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US Dollar and Tax Cuts Market Review
0Gold drops down at $ 1,226.80 (-10.30) per ounce today. Silver Price $ 17.78 (-0.05). Dow Jones index goes up to 20,224.49 (Today’s change 0.36%). The Stock market today! Tune in for the US Dollar and tax cuts updates.
US Dollar
After President Donald Trump once called National Security Adviser Mike Flynn to ask about the impact of strong US dollar and came up with the idea that strong dollar can be bad for US economy because American companies can’t compete with Chinese companies due to the strong US currency. New Administration suggests that strong dollar can hurt US based producers that export their goods, which become more expensive. The Governor of Central Bank of Iran announced that US Dollar will no longer be used within the country as a response to US President Donald Trump’s controversial temporary travel ban on certain countries including Iran. Thus, experts concern we can expect US Dollar might keep going down. US Dollar forecasting is full of breakdowns, like any asset the dollar can go up, down or sideways. We suggest the best way is following the stock updates. Because it may be some time yet before the central tendency reasserts itself, however.
Stock Market Today
Investors’ enthusiasm for President promises of tax cuts, deregulation, and fiscal stimulus leads the market in a “fragile spot” this week. Wall Street's three main indexes surged to fresh record highs on Thursday. This was after President Donald Trump said he would make a major tax announcement in a few weeks. After the market drifted sideways for a couple weeks, now here it is at levels on the S&P (Standard & Poor) where it has broken through overhead resistance," said Walter Todd, chief investment officer at Greenwood Capital Associates. It means the US market could continue to grind higher from this point.
Other articles: US Dollar and Tax Cuts Market Review, Gold and Silver Price Approaching Interim Lows, U.S. Dollar vs Precious Metals, What Does the Stock to Gold Ratio Tell?
