China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Stock Futures Dip as Investors Await Key Payrolls Data 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Gold Surges Past $4400 on Crude Oil Rally; Bullish Trend Dominates 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Add as a preferred source on Google
The US Congress finally passed the tax reform bill, which provides significant tax cuts including a reduction in the headline corporate tax rate to 21% from 35%. President Trump will now sign it into law, although reports suggest he may do so in the New Year. Asian equities were mixed overnight, with news of the US tax overhaul seemingly already priced in.
Buy NDX Call 6-month 102.5% keeping contingent on EURUSD above 1.235 for 0.85% – 77% discount to vanilla (3.7% for a 6-month 45 Delta call) (Spot references: NDX 6472, EURUSD 1.1860).
It is expected that EURUSD to gradually spike and approach the 1.23 level by the mid-year point. Tech would be the sector with the highest exposure to international revenue, so a weaker dollar would be a tailwind.
Moreover, the powerful worldwide tech cycle may not be dead yet and NASDAQ could surprise more on the upside. The historically low level of volatility makes call premia cheap and the negative correlation between NDX and EURUSD dramatically enhances that cheapness. The recent leg down in the index is an interesting entry point into the trade.
