Asian Markets Under Pressure
The main news of the day so far has been the Chinese export data which came in lower than expected. This led to a fall in the Asian stock markets, which had been expecting some strong numbers from China and this bearish sentiment has since carried over to some of the European stock markets as well, as some of them have been trading under a lot of pressure since the opening today. This could also be due to the fact that the global risks, including those in the US and North Korea, continue to hog the headlines and this could have led to some uncertainty among the investors and traders who would not want to invest big into the stock markets at this point of time.
Confusion Reigns With Tax Reform Bill
The tax reform bill in the US continues to hit the market headlines and refuses to go away. It was initially assumed that it had been passed and that all is well and now we are hearing reports that though the bill has been passed, it could be changed in such a way that it is effective only a year later. This is likely to be a setback for Trump and it is unlikely that he would be supporting such move anytime in the short term. But this kind of risk and uncertainty has led to some pressure on the dollar as well as the US stock markets which have been trading weaker.
This article was originally posted on FX Empire
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