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Your Weekly Trading Review by UFX.com – Sunday, October 8th, 2017
Here are some of the major financial events of the past week and how they affected the global financial markets:
EUR/USD rose by 0.16%, closing the week at $1.1730. The GBP/USD fell by -0.15%, closing the week at a £1.3066 exchange rate.
The Dow ended the week down by -0.01%, closing at 22,773.67. The S&P 500 fell by 0.11%, closing at 2,549.33. Finally, the NASDAQ increased by 0.07%, ending the week at 6,590.18.
Big Companies Plan Exit Amidst Catalonia Crisis
Catalonia’s bid for independence has caused major friction with Spain. If the leaders of Spain’s Catalonia region declare independence in the coming days, European markets could likely take a major hit. Spanish drug maker Oryzon Genomics has announced that it’s moving out of Catalonia. CaixaBank plans to relocate its legal base south to Valencia. Others are expected to follow as well.
May Plans Cabinet Overhaul to Reassert Her Authority
In a recent interview, UK Prime Minister May detailed her dissatisfaction with Boris Johnson for shaping his own path on Brexit. The Prime Minister told Sunday Times she wants the ‘best people’ in her cabinet and will take action to ensure this.
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.