-up of 1.36% during the five sessions to close at 1.41310.

The Japanese Yen continued to take advantage of the threat of a trade war ignited by U.S. steel and aluminum tariffs. Combined with the US Dollar’s pullback, the USD/JPY currency pair headed lower to 104.712 on the prior week’s close, decreasing about 1.15%.

The Japanese Yen
Source: Wikipedia


The Greenback – Canadian Dollar exchange last week saw a negative development due to both a weaker USD and a stronger Loonie, boosted by the highly sanguine Canadian Core Retail Sales announcement. In summary, USD/CAD printed a loss of 1.55% over the course of the five sessions, finalizing at 1.28936.

The Australian Dollar continued struggling in its downward tendency in the backdrop of dovish actions from the Reserve Bank of Australia, along with a higher Unemployment data. In total, the Aussie – Greenback traded at 0.77038 on last week’s close, sliding by 0.04%.

The New Zealand Dollar – US Dollar got a lift during the previous week thanks in large part due to the Greenback’s bearish correction. The Kiwi - USD exchange advanced by 0.38%, finishing up at 0.72403 in Friday’s last trading session.

Other assets:

Needless to say, the flagship anti-fiat asset was a very vigorous performer during the prior week because of the USD’s pullback. An increase of 2.57% has been recorded with XAU/USD locked at 1346.92 on last week’s close.

Oil prices alongside posted a strong bullish move in response to the better-than-predicted Crude Oil Inventories report. In total, the USOIL closed at $65.72 per barrel, advancing around 5.54%.

The world’s most famous crypto asset traded on the defensive. At the time of writing, Bitcoin is trading around $8,480, so far posting a modest ascent of 3.19% over the course of the prior week.
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