Morning Update – 07/12/2017 – by Arjun Lakhanpal

Morning all.. US stocks were mixed in a quiet session with the S&P ending around unchanged on the day but we have seen a solid bounce in some Asian markets.. The Nikkei rallied almost 1.5% reversing yesterday’s losses but the Shanghai (China) markets fell over 1%. GBP little moved as a report in the Sun: Supporters of David Davis have launched a bid to replace PM May with the Brexit Secretary by Christmas.. The Australian dollar declined after another disappointing set of economic data. The Australian dollar dropped to the lowest since June after October trade data missed estimates. Weaker-than-expected third-quarter GDP earlier this week reinforced views that the central bank won’t adjust monetary policy any time soon, sending the Aussie lower. Global markets have succumbed to a bout of profit taking this week with eight days of losses for Asian equities culminating Wednesday in the biggest slide since last December for the region’s stocks index. Technology stocks, this year’s biggest winners, have posted the largest declines along with emerging-market shares, also standout winners in 2017. USDCAD fell as the Bank of Canada kept borrowing costs on hold at its last interest-rate decision of 2017 and reiterated it will be “cautious” with future moves. The U.S. faces a partial government shutdown after money runs out on Dec. 8 if Congress can’t agree on a spending bill by then. This morning we have the UK Halifax House Price Index and EU GDP for Q3 (final look).. Good luck.