17 May 2017. Daily Market Updates

Good Morning All;
The greenback extended its decline Tuesday after weak April housing starts and building permits added to a string of soft economic data that have left investors questioning if the Fed will stick to its plan for of two additional interest rate hikes this year
White House National Security Adviser H.R. McMaster sought for the second day to contain the damage from a report that President Trump revealed highly classified intelligence to Russian officials
President Donald Trump has proposed rewriting the tax code to raise the standard federal deduction to a level where about 25 million homeowners would no longer take advantage of the mortgage interest tax deduction.
Euro area financial conditions remain highly supportive for the economic recovery and ECB is unfazed by rise in long term yields in Euro area, said Executive Board member Benoit Coeure.
Taiwan seeks stronger Asia ties to overcome reliance on China.
According to the Confederation of British Industry (CBI), U.K. government should set up a business task force to tackle the “labyrinth of complexity” posed by Brexit
Oil extended a decline after industry data showed an unexpected increase in U.S. crude stockpiles, stalling a rally driven by Saudi Arabian and Russian pledges to extend supply cuts. Futures fell as much as 1 percent in New York. Prices sunk 0.4 percent on Tuesday after the American Petroleum Institute was said to report that U.S. crude inventories rose by 882,000 barrels last week.
For the next few quarters, Japan is on course to get modest economic expansion without much in the way of inflation. Gross domestic product data this week is likely to show that the economy has still managed to eke out five straight quarters of expansion.
Hong Kong and Chinese regulators said on Tuesday they had formally approved a long-awaited scheme to connect China’s $9 trillion bond market with overseas investors, another key step in the opening up of China’s capital markets
Bye Bye.

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