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Market Buzz- 20th October 2017
20 Oct 2017
- Dollar Gains, Treasuries Fall on U.S. Tax Hopes: Markets Wrap N.Z. dollar extends slide after Labour Party forms government.
- Yen declines as all eyes turn to Sunday’s Japan election.
- The dollar climbed as Treasuries fell after the latest developments in Washington buoyed optimism about the chances for American tax cuts.
- Stocks in Asia halted a rally after global equities reached records during the week.
- The U.S. Senate adopted a fiscal 2018 budget resolution on Thursday that House GOP leaders agreed to accept, indicating impetus to accelerate President Donald Trump’s plan to deliver tax cuts.
- Japan’s equity benchmarks pared losses as U.S. equity-index futures climbed and the yen declined, unwinding gains from the previous day.
- New Zealand’s election result pummelled the kiwi dollar as investors said the outlook for economic growth had deteriorated.
- Gold headed for its fifth weekly drop in six as safe havens lost favour with investors.