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FINANCIAL MARKET REVIEW FOR NOVEMBER 10, 2017 In the last trading session of this week, Asian shares slipped on Friday on uncertainty about U.S. tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives’ version in several key areas, including a delay in the timing of a corporate tax cut. European shares are expected to be little changed, with experts looking at an almost flat opening for Britain's FTSE .FTSE and Germany's DAX .GDAXI. MSCI's broadest index of Asia-Pacific shares outside Japan , Japan's Nikkei .N225 lost 0.8 percent, slipping off Thursday's 21-year high after an almost relentless 16-percent rally in the past two months. But the index had a ninth consecutive week of gains. MSCI’s all-country equity index .MIWD00000PUS posted its first daily loss in more than two weeks on Thursday, ending at 10 days its longest winning streak since 2003. On Wall Street, the S&P 500 .SPX lost 0.38 percent while the NASDAQ Composite dropped 0.58 percent on Thursday. In the currency market, the U.S. dollar also faced the head wind from the worries about the tax reform, with the euro EUR= firming to $1.1644, extending its rebound from $1.1553, its 3 1/2-month low touched on Tuesday. The dollar slipped to 113.32 yen , from Monday's high of 114.735, its highest level since March. The dollar licked its wounds on Friday, on track for weekly losses after it dropped on disappointment with a tax bill put forth by U.S. Senate Republicans that would delay expected corporate tax cuts. The euro was up slightly on the day at $1.1646, 0.3 percent higher for the week and holding well above a 3-1/2month low of $1.1553 plumbed on Tuesday. Sterling inched down 0.1 percent to $1.3141. But was still on track to gain 0.5 percent for the week plagued by political scandals that raised doubts over the Conservative government’s ability to secure a strong deal in Brexit negotiations. Sterling fell for a third consecutive day on Thursday as growing political turbulence surrounding Prime Minister Theresa May’s government sapped institutional investors’ demand for British assets. The pound fell 0.1 percent against the dollar to $1.3104. It is 1.6 percent below last Thursday’s level when the BoE raised interest rates for the first time in more than a decade, and is hovering above a one-month low of $1.3040 hit late Friday. In the commodity market, Oil markets were little changed on Friday, supported by ongoing supply cuts and strong demand which have resulted in a tightening market, although the prospect of rising U.S. output capped prices. Brent crude was at $63.81 per barrel , down 12 cents from its last close but within $1 of a more than two-year high of $64.65 reached earlier this week. U.S. West Texas Intermediate (WTI) crude was at $57.08 per barrel, down 9 cents but also not far from this week’s more than two-year peak of $57.92 a barrel. The high prices were a result of efforts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to tighten the market by withholding supplies, as well as strong demand and rising political tensions. OPEC is due to discuss output policy during a meeting on Nov. 30, and it is expected it will extend cuts beyond the current expiry date in March 2018. View our full economic calendar for a daily roundup of major economic events.