There are two crucial GDP figures to be released today; UK Q1 GDP initial reading will be released at 09:30 BST, followed by the US Q1 GDP annualized initial reading, Q1 PCE and Q1 core PCE inflation figures (QoQ) at 13:30 BST. This will be the first US GDP figure reported after Trump took office.…
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The outcome of the first-round voting of the French presidential election pushed EUR/USD up, touching the highest level of 1.0950 on April 26 since November 10. EUR/USD has been consolidating since April 24, flirting with the significant psychological level at 1.0900. Today, the European Central Bank (ECB) announce its benchmark rate, marginal lending rate and…
Read moreUS Treasury Secretary Mnuchin announced Trump’s tax reform plan in a press conference yesterday; the biggest tax reform plan since 1986. Trump has proposed slashing corporate tax from the current rate of 35% to 15%; from one of the highest in the world to one of the lowest. In terms of personal income tax, the…
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Last week the US President Trump stated on Twitter that he will “unveil his major tax reform plan on Wednesday, April 26." The recent reported US Q1 corporate earnings have been outperformed, pushing US stocks up. Tuesday evening, the Dow Jones index hit a 6-week high of 21022, and the S & P 500 index…
Read moreLast week the US President Trump stated on Twitter that he will “unveil his major tax reform plan today” Wednesday April 26. Trump intends to dramatically cut corporate tax from the current rate of 35% to 15%, and will likely make tax exemption on US corporate overseas earnings. After the failure of his healthcare bill…
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