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US Open Preview– Dollar weaker ahead of JOLT’s job openings; stocks hold strong
December 11, 2017 12:26 pmVideo
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Here are the latest developments in global markets:
Day ahead: JOLTs Job Openings awaited; Fed & US tax deliberation in focus
With the economic calendar lacking major releases, JOLTs Job Openings out of the US will gather some attention at 1300GMT. The survey conducted by the Bureau of Labor Statistics will likely show that the number of positions opened in November will not deviate far away from record highs, inching down by 3,000 to 6,090 million.
However, any potential updates on the progress of the tax legislation as well as any news on monetary policy will likely bring bigger volatility to the markets. Recall that the Fed will kick its last two-day meeting of 2017 on Tuesday with the decision on interest rates being only available on late Wednesday. Although investors are widely expecting policymakers to raise rates by 0.25 percentage points to 1.25%, the monetary statement following the decision will be under the spotlight for any clues on the path of future rate hikes as the central bank recently hinted further tightening next year.
The European Central bank, the Bank of England and the Swiss National Bank will also decide on interest rates on Thursday but no changes on monetary policy are expected to be announced.
In the fiscal front, the US President, Donald Trump will deliver a closing argument on tax cuts on Wednesday as Senate and House Republicans are currently debating to create a common outline that will be signed by Trump as soon as the year-end.
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