FC: ASIAN OPENING REPORT: MONDAY – 23RD – AUGUST – 2017 22, 2017 at 11:35PM

US stocks notched up a second session of gains. Outperforming was material related stocks, bolstered by strong corporate results and higher commodity prices. After Politico reported President Trump’s top aides and congressional leaders have made significant strides in shaping a tax overhaul, renewed hopes of US tax reform also played their part. In fixed, Treasuries ended the session lower. Meanwhile, the US Dollar index closed higher. Oil prices also settled higher at $47.64 (+$0.27) after some choppy price action this afternoon in reaction to events at the Sharara oil field in Libya – most recently, field workers said they are working to gradually reopen the field. Oil prices did however pare gains in post-settlement trade after API data showed draw in US crude inventories in line with expectations. Elsewhere, minutes revealed Federal Reserve banks voted unanimously to leave the discount rate unchanged ahead of the July FOMC meeting.

Looking ahead, we get New Zealand’s budget balance and Japan’s manufacturing PMI.