Single Currency Near 1.16 Level
The single currency remains around the 1.16 level. Euro/Dollar lifted 0.11% to trade at 1.1607. German trade surplus rose to 21.8B euros. The European Union will publish its economic projections. The US will announce unemployment claims. Angela Merkel is looking for some parties to create a coalition with. Currently, the candidates, which are Greens and Liberal Free Democratic Party, present their key demands. The first one wants to exclude fossil fuels and the second demands cutting taxes by 30-40B euros.
Tax reform execution should take place next week. At the end of this week, Senate Republicans will present their version of the bill. It’s projected to differ from the President’s one and Senate Republicans might postpone corporate tax lowering by a year. Some say, both proposals will be accepted. The greenback will very sensible to any relevant developments. Gold prices are higher due to the whole controversy. JOLT Jobs Openings indicated 6.09M. The unemployment rate stays at 4.1%. Inflation is still weak, muting the wage growth.