USD Growth Capped in Asian Trade

Yesterday, the Senate Budget Committee in the US voted to advance the Republican tax bill. This time, the tax bill was approved by the committee without Trump;s involvement. Donald Trump argued with Democratic Congressional leaders and tweeted that he failed to reach a deal with them on funding the government. However, in the Asian trade, investors preferred to neglect the incident, thus pushing the US dollar index up above 93.00. Obviously, market participants are pleased after a Republican tax proposal moved a step closer to a full Senate vote. Meanwhile, the bullish sentiment was waning in the Asian session. The USD/JPY pair bounced marginally to 111.60 and afterwards made a downward correction.

Mass media reported that North Korea fired another ballistic missile at night. Traders are in no hurry to shift focus to safe haven assets, but the USD/JPY pair is likely to trade with muted gains. Japan released a report on retail sales for October. On a yearly basis, retail sales sank 0.2% in line with the forecast. The economic calendar reminds traders of moving events in the second half of the global trading day. The US will present flash GDP data for the third quarter. Janet Yellen will testify before the congressional Joint Economic Committee. Mark Carney is also due to speak today. These and other factors could bring changes to the currency market.

Feed enhanced by Better Feed from Ozh

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.

Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.