Mixed sentiment takes on in Asia

4 December, 2017

Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while keeping an eye on the political agenda and especially, on the Republican-backed tax reform bill.

In Australia, the main four bank stocks were down in early hours, with ANZ easing nearly 0.84 percent, Commonwealth Bank falling 0.51 percent, Westpac taking a 1.3 percent loss and the National Australia Bank trading to the downside 0.47 percent.

<<< Next in Europe >>>

No economic data is due for today’s session. Ahead in the week, attention will be directed to a revision of Eurozone’s third-quarter GDP, as well as November services activity data.

<<< Next in the United States >>>

On Saturday, Republicans in the Senate were able to narrowly pass a bill to revise the US tax system. While this represents a step close to Trump-backed tax cuts, the GOP leadership still needs to find common ground in the House and Senate to work out a joint resolution that eventually will get to the President’s desk for final approval.

Expectations of lower taxes have been supporting US stock markets since President Donald Trump got into the White House earlier this year. The tax reform represents a major campaign promise for Trump and in case it cannot be done, Wall Street could face a 3-to-5 percent drop.

However, Goldman Sachs Group Inc. estimates the tax reform bill will be effectively pass within the next two weeks. According to GS, lower taxes would boost the US economy by 0.3 percent.


Source link  
Positive market sentiment persists

On Tuesday, US markets continued to gain, after a positive start of the trading week on Monday. It is characteristic that on the positive sentiment...

Equity markets continue to decline

The last two trading days are marked by negative market dynamics, as equity indices are under pressure. On Wednesday, Europe was under pressure...

Asian equity indexes mixed

Asian indexes were mixed on Thursday following a soft close in Wall Street following a widely anticipated tax reform approval by Congress...


Euro is firm at current levels

The preliminary estimate of the consumer price index in November rose to 1.5% from 1.4%. The data turned out to be less than expected...

Gold reversed some losses

The softer tone in the US Dollar allowed gold prices to reverse some losses. Buyers broke the upper limit of the selling channel and almost...

Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...


Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...

Gold bounced from its upper limit

We expect the spot to retest 1240 in the short-term. Should sellers succeed they may lead the pair down to 1230. If the level stands the spot...


In the past 24 hours Bitcoin has gained 1.23% and reached $4504.31493423. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.4212% and is now at $1.1374. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -26.91% and is now at $133.80835104. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Forex Market Analysis



Forex Currencies Forecasts



Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM86%
4Alfa-ForexAlfa-Forex85%
5FxProFxPro84%
6FIBO GroupFIBO Group83%
7OctaFXOctaFX82%
8HotForexHotForex80%
9FXCMFXCM78%
10AvaTradeAvaTrade76%
  


Share: