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May 7, 2017

Trump signs budget bill, dollar sinks despite solid NFP data.

Trump signs budget bill, dollar sinks despite solid NFP data.

President of the United States Donald Trump, signing the bill on financing of the federal government until September 30, 2017, said that in a number of provisions of this bill he will act in accordance with his constitutional powers of the head of state and supreme commander in chief. In a statement released on Friday, the US President noted that, in particular, the provisions limiting the financing of peacekeeping operations “in some circumstances may limit my authority to make changes in the command and control of military personnel.”

In addition, as noted in the statement, the law has provisions prohibiting the transfer of prisoners to Guantánamo in other countries and the United States. “I will consider these and similar provisions in accordance with their constitutional powers as commander-in-chief,” stressed Trump. One of the provisions of the law on the budget, which drew the attention of the US president, was a ban on financing payments to some advisers to the White House. “The law that significantly prevents me from managing and receiving the views of senior advisers violates the principle of separation of powers, undermining my ability to fulfill my constitutional obligations,” the US president said. Thus, he stressed, the White House “will consistently follow these presidential prerogatives.”

Earlier on Friday, D. Trump signed a law on the financing of the federal government until September 30, 2017. Earlier, this law was approved by the House of Representatives and the US Senate. The total US budget for the current fiscal year, which ends on September 30, is $ 1.1 trillion.

Dollar closed in red on Friday despite upbeat payrolls report, signaling continued strengthening of the labor market in the US. In April, US economy added 194K jobs, beating an estimate of 190K, unemployment rate slid to 4.4% boosting chances of the rate hike in the next meeting. Next week will be probably bullish for US Dollar with a near-target at 100 level

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