Morning Update – 13/12/2017 – by Arjun Lakhanpal

Morning all.. Wall St had another record close with the S&P closing up 0.15% but the NASDAQ ended lower on the day and stocks in Asia drifted lower again with the Nikkei closing down 0.47% but the Shanghai gained 1.38% and 0.85% respectfully. The dollar dropped after a special election for a U.S. Senate seat that saw the Republican majority diminished, while stocks in Asia outside of Japan gained as investors await central bank decisions in Europe and America for clues on the policy path for next year. This will potentially make it harder for President Donald Trump to pass his priorities next year, though it may have little implication for the tax-cut legislation currently being debated in Congress. The Federal Reserve is expected to raise interest rates after its meeting today, and it’s anticipated that the European Central Bank will reveal details of plans to taper asset purchases on Thursday. Comments on the outlook for 2018 will be the focus for investors as they weigh the impact of coming policy normalization on global asset prices. The Australian dollar got a nudge higher after Westpac’s December consumer confidence climbed. This morning we have UK unemployment data and earnings and EU Industrial Production.. Then in the US we will wait for the important CPI data and FOMC statement.. Good luck.