Tax reform boosts U.S. stock market and steady USD against yen

U.S. stocks rose to the highest highs on Tuesday as financial markets received a boost from rising yields at 2.171% and treasury secretary Mnuchin said that he was "hopeful" that tax reform would be accomplished by the end of 2017. These factors also supported U.S. dollar which is standing tall against yen. I think today U.S. stock market and US dollar may continue their bullish trend by the hope of reforming tax as well as Nikkei may also stand in green zone following Wall Street.
In my opinion, I would suggest to follow the news about the further tensions as North Korea announced that it will develop more weapons to retaliate UN sanctions. I am afraid if North Korea tests another nuclear missiles, it may have an effect on world markets especially if next missiles are stronger than the previous ones.
Today I suggest to focus on average earning index of United Kingdom at 15.30 GMT+7 which may be released higher than 2.3% and may reinforce the pound stronger like CPI yesterday. I also hope that U.S. PPI at 19.30 GMT+7 may give the bullish trend for USD. However, it would be hard to forecast the oil price after U.S. crude oil inventories at 21.30 GMT+7, because we still have to take into consideration the effect from Irma hurricane.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review