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Daily Briefing – Monday, December 18, 2017

Europe

The European Central Bank has raised its growth and inflation forecasts on Friday but interest rates were kept on hold. The trade surplus fell to a three month low of €18.9B. The EUR closed down 0.20% against the USD. Keep an eye on the CPI due out today.

 

US

It appears that the US senate will vote on new tax laws this week. USD traders, don’t miss out on volatility in this front. Additionally the NAHB Housing Market Index today together with the Housing Starts tomorrow, promise to give more indicators as to the direction of the US economy.

 

 

Asia/Oceania

The US tax law reform also affects the Asia currency markets with the greenback steady against most currencies. The AUD and NZD both have risen against the USD. The AUD by 0.21 percent and the NZD by 0.37 percent. How will the New Zealand Consumer Confidence move the kiwi tonight?

 

 

Commodities

Gold, the traditional safe haven asset’ has been the primary victim of the cryptocurrency frenzy, with investors favoring bitcoin and other digital currencies. Could it be that investors with an eye for a longer term investment might grab the chance and ‘stock-up’ on the precious yellow metal?

 

Shares

Shares in Asia have been rising today boosted by expectations that the senate will ratify the much awaited tax reform bill this week. Japan’s NIKKEI 225 is up 1.55 percent, the Sydney S&P/ASX 200 rose by 0.7 percent and the Hang Seng by 0.98 percent. Will the trend continue?

 

Today’s Events

10:00 GMT EUR: Consumer Price Index
15:00 GMT USD: NAHB Housing Market Index
00:00 GMT +1 NZD: Business Confidence

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