The US house plan passed the much anticipated tax reforms plans on Thursday. The tax reforms are expected to see corporate tax being cut to 20% from the current 35% including other tweaks in an attempt to make businesses more competitive and attractive in the United States. The bill was passed with 227 votes in favor and 205 votes against.
The tax reforms bill did not garner much attention in the currency markets. On the economic front data, yesterday showed that the Eurozone final CPI was confirmed at 1.4% while core CPI was seen at 0.9%, unchanged from the flash estimates.
Looking ahead, the data today includes a speech by ECB President Mario Draghi. The economic calendar is quiet with the exception of Canada’s inflation data due later in the day.
