Major international developments on both sides of the Atlantic are governing markets this morning after the US Senate passed its biggest tax reform since 1986, the Mueller probe into Trump's Russian links continues and the UK is reported as being close to agreeing the preliminary elements of its divorce process from the EU.

• US tax bill is overall dollar positive
• Brexit progress positive but GBP needs final elements to rally
• Tax reform means net operating profit will increase 20%
• Watch Chinese equities to see if they decline further
• US shale not chasing higher oil  production at any cost
• Gold traders increased bullish bets by 15% ahead of last week's selloff