Donald and his Tax Plans

Daily Update - 26th Apr 2017

Yesterday’s Market

• GBP Public Sector Net Borrowing
• USD Consumer Confidence, New Home Sales, Housing Price Index & S&P/Case-Shiller Home Price Indices

Yesterday Explained

The Euro extended its rebound versus the American dollar on Tuesday, after the US dollar took the back seat across the board amid risk-on trades and doubts whether the Trump administration will actually provide details on the tax reform plans on Wednesday.

Also, expectations of some hawkish hints from the ECB, with markets widely anticipating the central bank to resort to taper talks, adds to the recent bullish tone seen behind Euro.

UK public sector net borrowing came out negative but it did not stall Pounds upward trend. All data including US housing and consumer data came out positive for USD but those could not provide much support to softening USD.

Today’s Market

• AUD Consumer Price Index
• USD US President Donald Trump's Speech on Tax Plans

Today’s Focus

Nothing of relevant economic reports are scheduled in day ahead apart from Consumer Price index from Australia. Major highlight of the day will be US President Donald Trump’s Speech where he is expected to announce his tax reform plans which will be monitored closely by markets.