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UFXWeekly Forex Currency Trading News 10-September-2017

By on June 30, 2020 0 46 Views
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The EUR/USD rose by 0.11%, closing the week at $1.2036.

The GBP/USD increased by 0.76%, closing at a £1.3200 exchange rate.

Equifax Inc., one of the 3 largest American credit agencies in the United States, was the victim of a major security hack last week. Private data including Social Security numbers, addresses, driver’s license data, and birth dates of at least 143 million Americans and Canadians have been stolen by hackers. Equifax could be facing as much as $70 billion in claims over this data breach.

Gold rose by 0.07% as of last week’s market close, closing at $1,351.20. Crude Oil dropped by a massive -3.28%, closing at $47.48 a barrel.

Last week’s Hurricane Harvey slammed into Houston, Texas over a 4-day period, causing massive flooding and several deaths. The economic recovery won’t be known for some time yet, though financial analysts are predicting it to be the 2nd most expensive natural disaster in US history. Texas’ oil and gas supplies are the most affected, which is resulting in high petrol prices. Economic experts also believe that rebuilding the affected areas will cause a boost to the local economy.

The DOW Jones ended the week up by 0.06%, closing at a value of 21,797.79. The S&P 500 fell by -0.15%, closing at a value of 2,461.43. And lastly, the NASDAQ decreased by -0.59%, ending the week at a value point of 6,360.19.

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