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Investors Buoyed By Trump Tax Promise

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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 Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

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