Fundamental analytics

European equity indices began a week with steady growth as the market played out news on progress with regard to tax reform.

Asian equity indexes were mixed on Tuesday, following Australia's central bank decision to keep interest rates steady, meeting analysts’ expectations.

US indices opened positively on Monday after the US Senate passed its version of the tax revision bill, bringing to reality the promise of President Donald Trump to cut corporate taxes to stimulate economic growth in the US economy.

European currency gains marked the past trading week.

Asia markets were mixed on Monday, following a strong lead from Wall Street last week as market players looked ahead to fresh economic data, while keeping an eye on the political agenda and especially, on the Republican-backed tax reform bill.

The dollar is falling against the euro and the pound continues to strengthen against the Japanese yen, setting a maximum in the last ten days.

Relying on rumors, bulls tried to drag the GBP / USD higher. Over the past three weeks, the price has already gained by more than 400 points and this potential is apparently not yet exhausted.

Yesterday  positive statistical data from the EU allowed to revert the pair EUR / USD higher. The data showed a decline in the unemployment rate in the EU to 8.8%, and an increase in the  inflation rate to 1.5%. 

Today in the first half of the European session, USD dollar traded somewhat stronger. Yesterday's sharp increase in yields on US bonds led to a significant USD dollar gain against the Japanese yen.

Yesterday at the Asian and European trading session the news agenda was rather light, as markets were under the influence of previous news drivers and continued to play out the patterns of past days.