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Showing posts with label tax reform. Show all posts
Showing posts with label tax reform. Show all posts

Wednesday, 20 December 2017

Fluctuating dollar following the announcement of the tax cuts in the US

The dollar appreciated against most currencies on Tuesday, thanks to optimistic data from US building permits, but profits were limited by doubts about the overall impact of the country's main tax revision plan. The Republican Chamber of Deputies approved a large-scale tax bill on Tuesday, then the bill passed through the Senate and was approved. The majority in the US Senate is Republican, and this has made it easier to accept the project.
Green money rose against the yen, and against the euro depreciated after parliament approved the bill.
At the beginning of the session, the dollar appreciated as US housing data reported a 13-month high in November, while data on single-family houses struck a 10-year high. At the end of the session, green money was 0.28% higher against the yen to 112.85 yen. The euro grew slightly against the euro, with the single currency closing the session at 1.18399, which is 0.51% higher than on Monday.


Monday, 18 December 2017

US indices ended in new records

US indices reached new historical records, awaiting the introduction of tax reform next week.
The S&P 500 indice, the Dow Jones Industrial Average and the Nasdaq 100 Stock Index closed at historic records after it became clear that the final tax reforms will be presented late Friday, and a vote for their approval is expected next week.
Russell 2000 Index's Index for Small Businesses saw the ninth consecutive growth for the last 10 sessions, precisely following the expected reforms.
Still, there are some uncertainties about the final version of the tax reforms and whether they will not undergo any changes.
The S&P 500 rose 0.9 percent to a level of 2,675.63 points or the highest closing level in its history. The Nasdaq 100 added 1.2% and Nasdaq Composite added 1.2% to its value.