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FOREX: November In Perspective


Economic parameters vary with great speed over the course of a trading day. For this reason, it is useful to look at data over a slightly longer term to gain an insight into any trends that might be emerging which can be exploited for your investment strategy. As this is the last Monday in November, the time is right for such a perspective.

In Europe, the FTSE lost 0.85%, closing at 5251.4 at the end of the week; the CAC was down significantly over the course of the week, losing 2.0%, closing at 3729.4; the Dax closed lower at 5663.2, down by 0.4%. Japan’s Nikkei ended the trading substantially lower, closing at 10282.99; a loss of 2.8%. In the States, the Dow closed down up 0.46%, finishing the trading session at 10318.2. In contrast, the Nasdaq shed 1% of its value; closing at 2146.0.

Over the course of the month so far, the Nasdaq has gained 1.6%; the Dow Jones has put on 3%; the FTSE rose by almost 2.1%; the Dax gained 3.2%; the CAC is up by 0.6%; however the Nikkei has bucked the trend, losing 3%.

On the currency markets last week, the Dollar lost further ground against the Yen (89.01, -0.88%). Against the Euro it strengthened somewhat, closing at 1.482, up 0.36% over the previous week’s rate. The American currency also made ground against the British Pound (1.648, 1.23%). The Euro continued to weaken against the Yen last week to close at 131.87 Yen to 1€; (-1.2%). It gained against the British Pound last week, one £ buying 1.1122€ (0.88%).

Over the course of the month so far, the Dollar has weakened against the Yen by 1.8%, but against the Euro, it gained 0.3% over the course of the month. The Greenback gained 0.7% against Sterling. The Yen has rallied against other major currencies over the month, making 2.1% of its value against the Euro. Sterling has ended the month down by 0.35% against the Euro.

On the commodities market, the price for Brent crude oil was higher against last week’s mark. Brent crude rose by 2.18% over the course of the week, closing at $77.20 per barrel (for January delivery). The value of gold closed was up at 1142.3$ per ounce.

Over the course of the month, the value of oil has risen by nearly 1.8% and gold has appreciated by 4.8%.