020 7898 0500Paul Ryan, speaker of the House of Representatives, banged his gavel in an exceptionally enthusiastic way to confirm the Senate had approved the GOP tax plan. It is not yet a done deal, but it is widely expected to be signed into law before too long and it will be Trump’s first major legislative ‘victory’. The bill is accused of being grossly unfair and essentially functioning as a tax break for the rich.
Existing home sales in the US came in above expectations in yet another sign that the US economy is recovering. The seasonally adjusted rate for November of 5.81 million is the highest level seen since December 2006. Still, the dollar found itself sliding against the euro and trading sideways against sterling.
Today we will see the US GDP growth rate for the third quarter of 2017. It will be interesting to see what has happened over the last few months.
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