Analysis of the American trading session

During the American session on Tuesday, October 31, 2017, the US dollar weakened its positions against most of the major market currencies. The cautious position of market participants on the eve of the Fed meeting was the main reason for the weakening of the American, as well as expectations of the Trump’s announcement about the next chairman of the Fed. A more significant drop in the American was restrained amid positive business activity data and consumer confidence in the US. See www.esterholdings.com/en/2017/10/31/dollar-ssha-sohranyaet-polozhitelnyj-nastroj-2/

The British pound continued to strengthen its positions against the US dollar in the US trading. The statement of the chief negotiator from the EU on Brexit Michel Barnier was the catalyst for the growth of the pound. Barnier said the EU was ready to speed up the negotiations between London and Brussels. This received a response from the British Minister for Brexit David Davis, who also confirmed that Britain wants to speed up the Brexit process.

The Canadian dollar significantly weakened its position against the US dollar in the course of the American trading based on the weak statistics on Canada. Read more… The speech of Stephen Poloz was late at night. During the speech, chairman of the Bank of Canada did not comment on any further action with regard to tightening of monetary policy. Thereby retaining the low-key Canadian dynamics in the second half of Tuesday trading.

Alexander Sivtsov