UFX.com Weekly Trading Review – Sunday, October 15, 2017

UFX weekly fx market review

Your Weekly Trading Review by UFX.com – Sunday, October 15th, 2017

Here are some of the major financial events of the past week and how they affected the global financial markets:

EUR/USD fell by -0.08%, closing the week at $1.1820. The GBP/USD rose by +0.17%, closing the week at a £1.3066 exchange rate.

The Dow ended the week on a high of +0.13%, closing at 22,871.72. The S&P 500 also increased by +0.09%, closing at 2,553.17. Finally, the NASDAQ increased by +0.22%, ending the week at 6,605.80.

Austrians Go to Polls

Austrians are at the poll today for a snap national election. The vote has come a year early after disputes led to the breakdown of the coalition government of the Social Democrats and the People’s Party.

Austria’s OVP, led by Sebastian Kurz, is the clear favourite. Kurz, who at 31 has pushed his party to the right of its already center-right stance, and taken up a firm position on the big issue headlining this election: Immigration.

Telsa Fires Hundreds of Employees

Tesla Inc. released hundreds of workers last week, living up to its label as a demanding workplace. It is estimated that between 400 and 700 employees have been fired. Most of the departures were administrators, sales representatives, engineers, managers and factory workers. Telsa has said that the dismissals were a result of a company-wide annual evaluation.

That’s our summary of the financial headlines from the past week. Good luck with this week’s trading and stay tuned for UFX’s next review.

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