The euro (FXE) closed the week ended November 21, 2017, at 1.193, appreciating 1.14% against the US dollar (UUP).
The US Dollar Index (UUP) had another bad week as traders offloaded long dollar positions amid tax reform uncertainty last week.
For the week ended November 24, 2017, the S&P 500 Index (SPY) closed at 2,602.42, rising 0.91% for the week.
The ascent of the global markets continued last week, with indexes continuing to scale new heights.
The FOMC’s November meeting minutes deemed the bond market’s yield curve to be flattening between meetings. The report indicated that bond yields have risen since the September FOMC meeting for multiple reasons.
As per economic projections prepared by the FOMC, US real GDP is expected to improve in the final quarter of this year.
The FOMC staff review indicated that domestic financial asset prices between meetings reacted to lower accommodation from the US Federal Reserve.
At the November meeting, the FOMC staff review indicated that US labor market conditions continued to strengthen and that the US economy continued to expand at a solid pace.
The last Federal Open Market Committee (or FOMC) meeting took place on October 31–November 1. The target range for the federal funds rate stayed unchanged at 1%–1.25%.
The October Industrial Production report was released by the Fed on November 16 and showed a continued rebound in key sectors of the US economy.
Japanese equity markets (EWJ) broke their nine-week gaining streak with the Nikkei 225 (JPXN) posting a weekly loss of 1.3% for the week ending November 17.
The British pound (FXB) appreciated by 0.17% against the US dollar (UUP) for the week ending November 17.
The euro-dollar (FXE) closed the week ending November 17 at 1.2, appreciating by 1.1% against the US dollar (UUP).
The US Dollar Index (UUP) continued to struggle as the fate of US tax reform remains uncertain.
For the week ending November 17, the S&P 500 Index (SPY) closed at 2,578, depreciating by 0.13% for the week.
US markets were dragged lower by global slowdown concerns and lower energy prices last week. The S&P 500 Index (SPY) fell 0.13% in the week ending November 17.
The founder of bitcoin, in his first paper on cryptocurrencies and in his blog posts, compared bitcoin with digital gold as well as with cash.
Bitcoin has been rallying for the past year, with some proponents advocating that it could replace fiat currencies in the future.
The most important concern that governments have about cryptocurrencies is anonymity.
If you have purchased bitcoin currency, and it’s now in your digital wallet, there will likely be a time that you’ll want to conduct a transaction with it.