Market Headlines – 27/10/2017

US

  • US. stocks edged higher amid robust earnings from Twitter to United Parcel Service, speculation about the Federal Reserve’s next leader and congressional action on taxes.
  • In currency news, the dollar climbed to a three-month high after the U.S. House passed a budget resolution on tax reforms and as speculation mounted a hawkish candidate may lead the Federal Reserve.

 

Europe

  • European stocks gained rising 1.3% after ECB President Mario Draghi pledged to maintain near-zero rates for as long as necessary.
  • The euro headed for its biggest weekly drop since March after the European Central Bank announced it will be buying bonds for a longer time, even as it plans to halve monthly purchases.

 

Asia

  • Asian equities rose overnight following positive corporate results from China to Japan. Chinese equities edged slightly higher rising just 0.1% while Japanese equities advanced 1.2%.

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