Nasdaq Reaches New 15-Year High, Euro Sees Biggest Weekly Rise Against USD for Three Years
March 23, 2015 8:21 am
U.S. stocks rose on Friday, pushing the Nasdaq to a 15-year high and helping the S&P 500 snap a three-week string of losses, following a pullback in the Dollar, upbeat results from Nike and further biotech gains. Meanwhile, Asian shares started the week on a strong note on Monday after a weaker U.S. dollar helped fuel Friday gains on Wall Street. The Dow closed the week at 18,127, the S&P500 at 2,108.
The Euro traded at $1.0811, down about 0.1%, though well above a 12-year trough of $1.0457 logged a week ago, with the Fed’s statement helping it mark its biggest weekly rise against the Greenback in three years. Against the Yen, the Dollar stood at 119.90 Yen, down about 0.1% on the day and well below Friday’s session high of 121.205. Commodity currencies benefited after the Dollar’s rally paused. The Australian Dollar added about 0.4% to 0.7806, well above a six-year nadir of $0.7561 hit on March 11.
Brent was down about 1% at $54.75 a barrel after snapping two straight weeks of losses, and U.S. crude shed 1.6% to $45.85 after marking its first positive week in five.
Within the equity space the continued slide in commodity prices is having a knock on effect to resource stocks. Gold-miner Centamin said its full-year core profit fell 29 percent as the average realised gold price. However these results were better than expected and the stock is trading 17% higher in early trade at 62p per share.
U.S. stocks rose on Friday, pushing the Nasdaq to a 15-year high and helping the S&P 500 snap a three-week string of losses, following a pullback in the Dollar, upbeat results from Nike and further biotech gains. Meanwhile, Asian shares started the week on a strong note on Monday after a weaker U.S. dollar helped fuel Friday gains on Wall Street. The Dow closed the week at 18,127, the S&P500 at 2,108.
The Euro traded at $1.0811, down about 0.1%, though well above a 12-year trough of $1.0457 logged a week ago, with the Fed’s statement helping it mark its biggest weekly rise against the Greenback in three years. Against the Yen, the Dollar stood at 119.90 Yen, down about 0.1% on the day and well below Friday’s session high of 121.205. Commodity currencies benefited after the Dollar’s rally paused. The Australian Dollar added about 0.4% to 0.7806, well above a six-year nadir of $0.7561 hit on March 11.
Brent was down about 1% at $54.75 a barrel after snapping two straight weeks of losses, and U.S. crude shed 1.6% to $45.85 after marking its first positive week in five.
Within the equity space the continued slide in commodity prices is having a knock on effect to resource stocks. Gold-miner Centamin said its full-year core profit fell 29 percent as the average realised gold price. However these results were better than expected and the stock is trading 17% higher in early trade at 62p per share.
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