The US Senate passed the tax reform bill which is expected to provide fiscal stimulus by boosting US economic growth and inflation. The result has seen strength in the US$, increase in yields and rise in bank stocks. Aussie Dollar has firmed on a higher iron ore price and better than expected retail sales data for Oct that rose 0.5% (vs fc +0.3%). Market awaits Australia's Q3 GDP release tomorrow at 11.30am AEST (forecast is +0.8%).
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