18 June 2016 Market Review
“Brexit” again was the major catalyst for the financial markets losing ground again this week.
The FTSE closed the week at 6021.9 to be down 1.5%. The Dax slid this week 2.1% with a close of 9631.4. The CAC closed the week at 4193.8 to be down 2.6%.
The Dow ended the week at 17675 to be down 1.1%. The Nasdaq Composite Index closed the week at 4800.3 to be down 1.9%.
The Nikkei 225 closed the week at 15600 to be down a huge 6%.
The Yen had the best trading week among the major currencies owing to the fact that it is looked upon as a safe-haven in times of uncertainty with “Brexit” looming. The Dollar gained against the Sterling 0.43% for the week with a close of $1.4282. The Dollar also gained against the Euro for the week by closing at $1.1253 to be up 0.24%. The Dollar did lose ground however against the Yen 2.7% for the week by closing at 104.2.
The Euro lost ground against the Yen 2.9% for the week by closing at 117.3. The Euro did gain traction against the Sterling by closing at 1.2692 to be up 0.2%. The Euro was basically flat against the CHF with a loss of 0.05% to close the week at 1.1082.
Brent Crude fell 2.7% for the week with a close of $49.17 per barrel. Gold had a nice gain of 1.9% for the week by closing at $1300.1 per ounce.