The following article was written by Tony Chrystopher, Financial Analyst at UFX.com’s Trading Support Center.
Your Weekly Trading Review by UFX.com – Sunday, September 3, 2017
Here are some of the major financial events of the past week and how they affected the global currency and commodity markets:
EUR/USD fell by -0.42%, closing at $1.1860, while the GBP/USD rose by 0.16%, closing at £1.2951.
Gold jumped 0.62% from last week, closing at $1,330.40. Crude Oil went up 0.13%, closing at 47.29 a barrel.
The Dow, S&P 500, and NASDAQ all ended the week up, showing favourable conditions to investors. The Dow rose 0.18%, closing at 21,987.56. The S&P 500 went up 0.20%, closing at 2,476.55, and the NASDAQ was up by 0.10%, ending at 6,435.33.
Google Reorganizes Itself Into Another New Company
On Friday, Google’s parent company, Alphabet, announced a new corporate reorganization. The internet powerhouse is restructuring itself into a new entity known as ‘XXVI Holdings Inc’. According to Co-Founder Larry Page, the intention is to separate each company into its own entity, which will cause easier development and growth for the corporate giant.
France May Be Headed for Employment Reforms
French President Emmanuel Macron is considering a number of potential labour reforms, which some analysts believe could positively affect the French economy. The most talked about potential reform includes combining 3 employee protection measures into 1, making employment contracts more flexible.
That’s our summary of the financial headlines from the past week. Good luck with this week’s trading and stay tuned for our next review.