Tax cuts will drive American economy, although benefits will be short-lived

Tax cuts will drive American economy, although benefits will be short-lived

The American economy will most probably soar this year at its fastest tempo for three years, powered by the greatest tax overhaul since the 1980s. That’s what most market experts told in a Reuters survey that also revealed that they hoped the boost would be short-lived.

The $1.5 trillion tax package signed by Donald Trump on December 22 didn’t cause a powerful market reaction, although it gave a firm push to the outlook for the world's number one economy.

Simultaneously poll respondents didn’t expect the Fed to drift away from its current guidance of three interest rate lifts in 2018.

The survey of more than 100 market experts during January 11-19 demonstrated that American annual GDP expanded 2.6% in 2018 versus 2.4% forecast the previous month.

More than ¾ of 76 market experts who responded to an extra question told that the forecast benefits from the tax cut initiative would start boosting surge considerably in 2018.




USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

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Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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