Analysis of the American trading session

During the American session on Friday, 03/11/2017, the US dollar strengthened its positions against most of the major market currencies. The main influence on the course of trading was provided by data on employment and average wages in the US. Data on employment turned out to be very positive. Nevertheless, immediately after publication, the US dollar fell sharply against the basket of currencies. Thus, market participants focused their attention on weaker data on changes in the level of average wages.

• According to the published data, the change in the number of employed in the non-agricultural sector was 261K, exceeding the previous value of 18 thousand.
• The unemployment rate declined in October to 4.1%, against the previous value of 4.2%.
• The average hourly wage in October has changed by 0.0%, compared to the September value of 0.5%.

Later, the US dollar moved to growth and strengthened its position against the basket of currencies, as the October change in employment increases the likelihood of an increase in the discount rate of the Fed in December.

The Canadian dollar significantly strengthened its position against the US dollar in the course of the American trades, which was supported by positive data on employment in Canada, as well as the positive dynamics of oil prices. For more information, see https://esterholdings.com/en/2017/11/03/mnenie-po-pare-usd-cad-4/

Alexander Sivtsov