Analysis of the American trading session

During the American session on Tuesday, February 27, 2018, the US dollar significantly strengthened its positions against the major currencies of the market. The main support for the US currency was provided by the comments of Federal Reserve Chairman Powell. Powell noted that the increase in interest rates should continue, despite the additional stimulation of the economy due to tax cuts and government expenditure growth. Powell also spoke positively about the state of the economy and its growth. For more information, see “The US Dollar has updated the daily high against the basket of currency on Powell’s comments.“

Also, in the course of American trading, the US dollar was supported by the growth of consumer confidence.

• According to published data, the consumer confidence index rose to 130.8 in February, exceeding the previous value at 124.3.

Alexander Sivtsov