CGM Weekly FX Video Update – 5th December 2017

 

The US Senate passed the tax reform bill which is expected to provide fiscal stimulus by boosting US economic growth and inflation. The result has seen strength in the US$, increase in yields and rise in bank stocks. Aussie Dollar has firmed on a higher iron ore price and better than expected retail sales data for Oct that rose 0.5% (vs fc +0.3%). Market awaits Australia’s Q3 GDP release tomorrow at 11.30am AEST (forecast is +0.8%). 

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