Trump will be in focus this week - ANZ
President Donald Trump addresses a joint session of Congress this week.
Key Quote:
"Some topics that markets will be looking for guidance and insight include the proposed tax cuts and tax reform program, regulation, trade policy, and immigration."
"However, outside of general statements regarding the legislative agenda, we doubt that much more detail will be forthcoming. Treasury Secretary Mnuchin’s interview last week outlined a 3%+ growth target, tax reform, and tax cuts particularly for business and the middle class. While it was reported over the weekend that the administration is aiming to have an outline of a 2018 fiscal budget done by mid-March, it is difficult to see what Trump can add to Mnuchin’s comments at this stage."
"The local highlight is Q4 GDP on Wednesday. Our preliminary estimate is for a rise of 0.6%q/q, 1.8%y/y. After the surprising weakness in Q3, the improvement in Q4 GDP looks to be broadly based. "
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
