Learn about the most important developments in global markets within 24 hours

[DinarThug]

Learn about the most important developments in global markets within 24 hours

 

29th September, 2017
 

The global economic markets witnessed several important developments during Thursday, including the confirmation by the US Treasury Secretary that the proposals of US President Donald Trump are not negotiable.

Crude oil turned down on settlement, after Nymex crude hit a 5-month high earlier in the session.

US tax cuts "non-negotiable" 
US Treasury Secretary Stephen Munchin said US President Donald Trump's 20-percent reduction in corporate taxes was "not negotiable".

The US president has announced that his plan for tax reform requires a 20 percent reduction in corporate taxes, from 35 percent at the moment.

Donald Trump said the new details of those reforms, including increased income levels, would be tax-exempt to $ 24,000 for married couples and $ 12,000 per person.

Sterling The 
British pound has moved higher against the US dollar, having been low, after comments by the Bank of England Governor on the impact of the possible "bricast".

The British central bank governor said he could not stop the impact of the UK exit from the EU, stressing that the economic boom would depend on the final arrangements for BRICEST.

While the dollar continued to lag in trading after different economic information regarding the recovery of the US economy, and requests for aid in the United States.

The data showed that the recovery rate of the US economy during the second quarter of the current year increased by 3.1 percent, at a faster pace than expected.

While the number of US jobless claims rose more than the previous week to 272,000.

Crude Oil Crude 
oil is down to settle at the level of "Nymex" level below $ 52, having earlier achieved the highest level in 5 months, supporting concerns about the ongoing tensions in the territory of the Kurdistan Region.

The Turkish Prime Minister has pledged that his government will deal only with the Iraqi government, in recent pressure on the Kurdistan region to prevent them from secession from Baghdad, after threats in the same context of President Recep Tayyip Erdogan.

Natural gas expanded its losses during the day, with the US Energy Information Administration announcing a 58-billion-cubic-meter increase in stockpiles during the previous week, less than expected.

Collective 
increase Japanese stock indexes rose, with the implementation of the decision to settle the parliament, the yen fell against the dollar, to hit the Nikkei index level of 20363.1 points.

European stock indexes ended with the close of trading, with signs of continuing stimulus in the euro area.

US stocks rose, with Standard & Poor's hitting a record closing level, and the Dow Jones was up for the second session in a row, after economic data.

Record highs for Russell 
The Russell 2000 index of US small-cap stocks registered a record close for a second consecutive session, after economic data on US economic growth and aid claims.

The index hit a record high yesterday, coinciding with US President Donald Trump's tax reform in the United States.

Shares in the US entertainment giant Rocco Inc. rose 67.8 per cent on the first day of the stock offer from $ 23.5, up from $ 14 per share.