Global Themes

Tax cuts near

The USD climbed from two-week lows on Friday in a sign that the recent fall in the US dollar might be nearing an end.

The US dollar staged a strong comeback on Friday after key US senators said they would support the next stage of President Trump’s tax cut package.

The tax cuts could be approved as soon as this week.

Euro nears one-month lows

Friday saw the HKD stronger with the local currencies bouncing from two-week lows versus the RMB.

The USD continued higher in early morning trade.

With the USD higher, most key markets fell.

The euro neared one-month lows versus the HKD while the Japanese yen fell from two-week highs against the HKD.

US GDP risk

The last full trading week of the year will see a number of key releases with the US remaining in focus.

US GDP is due on Thursday night while personal consumption and expenditure figures, a key reading of price pressures, will be released on Friday night.

Tonight, Eurozone inflation figures are due at 6.00pm.

A stronger number could see the euro higher overnight.

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