Published On: Wed, Apr 26th, 2017

Midday market review


Today the USD is growing, as the investors are waiting for the announcement of the details of the tax reformation by Donald Trump. He is expected to suggest lowering the income tax for enterprises to 15% instead of 35%, and also to lower corporate foreign returned capital tax from 35% to 10%. At the moment the EUR/USD pair reached the level of 1.0880. The GBP/USD pair continues to trade within the range of 1.2850-1.2770, in which it got after the Early Parliament Elections announcement in the UK. Today the pair dynamics is mixed, in the morning it lowered to the level of 1.2805, but later grew to 1.2830. The GBP is affected by all of the new information concerning the Brexit negotiations. Today it is supported by the Ministry of the UK leaving the EU David Davis commentaries, who hopes that the negotiations will be fast and effective and help to maintain the markets for the Britain business. The Asian sector is also waiting for the details of the USA tax reformation. The USD/JPY pair is testing the level of 111.50, the AUD/USD pair lowered to 0.7475.

The metals market is calm, still the metal prices are slightly lowering. Gold is trading around 1261.00, silver— around 17.45. The oil prices are corrected after the yesterday growth as a result of the USA API Weekly Crude Oil Stock index growth by 897K barrel. Now Brent is trading around 51.90, WTI — around 49.00. The market is waiting for the EIA Crude Oil Stocks change publication today.

The stock markets are trading within the narrow ranges, waiting for the USA tax reformation details. FTSE100 – 7283.7-7260.0, CAC40 – 5289.0-5267.0, DAX – 12489.0-12437.0, DOW – 21056.0-20985.0, S&P 500 – 2388.0-2383.0. Today the list of the USA companies will publish the financial reports. The largest of them are Boeing, United Technologies, Twitter, Pepsico, Hershey, Amgen.

Forex Analysis

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