UFX Weekly Forex Currency Trading News 02-October-2016



GBP on the up Following Positive Growth Figures Join UFX! https://bit.ly/1OdVfYU The GBP went up for the first time in 3 days on Friday, following positive growth figures from a post Brexit United Kingdom. The GBP/USD rose by 4 pips, closing at an exchange rate of $1.2972. The EUR/USD is also on the up, jumping by 13 pips, ending the week at a 1.1235 exchange rate. The USD/CAD on the other hand, lost 19 pips, dropping down to $1.3127CAD. Oil Closes with Mixed Results Following Historic OPEC Agreement Following OPEC’s agreement to cut oil supplies for the first time in 8 years, barrel prices went on rollercoaster ride earlier last week. On Friday, prices of West Texas Intermediate (WTI) got a 0.86% bump, closing at $48.24 a barrel. Brent Oil however, closed with a 0.37% drop, closing just under the $50 mark at $49.06 a barrel. Price of COMEX Gold dropped by 0.67%, closing at $1,317.10 an ounce. Gold Spot also took a tumble, dropping by 0.34%, ending the week at 1,315.87 an ounce. Following an almost 2 week low earlier last week, all major US indices closed with positive movement on Friday. The DOW closed with a 0.91% value increase, at 18,308.15. The S&P 500 went up by 0.80%, closing at a 2,168.27 value point. Lastly, the NASDAQ rose by 0.81%, ending the trading at a value of 5,312.00

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