Analysis of the American trading session

During the American session on Tuesday, February 6, 2013, the US dollar declined against most of the major market currencies. This decline was due to profit taking on long positions of the US dollar. Also, the pressure was exerted by the resumption of the decline and profitanility of the US government bonds and weak statistic data on the United States.

• The trade balance in December was $ -53.118 billion, against the November value of $ -50.435 billion.
• The number of open vacancies in the labor market in December was 5.811 million, which is lower than the previous value of 5.978 million.

The British pound in the course of the American trading has played back almost all previously lost positions, which was caused by the widespread weakening of the American currency. Also, the attention of market participants is already shifting to the February meeting of the Bank of England, the results of which will be published on Thursday. The increase in the discount rate at the February meeting is not expected. Market participants will be waiting for signals about a possible tightening of monetary policy this year.

Alexander Sivtsov