(USD) Pending Home Sales m/m -2.6 % vs -0.5 % expected
(USD) Crude Oil Inventories -1.8 M vs 2.9 M expected
Trump proposes U.S. tax overhaul, stirs concerns on deficit- RTRS
Asian equities were mixed early on Thursday as investors began to assess the implications of the much-anticipated tax proposal. The dollar and U.S. bond yields rose after President Donald Trump proposed the biggest U.S. tax overhaul in three decades and as strong U.S. economic data added to the case for a rate hike by the Federal Reserve later this year.
USDJPY is currently seen trading around 113.07, the pair was seen ranging within a 20 pip range for most of the session earlier today with little to drive it. Japanese parliament was officially dissolved today to bring on the October 22 election. Overall the Yen continues to drop against the USD, down 0.2 percent on Thursday, continuing its 0.5 percent fall on Wednesday.
EURUSD continued to decline for the third straight day after hitting a six-week low of $1.1717 on Wednesday and is currently seen trading around 1.1733 as there were some signs of further USD strength. The dollar index, which tracks the dollar against a basket of currencies rose 0.2 percent and is currently valued at 93.57 touching the highest in a month.
AUDUSD is currently seen trading at 0.7818, as the Aussie further declined 0.4 percent against the US Dollar. Likewise, the NZDUSD is seen trading at 0.7192 as the Kiwi lost 0.2 percent against the US Dollar. The kiwi fluctuated as the Reserve Bank of New Zealand signaled it will keep rates on hold for some time on a weaker economic growth outlook and slowing inflation.