• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 4, according to people familiar with the matter, US Republicans are considering creating a new tax bracket for people with incomes of $1 million or more to offset part of the cost of the tax bill, which is in stark contrast to the Republican Partys decades-long opposition to tax increases. People familiar with the matter said the new top tax rate would be between 39% and 40%. Trump administration officials and allies on Capitol Hill are beginning to draft a tax plan, hoping to pass it in the coming months. In addition, Republicans are also considering raising the top tax rate on incomes over $626,350 from the current 37% to 39.6%, which means the top tax rate will return to the level set by former President Obama.US President Trump: Britain is happy with US tariffs.Foreign central banks held U.S. Treasuries worth -$1.76 billion in the week ending March 27, compared with -$14.896 billion in the previous week.Trump trade adviser Navarro: Tariffs are to protect the American people and increase revenue.April 4th, as a new wave of tariffs upends global markets, the dollar has wiped out all of its gains since Trump won the election last November. "The dollar bear market has arrived and its roaring," said Paresh Upadhyaya, director of fixed income and currency strategy at Amundi. He added that the dollar could fall 10% this year as the United States "teeters on the brink of recession." This is in stark contrast to earlier this year, when Trumps policy plans such as tax cuts and tariffs were seen as a reason to bet on a rebound in the dollar. In February, U.S. Treasury Secretary Bessant said Trumps policies were "completely consistent" with a strong dollar, confirming the governments strong dollar stance. "We may be in the early stages of a structural sell-off in the dollar," said Ed Al-Hussainy, strategist at Columbia Threadneedle Investment.

EURUSD attracts sells below 1.0400 in anticipation of Lagarde's ECB address

Daniel Rogers

Nov 18, 2022 15:12

 截屏2022-11-18 上午11.29.22.png

 

The EURUSD lacks direction at 1.0365 on Friday morning after registering its first daily loss in three sessions. In a poor session preceding Christine Lagarde's speech as president of the European Central Bank, the primary currency pair reduces its weekly gains (ECB).

 

The inability of the US Dollar to justify the recovery in US Treasury yields from their six-week low has recently exerted pressure on the EURUSD bearish. The cautious optimism around US President Joe Biden's effort to relax student loan regulations and the most recent survey on the Fed's next move may also pose a danger to pair sellers.

 

The Biden administration will seek the Supreme Court to reinstate the student loan debt relief program, according to CNBC. On the other hand, the Philadelphia Fed Manufacturing Index and housing data for October may have put doubt on the Fed's recent hawkish language.

 

In addition, the most recent Reuters poll for the US Federal Reserve (Fed) indicates that the Fed will downshift in December to deliver a 50 basis point (bps) interest rate hike, but a longer period of US central bank tightening and a higher policy rate peak are the greatest risks to the current outlook.

 

Nonetheless, strong Fed language and weakening Eurozone data may be regarded as the pair's most recent difficulties. Thursday, James Bullard, president of the Federal Reserve Bank of St. Louis, remarked that the US Federal Reserve's (Fed) monetary policy is not now deemed restrictive enough to reduce inflation. In a similar vein, Neel Kashkari, president of the Minneapolis Federal Reserve Bank, stated: "With inflation remaining high and a substantial degree of monetary policy tightening already underway, it is questionable how high the US central bank will need to increase the policy rate."

 

Notably, a downward revision to Eurozone inflation data, as measured by the Harmonized Index of Consumer Prices (HICP), to 10.6% (final) in October from 9.9% (preliminary) in September also favored EURUSD bears the day before.

 

The benchmark 10-year US Treasury yields recovered from a six-week low before remaining roughly unchanged at 3.77 percent, while the S&P 500 Futures remain uncertain as of press time.

 

As the pair loses bullish momentum, a remark from ECB President Lagarde will be crucial for EURUSD price action in the immediate future. However, hawkish words from Lagarde and lower US Existing Home Sales statistics for October will keep bulls in play.