Aussie and Kiwi ascend vs. greenback after Trump comments

Aussie and Kiwi ascend vs. greenback after Trump comments

On Thursday, the Australian along with New Zealand dollars edged up versus their American counterpart because market sentiment on the US dollar remained fragile after Donald Trump provided no specific details on his tax reform, thus disappointing traders.

The currency pair AUD/USD gained 0.19%, being worth 0.7488, easing off a three-month minimum of 0.7452 reached on Wednesday.

Market participants obtained no extra information on the highly-anticipated American tax reform on Wednesday because Donald Trump repeated that the income tax rate paid by public corporations is going to be reduced to 15% from 35%.

Aside from Trump confirmed plans to diminish the top tax rate assessed on pass-through businesses, such as small partnerships as well as sole proprietorships, from 39.6% to 15%.

The currency pair NZD/USD managed to gain 0.38%, trading at 0.6915, off the previous session’s four-month minimum of 0.6868.



Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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