The EUR/USD pair ended the week at a low of 0.32%, closing at 1.2029. The GBP/USD pair rose by 0.15%, ending the week at a 1.3571 exchange rate. The eurozone economy ended 2017 with its strongest growth in nearly seven years. The IHS (Markit’s Final Composite Purchasing Managers’ Index), which measures the overall growth of the EU zone, rose to its highest value since February 2011. The EU achieved this solid performance by increasing services and manufacturing activities across all major European economies. The Purchasing Managers’ Index rose to its highest point in more than six years. According to survey data, this allowed the PMI to climb to its highest record in more than two decades. Gold had a slight increase of 0.05%, as of last week’s market close, closing at $1,322.30 an ounce. Crude Oil fell by 0.57%, closing at $61.44 a barrel.
Ripple, one of the newer cryptocurrencies, rose an incredible 36,000% at the end of 2017. Ripple has raised tens of millions of dollars worth of investment, leading to it being legitimized by banks around the world. This impressive growth sparked rumors that the coin would be added to the Coinbase, a digital currency exchange, headquartered in San Fransisco. The Dow Jones ended the week with an increase of 0.88%, closing at a value of 25,295.87. The S&P 500 rose by 0.70%, closing at a value of 2,743.15. And lastly, the NASDAQ rose by 0.83%, ending the week at a value point of 7,136.56.
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