Your Weekly Trading Review by UFX.com – Sunday, January 14th, 2018
Some of this past week’s leading economic news and events affected the financial markets:
The EUR/USD and GBP/USD increased by 1.41% and 1.40%, respectively. Gold rose by 0.94%, while Crude Oil saw an increase in value of 0.78%.
The 3 major US indices all saw positive ends to the week, pleasing investors across multiple markets. The Dow went up by 0.89%, S&P had an increase of 0.67%, and NASDAQ rose by 0.68%.
US Government Says No to Alibaba’s MoneyGram Offer
The US Government’s financial investment review organization, The Committee on Foreign Investment in the United States, has prohibited the acquisition of MoneyGram International by Alibaba Group. The Government has expressed concern that the private financial information of its citizens could be compromised when accessed by a foreign entity, causing national security issues.
Volkswagen’s $290 Million Settlement
Volkswagen’s emissions test scandal is back in the news after it was announced that the famous German auto manufacturer has agreed to a multi-million-dollar payout. VW will pay $290 million to the close to 15,000 car owners whose vehicles were recalled after the 2015 emissions violations were made public. At the time, the US Environmental Protection Agency claimed that VW knowingly installed software in its cars that deliberately fooled emissions tests.