On the currency markets last week, GBP enjoyed the best of the trading. USD was weaker against GBP last week closing at $1.3556, a loss of 0.16% on the week. USD was essentially unchanged against the EUR last week falling by 0.01% to close at $1.1949. USD strengthened against the JPY, closing at 109.3, making a gain of 0.11% during the week.
EUR was stronger against JPY, ending at 130.6, a gain of 0.12% over the course of the week. It lost little against GBP last week falling by 0.14%, the close saw one £ buying €1.1345.
EUR now buys 1.1948 CHF, down by 0.04% on the week.
The acceleration of the upside in the buck dragged EUR/USD to clinch fresh YTD lows around 1.1820, albeit gaining some attention afterwards.
The USD/JPY extends its gains after breaking 110.00 and trades above 110.30, the highest in three months. US bond-yields are at new multi-year highs and are sweeping the greenback higher. The move began before the publication of slightly upbeat US Retail Sales.
Last week was a positive affair for the world’s major stock markets with all the major markets closing above the previous week’s mark.
In Europe over the course of the week, the FTSE was up on last week’s close by 2.1% at 7724.6; the Dax ended at 13001, 1.4% up on last week’s close; the CAC was up by 0.47% to end the session at 5541.9.
The Dow ended the week up by 2.3% to close at 24831. The Nasdaq composite index was up by 2.7% over the course of the week at 7402.9.
The Nikkei 225 ended the week’s trading up by 1.3% to end the session at 22758.
On the commodities market, the price for Brent crude ended at $77.12 per barrel, a rise of 3% over the course of the week’s trading. The value of gold rose last week closing at $1319 per ounce, a rise of 0.63% on the week.
Bitcoin price analysis: BTC/USD settles above $8,600; Wall Street slowly adopting crypto reality
Bitcoin catapulted to $8,717 on Monday, to trade at $8,670 at the time of writing. The digital currency No.1 has been volatile lately influenced by a variety of factors from Mt.Gox selling Bitcoins rumors to the launch of NASDAQ-powered crypto exchange.
Obviously, that positive momentum was triggered by the news that NASDAQ is opening centralized cryptocurrency exchange next month, making Wall Street one more step closer to full adoption of new crypto reality.
This is a very welcoming news for cryptocurrency enthusiasts, which has a potential to create enough momentum to take the coin above $9,000 and stimulate an extended recovery.