Market News

Relatively quiet overnight session once again with the market keeping the powder dry for tomorrow’s U.S. CPI data and the FOMC rate announcement. A rate hike is virtually a given so the action is likely to occur if inflation data is strong as the market is looking to price in 2018 hikes on a firmer

The US$ ends the overnight session on a weaker tone on concerns over the Tax Reform Bill because the Senate’s tax bill preserves Alternative Minimum Tax which effectively prevents companies from taking advantage of other tax breaks, especially in the high-tech sector. At this point it’s unclear what effect the oversight will have on the