Let’s have a look at the economic calendar.
US dollar: forecast for May 1-5
Donald Trump has lived through the first 100 years of presidency. His tax plan has disappointed investors with its lack of details. In addition, the markets are skeptical that any comprehensive tax changes will be approved by the Congress. Canadian dollar and Mexican peso strengthened versus their US counterpart on the news that the United States doesn’t immediately plan to withdraw from the North American Free Trade Agreement. As for the geopolitical tensions, Trump said that a major conflict with North Korea is possible, but he would prefer a diplomatic outcome to the dispute. There may be more headlines on this topic in future. In the meantime, US GDP growth has slowed down to 0.7% in the first quarter.