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Dollar Higher on Tax Reform Hopes

US tax reform clears first hurdle The USD is firmer against major pairs after overcoming setbacks earlier in the week. Economic indicators have been scarce with political developments driving the currency. US President Donald Trump is closer to announcing his pick for leadership of the U.S. Federal Reserve and the US senate voted to pass the budget proposal clearing the way for tax reforms. The ...

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The NZD Slides Sharply into the Weekend

Selling of the New Zealand dollar accelerated, knocking another 1 per cent off the currency’s value as investors repositioned to the nation’s political shift. “Both Labour and NZ First are looking to revamp the Central Bank by appointing outside director while moving away from the single decision-maker model,” said OANDA’s Stephen Innes, adding that “spooked” investors. “The profundity of this political...

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Another Day, Another Referendum. Next Up, Italy

Two of Italy’s wealthiest regions are poised to hold a referendum on greater autonomy Sunday, marking the latest bids by European regions to wrestle more power away from the establishment.Lombardy and Veneto, two northern regions home to about a quarter of Italy’s population, are pushing for more control over their finances and administrations.Milan and Venice, the respective capitals ...

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UK and EU Not Even Half Way There on Brexit Bill

French President Emmanuel Macron said on Friday that work on settling Britain’s financial obligations to the EU when it leaves was not even halfway done.He said more than half the work remained to be completed on the crucial issue of Britain’s exit bill and that discussions could not move to the next phase on the future relationship until the three divorce issues of citizens’ rights, the Irish border and financial settlement have been settled.“A...

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The Little Market that Could

Picture Credit: Roadsidepictures from The Little Engine That Could By Watty Piper, Illustrated By George & Doris Hauman | That said, for every one that COULD, at least two COULDN’T======================================So what do you think of the market?  Why are both actual and implied volatility so low?  Why are the moves so small, but predominantly up?  Is this the closest impression of the ...

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A word of caution about today’s Dollar Bounce

By Kenan Machado . WSJ Hong Kong Oct. 20, 2017 12:27 a.m. ET Some analysts urged caution about Friday’s dollar gains. Peter Chia Siong, a forex strategist at broker UOB Kay Hian in Singapore, said the dollar’s near-term direction “hinges not only on the tax reforms” but who Mr. Trump will tap to lead the Federal Reserve for the coming four years. News reports that he is leaning toward Fed Gov. Jerome Powell weighed on...

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Gold Tumbles in Asia as U.S. Senate Rallies the Dollar

Gold tumbles as the U.S. Senate causes yields and the dollar to rise across the board. Gold has fallen 0.50% or some six dollars from its close in New York as Asia erases almost all of the gains it made yesterday. Gold is wilting as the U.S. dollar surges in Asia after the U.S. Senate adopted an FY18 budget resolution. It has seen Treasury yields edge higher pushing the ...

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