An analysis of the previous day

On Thursday, November 2, the US dollar index weakened because of the leak of details regarding the Trump’s tax reform. This weakening of the dollar turned out to be short-term and insignificant, but it demonstrated market expectations. The pressure on the US currency has increased with the negative opening of the US stock indices.

Such a reaction of the market indicates a reassessment of expectations for the tax reform and correction of positions on the American. These negative sentiments are likely to continue into the Asian session, but will be limited by investor caution ahead of tomorrow’s US employment report.

Anton Hanzenko