European stocks are seen higher on Friday morning as investors focus on data releases and monitor U.S. plans to overhaul the tax system.
The tax plans presented this week by U.S. President Donald Trump have supported some sectors across the globe, but the administration is set for a long battle. On Thursday, White House economic advisor Gary Cohn said he could not guarantee that every middle-class citizen will get a smaller tax bill. The dollar has eased back overnight after jumping on the intended tax changes. The U.S. dollar was trading 0.13 percent higher against a basket of foreign currencies at 93.197 at about 5.30 a.m. London time.
In Europe, investors took note of comments made by European Central Bank (ECB) officials. ECB Governing Council member Francois Villeroy de Galhau said Thursday that the bank should decrease the pace of asset purchases, but still keep monetary policy loose. Executive Board Member, Peter Praet, also said that the central bank isn’t going to discuss an end to monetary stimulus, but instead how to recalibrate its policy.
Brexit negotiators said Thursday they aren’t yet at a position that allows them to discuss future trade arrangements. The next round of talks is scheduled for October.