The dollar rose while U.S. stocks fluctuated within striking distance of all-time highs as investors assessed reported aspects of the Trump administration’s tax cut plan that could breathe new life into flagging reflation trades.
The second half of this week’s calendar picks up considerably as we get rate decisions from the Bank of Japan on Thursday morning in Tokyo, followed by a European Central Bank meeting that kicks off a bit later in the day. Both Central Banks are dealing with similar issues right now, albeit on far different time-lines, as investors are looking for any clues that they might be able to gleam in the effort of finding out when each Central Bank is going to start to slow-down the massive monetary purchases that have driven each bank’s monetary policy for the past few years.
HONG KONG (Reuters) - Asian stocks extended gains for a fifth consecutive day on Wednesday, as renewed optimism about the world’s biggest economy brightened the outlook for risky assets while the euro held on to previous gains as political concerns in France ebbed.
Next trading day's important events
- USDJPY: 111.44
- EURUSD: 1.0892
- S&P 500: 2391.60
- NASDAQ: 6025.32