Morning Markets: Will protectionism trump tax reform?
- EU: EU Harmonised CPI (1059 GMT)
- Asian markets were trading largely up on US confidence the tax bill will be passed
- The US Republicans released their final version of the tax bill on Friday
- Oracle will buy ASX-listed construction software group Aconex in a $A1.6 billion deal
- An underlying cash deficit of $A23.6 billion is now expected in 2017-18 for Australia
- New Zealand consumer confidence dipped in December, the third consecutive decline
- South Africa’s rand fluctuated ahead of the ruling party’s leadership vote
- Bitcoin traded at around $19,000 as futures trading debuted on the CME
- Japan’s Topix index closed up 1.4%, with the Nikkei 225 rising 1.55%.
- Hong Kong’s Hang Seng Index advanced 1%, with Shanghai down 0.2%
- The JPY was treading water, worth 112.69 per USD in late trade.
- EURUSD was trading at around $1.1771
- GBPUSD was at $1.3348 after slumping 0.8% Friday.
From the Floor
ZAR surge. "A Ramaphosa win would be very good news for South Africa," says Hardy
Santa Claus is coming to town. "We are getting ready for a final leg up in equities," says Garnry
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
Asian markets were higher early Monday on Wall Street leads, which reached record highs on expectations the US tax bill will be passed this week, write Saxo's Singapore trading team
A possible one-month Head & Shoulders is forming for EURUSD with key support at 1.1715, writes Max McKegg in this trade view.
The recent surge in industrial metals offset the dip seen in agricultural and energy commodities last week, writes Saxo Bank head of commodity strategy Ole Hansen.
Morning Markets goes out on the TradingFloor platform at 07:00 GMT, Monday to Friday.
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