Investors Buoyed By Trump Tax Promise

European shares rose to within striking distance of their highest levels in more than a year on Friday while the dollar was buoyant as investors cheered upbeat Chinese trade data and hopes of business-friendly tax cuts in the United States.

President Donald Trump said on Thursday that in coming weeks he would announce something “phenomenal” in terms of tax although he offered no further details.

Renewed speculation that Trump’s economic policies will help boost economic growth and inflation pushed U.S. Treasury yields higher and lifted the dollar.

Reuters

EUR/USD – Euro Unchanged on Mixed French Data, US Consumer Confidence Next

XAU/USD – Gold Dips, Markets Eye Consumer Confidence

MS

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.