Daily Update - 6th December 2017
The Euro declined against the Dollar yesterday on optimism of the US Tax Reform bill which is due to be announced by this week or next latest. But as observed previous weeks as well this upward trend was only a short term growth and it was cut back once the US Markets opened and their reports showed significant stagnancy over the past months in terms of Economic Data. Pound had a roller coaster day with Brexit Negotiations. UK Brexit Minister Davis said; 'progress has been made in talks with the EU; all parties remain confident of a positive conclusion by the end of the week.' In other news, Reuters reported the Northern Irish party which props up Prime Minister Theresa May said on Tuesday it would not accept any Brexit deal that saw Northern Ireland diverging either economically or politically from the United Kingdom. Today will be an important day since Euro zone will have its Non-Monetary Policy’s Meeting Minutes and they will give us an insight in to how the current Economic conditions of European Zone and it future projections of the Year Ahead. This will be followed by Bank of Canada releasing its Interest Rate Decisions and its Rate Statement for this quarter.Yesterday's Market
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