By - Jamel Lahiani
Last week, the markets are affected by two major’s events that still have impacts for the following weeks. The first is concerning the British Pound that was hit by data showing Britain’s economy experienced a shock contraction in the second quarter in a severe hangover from a pre-Brexit stockpiling boost. The Prime Minister Boris Johnson is oriented to leave the EU in October with or without a departure agreement. For the second effect it is concerned the the US and China war. The President Donald Trump said on Friday the US and China were pursuing trade talks but he was not ready to make a deal, fanning fears over the impact of the trade war on the global economy. The foreign equities were strongly affected by these events.
All indexes have a negative variation last week except Nikkei 225. The DAX30 and CAC40 indexes record the highest negative %variation respectively -1.28 and -1.11. Dow Jones (US) decreased slowly by -0.34%. The decline for indexes appears to be continually following renewed jitters over the US-China trade war.
Last week, Oil- West Texas crude price have the most positive variation by respectively: 3.73%. In the other side, Zinc and Nickel decreased by respectively: -3.13% and -2.09%.
Last week, the US dollar price was losing face to the Euro with a percent variation of 0.8.in the other side the British Pound loose face to the US dollar price. The British Pound was hit by data showing Britain’s economy experienced a shock contraction in the second quarter in a severe hangover from a pre-Brexit stockpiling boost. The Prime Minister Boris Johnson is oriented to leave the EU in October with or without a departure agreement. The south African ZAR have realized a decline face to the US dollar price with a very important variation of 3.25%. The Nigerien NAIRA decreased slowly face to the US dollars by 0.56%.
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