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Forex News – Trump tax plan fails to lift markets; dollar pulls back (news: 27/04/17)

Today's press

  • The US Treasury Secretary, Steven Mnuchin, yesterday announced the much-anticipated details on one of President Trump’s main election campaign pledges to cut taxes for businesses and individuals. Dubbed by Mnuchin as “one of the biggest tax cuts in history”, the tax plan provided few surprises as much of the details had already been circulating in the media in the prior days.

  • After the ECB left the interest rates as well as the QE program unchanged, President Mario Draghi meets the press. Draghi began with optimism. He emphasized stronger economic growth and said that downside risks have diminished. The ECB fell short of saying they are balanced but did say they are getting closer. This sent EUR/USD to a high of 1.0932.

  • U.S. President Donald Trump told the leaders of Canada and Mexico on Wednesday that he will not terminate the NAFTA treaty at this stage, but will move quickly to begin renegotiating it with them, a White House said.

  • The dollar gained against the euro on Thursday after the European Central Bank left interest rates unchanged, while Sweden's crown fell sharply after its central bank fed yet more money into its economy.

Next trading day's important events

Forex quotes:

  • USDJPY: 111.47
  • EURUSD: 1.0860

Indices:

  • S&P 500: 2389.06
  • NASDAQ: 6045.24

 



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