Following a mostly higher close in Asia and mostly positive tone in Europe, the U.S.-based futures are pointing to a higher open this morning. Global politics once again takes center stage as the relationship between Turkey and the US take a turn for the worse.
The U.S. domestic politics and policy continues to draw attention as the debate is anticipated to begin in earnest on the now proposed tax reform legislation. A number of economists, political and market analyst have weighed in on the subject primarily as it relates to the impact on the deficit, employment growth, and corporate tax rates.
Domestically in the U.S., it seems that the latest attempt by the Republican Party to replace Obamacare has once again failed, after reports that a third Republican senator decided to not vote for the bill.
With both the domestic and global political climates providing headline risk to traders, the focus continues to be on the current environment as the EUR/USD, GBP/USD and the dollar index (DXY) are experiencing price action this morning.