Trump's tax plan announcement - Live stream

FXStreet Team FXStreet

U.S. Secretary of the Treasury Steven Mnuchin and National Economic Director Gary Cohn will be giving a joint press briefing at 17:30 GMT, at which they are expected to reveal details of Trump's tax reform as the president nears the end of his first 100 days in the office.

Who is Steven Mnuchin?

After he graduated from Yale University in 1985, Mnuchin worked for investment bank Goldman Sachs for 17 years, eventually becoming its Chief Information Officer. After he left Goldman Sachs in 2002, he worked for and founded several hedge funds. During the financial crisis of 2007–2008, Mnuchin bought failed residential lender IndyMac. He changed the name to OneWest Bank and rebuilt the bank, then sold it to CIT Group in 2015. Mnuchin joined Trump's presidential campaign in 2016 and was named national finance chairman for the campaign. On February 13, 2017, Mnuchin was confirmed by a 53–47 vote in the U.S. Senate.

Latest updates:

Trump's tax plan: Proposes reducing number of U.S. tax brackets to 3 from 7

Trump's tax plan: Proposes 15% business tax rate

Cohn: Trump plan will repeal so-called death tax on estates

U.S. Treasury's Mnuchin: Small and medium sized business also will be eligible for the 15% tax rate

U.S. Treasury's Mnuchin: Administration will be working with congress to turn ideas into a bill that can pass the legislature

U.S. Treasury's Mnuchin: Trump has no intention to release his own taxes

Author

FXStreet Team

FXStreet

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.