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%.