9 January Market Review
9 January 2016
With the loss of confidence in the Chinese markets as well as the devaluation of the Yuan, the world’s major markets took a significant loss.
Europe had losses across the board with the FTSE down 5.3% to close at 5912.4, the Dax down 8.3% to close at 9849.3, and the CAC down 6.5% to close at 4333.8.
The Dow closed at 16346 to end the week down 6.2%. The Nasdaq closed at 4643.6 to end the week down 7.3%.
The Nikkei 225 was also down 7% on the week to close at 17698.
The Yen had the best week of trading in the currency markets. The Dollar gained against the Sterling 1.5% for the week to close at $1.4516. It fell however against the Euro by 0.26% to close at $1.0887. It also fell against the Yen by 2.4% for the week to close at 117.8.
The Euro struggled against the Yen with a loss of 2.1% for the week to close at 128.2. It however gained against the Sterling by 1.8% to close the week at 1.3338.
Against the CHF, the Euro lost slightly at 0.16% to close at 1.0857.
Brent Crude fell 10% over the week to close at $33.55 per barrel. Gold had a nice run this week to close at $1102 per ounce and gain 4.1% on the week.