Morning Markets: Tax reform on the ropes?
- IE: GDP (1100 GMT)
- CA: Monthly manufacturing sales (1330 GMT)
- US: Industrial Production and Capacity (1415 GMT)
- Asian markets were mixed following losses in US markets
- The Nikkei led the falls before recovering slightly
- The ASX200 closed 0.2% lower at 5,997 led by banks
- Uncertainty around US tax reform may hit US equities
- Japanese retail investors were seen shifting from currency trading to bitcoin
- Disney buys Fox assets in a $52 billion split of Murdoch's core assets
- Big Japanese manufacturers' business confidence improved for a fifth straight quarter
- The headline index for manufacturers' sentiment stood at plus 25, an 11-year high
- Japan's economy expanded at an annualised 2.5% in Q3
- A South Korean blockchain association will boost transparency in cryptocurrency trading
- The NZD rose against the EUR after Mario Draghi reiterated his commitment to stimulus
- The USD was on the defensive following wrangling over the US tax bill
From the Floor
Oil capped. "End-of-year profit-taking is reining oil prices in despite supply disruptions," says Hansen
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
Whenever US shares take a breather, the ASX wilts and even a rising oil price overnight couldn't resuscitate prices, writes Saxo Capital Markets.
The USD was mixed overnight with the flurry of central bank meetings while the EUR came off as the market was expecting a more hawkish ECB, says Saxo's Singapore trading team.
Morning Markets goes out on the TradingFloor platform at 07:00 GMT, Monday to Friday.
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