{"id":118431,"date":"2017-12-20T06:40:31","date_gmt":"2017-12-20T11:40:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=118431"},"modified":"2018-06-01T15:48:21","modified_gmt":"2018-06-01T15:48:21","slug":"house-to-vote-on-tax-bill","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/house-to-vote-on-tax-bill\/","title":{"rendered":"House to vote on tax bill"},"content":{"rendered":"
December 20, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stocks pull back<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>pulled back on Tuesday as the House of Representatives passed the tax bill. The dollar weakened further despite rising housing starts: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.3% to 93.483. The\u00a0S&P 500\u00a0<\/em>lost 0.3% to 2681.47 led by real estate and utility shares.\u00a0Dow Jones\u00a0<\/em>industrial average slipped 0.2% to 24754.75. The\u00a0Nasdaq\u00a0<\/a>composite index fell 0.4% to 6963.85.<\/p>\n

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Equities pulled back after Monday rally to record highs on hopes the tax bill will be approved before the year end. House Republicans will vote on the tax bill a second time today after its passage Tuesday as legislators found that three provisions in the approved tax bill break a rule which restricts what can be included in budget legislation. The positive economic news was shrugged off by markets: November housing starts rose to a seasonally adjusted annual rate of 1.297 million compared to 1.29 million in October. However building permits fell 1.4% to a 1.298 million rate. And US current account deficit fell 19% to $100.6 billion in third quarter.<\/p>\n<\/div>\n<\/div>\n

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European stocks fall as German sentiment slips<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>retraced lower on Tuesday weighed by declining German business sentiment. Both the\u00a0euro\u00a0<\/em>andBritish Pound\u00a0<\/em>extended gains against the dollar. The Stoxx Europe 600 lost 0.4%. Both the German\u00a0DAX 30\u00a0<\/a>and France\u2019sCAC 40<\/em>\u00a0dropped 0.7%. However UK\u2019s\u00a0FTSE 100\u00a0<\/em>gained 0.1% to 7554.09. Markets opened mixed today.<\/p>\n

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Negative economic data undermined investors confidence: the Ifo business climate index, a leading indicator for economic activity in Europe\u2019s largest economy, dropped to 117.2 in December, down from 117.6 in November.<\/p>\n<\/div>\n<\/div>\n

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Asian markets mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>rose 0.1% to 22891.72 as yen fell against the dollar. Chinese stocks are lower: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.3% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 0.2% lower. Australia\u2019s All Ordinaries Index rose 0.1% with Australian dollar steady against the greenback.<\/p>\n

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Oil higher on expected US crude draw<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are edging higher today on expected US crude inventory drawdown. The American Petroleum Institute industry group reported late Tuesday US crude stocks fell by 5.2 million barrels to 438.7 million. Prices rose yesterday supported by North Sea pipeline outage: February Brent rose 0.6% to $63.80 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

\"Brent\"<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks pull back US stock market\u00a0pulled back on Tuesday as the House of Representatives passed the tax bill. The dollar weakened further despite rising housing starts: the\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.3% to 93.483. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-118431","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=118431"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118431\/revisions"}],"predecessor-version":[{"id":118441,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118431\/revisions\/118441"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}