The British Pound has a quiet week and is showing a little movement in the Thursday session. In North American trade, GBP / USD is trading at 1.3367, down 0.06% on day. On the release front, British public sector Net Boring increased GBP 8.1 billion against GBP 8.3 billion estimates. In the US, the third quarter was sharper than the final GDP, because 3.2% profit was just shy at estimating 3.3%. Another American data was a mix, the Philly Fed Manufacturing Index reached 26.2 against the forecast of 21.5 points. The unemployment claim was disappointing, 245 thousand climbing would be busy on both sides of the pond on Friday, so it was much more than the 232 thousand estimate, so traders should be ready for some movement from GBP / USD. The UK issues current account and final GDP, while there are three important events in the US - core sustainable goods, new home sales and UOM consumer sentiment.
The negotiation between the European Union and the UK on the break is difficult since the beginning, but the talks are finally going on in business relations, because there has been substantial progress on other issues like Britain's Divorce Bill and the size of the Northern Ireland border. What will the trade relations between Britain and EU look like?
It is not clear, but it is no secret that the two sides have very different views of the future trade agreement. For example, will financial services be linked to a new trade agreement? Boe's governor Mark Carney descended on a barbed issue on Wednesday, in testimony before a parliamentary committee, Carney discussed the issue with comments from the European Union's senior negotiator Michael Barnier. Barnerne said that UK financial services would not be included in the breakage deal because financial services were not included in any free trade agreements, Carni dispute over the argument of sister-in-law, stating that the British financial system was "effectively for Europe Banker "and there was no reason why some types of free trade in the UK and EU financial services Could not maintain. Obviously, both parts will look like a breaksite contract are different from the "end phase", and both the UK and the EU have to show some flexibility to compromise until March 2019, when the UK leaves the club.
Tax reforms for President Trump during the election campaign were a major topic. On Wednesday, the House of Representatives voted to pass the tax reform bill, marking Trump's first major legislative victory in office, paving the way for improvement lawmaking by Trump and fellow Republicans, only one year in office. After that, after the narrow passage in the Senate, the vote of 51-48. Trump is expected to sign a bill in law next week. Tax law marks the first major overhaul of US tax code in 30 years, and reduces corporate tax from 35% to 21%. After reversing Obamacare, Republicans finally earned a big win. Republicans promised to give significant relief to the middle class, But the elections show that the American public is suspicious. With Congress elections next November, tax reform promises to be an important issue, and can determine which party will control the party in 2018?
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