The Euro is going on the attack. Overview for 10.11.2017

The main currency pair continues slowly growing on Friday; the USD is under pressure.

The EUR/USD pair is still moving at the end of the week. The current quote for the instrument is 1.1645.

The driver that is counting against the USD right now is the same one that supported earlier. Donald Trump’s taxation reform – it’s very slow and has a lot of obstructions ahead, that’s why investors prefer to avoid risks from time to time. According to the updated information, the Republicans considering an option to adjourn entry of the corporate tax into effect, starting 2019. It didn’t make anyone happy, because tax preferences were the basis of Trump and his office.

In general, the main problem of this reform is the absence of distinct time limits and administrative boundaries. No one really knows how and when it will be implemented. The one thing which is for sure is the end goal intended to relocate all large production operations back to the USA. All other nuances and details aren’t clear.

So, this “vague” picture prevents the USD from being supported by investors.

At the same time, “bulls” have interest in the Euro because the European Commission, which believes that the region’s GDP may expand more than expected. According to updated estimations, the European Union expects the indicator to increase by 2.2% on average, although in May this number was just 1.7%.

RoboForex Analytical Department