IronFX Daily Commentary by Charalambos Pissouros | 24/03/2017
March 24, 2017 10:14 am
US health care vote postponed to today; Trump raises the stakes • Republicans decided to postpone the vote for today, as they lacked the support needed. • But Trump stepped in. He said that if he loses the vote today, he is prepared to leave Obamacare in place and move on to tax reform. • This supported USD a bit during the Asian morning Friday, as investors are eager to see his highly-anticipated tax plan. • In case the House votes in favour of the bill, USD and US equities could gain, as it becomes easier for Trump to deliver on taxes too. • In case it is voted down, it could prove negative for the dollar and US stocks, on speculation that it will be harder to keep his tax promises.
As for the rest of today’s highlights: • France, Germany & Eurozone: Prel. manuf. & services PMIs for Mar. • US: Durable goods orders for Feb. are exp. to have risen, which could prove USD-positive. • Canada: CPI data for Feb. Headline rate exp. unchanged, no forecast for core. We see the case for an uptick in the core rate, which could support CAD. • Speakers: New York Fed President William Dudley and St. Louis Fed President James Bullard.
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US health care vote postponed to today; Trump raises the stakes
• Republicans decided to postpone the vote for today, as they lacked the support needed.
• But Trump stepped in. He said that if he loses the vote today, he is prepared to leave Obamacare in place and move on to tax reform.
• This supported USD a bit during the Asian morning Friday, as investors are eager to see his highly-anticipated tax plan.
• In case the House votes in favour of the bill, USD and US equities could gain, as it becomes easier for Trump to deliver on taxes too.
• In case it is voted down, it could prove negative for the dollar and US stocks, on speculation that it will be harder to keep his tax promises.
As for the rest of today’s highlights:
• France, Germany & Eurozone: Prel. manuf. & services PMIs for Mar.
• US: Durable goods orders for Feb. are exp. to have risen, which could prove USD-positive.
• Canada: CPI data for Feb. Headline rate exp. unchanged, no forecast for core. We see the case for an uptick in the core rate, which could support CAD.
• Speakers: New York Fed President William Dudley and St. Louis Fed President James Bullard.
Join us for more technical and fundamental analysis: http://www.ironfx.com
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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