IronFX Daily Commentary by Charalambos Pissouros | 10/02/2017
February 10, 2017 10:09 am
Trump announces he will announce something on taxes • USD and US equities soared yest., after Pres. Trump pledged to announce a “phenomenal” plan on tax reform in the next 2-3 weeks. • He briefly hinted at measures aimed at reducing taxes for businesses, but nothing specific. • As his tax policy is back in the market’s spotlight, USD could gain further in the next few days. • The key risk to this view would be more verbal interventions by Trump to jawbone USD. • Watch out for currency-related comments today, when he meets with Japanese PM Abe.
Today’s highlights: • Norway: CPI for Jan. headline rate is exp. to decline, core rate is exp. to rise slightly. On balance, this could prove NOK-positive. • UK: Industrial production for Dec. is exp. to slow. Reaction in GBP may be somewhat negative. • Canada: Employment data for Jan. Unempl. rate is exp. unchanged, net change in employment to have turned slightly negative. We see upside risks for the net change in empl. If so, CAD-positive. • Speakers: Besides President Trump and PM Abe, ECB G.C. member Jens Weidmann and Executive Board member Yves Mersch.
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Trump announces he will announce something on taxes
• USD and US equities soared yest., after Pres. Trump pledged to announce a “phenomenal” plan on tax reform in the next 2-3 weeks.
• He briefly hinted at measures aimed at reducing taxes for businesses, but nothing specific.
• As his tax policy is back in the market’s spotlight, USD could gain further in the next few days.
• The key risk to this view would be more verbal interventions by Trump to jawbone USD.
• Watch out for currency-related comments today, when he meets with Japanese PM Abe.
Today’s highlights:
• Norway: CPI for Jan. headline rate is exp. to decline, core rate is exp. to rise slightly. On balance, this could prove NOK-positive.
• UK: Industrial production for Dec. is exp. to slow. Reaction in GBP may be somewhat negative.
• Canada: Employment data for Jan. Unempl. rate is exp. unchanged, net change in employment to have turned slightly negative. We see upside risks for the net change in empl. If so, CAD-positive.
• Speakers: Besides President Trump and PM Abe, ECB G.C. member Jens Weidmann and Executive Board member Yves Mersch.
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To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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