After edits made on Friday by Republicans in tax reform, the dollar began to strengthen its position. Many believe that the ratification of the bill can happen as early as this Thursday and then only the signature of the Head of the White House, Donald Trump, remains - it will lead the law into effect. The main tax relief would be for corporations whose income will increase significantly with a decrease in corporate tax from 35% to 21%. Such prospects may return part of the business in the country and will be the topic for discussion and transfer of business in the US from other developed countries with more stringent corporate regulations. Donald Trump's announcements on national and economic security are also expected today in which he will likely call for economic aggression and oppose China's economic expansion, as the increasing competitiveness of Chinese goods poses a danger to the United States.
Today Brexit negotiations will continue with UK Prime Minister Theresa May discussing the UK release conditions of the union and the further relations with the EU. Despite the willingness of the parties to move to the second phase of the negotiations, those points are likely to be discussed in March.
After Friday the Social Democratic Party of Germany has agreed to talks on forming a coalition with Chancellor Angela Merkel, so the euro showed moderate growth. Today the eurozone is looking forward to the release of data such as the consumer price index in annual and monthly terms. If the data does not meet the projections we can expect increased volatility in the euro.
