Analysis of the American trading session

During the American session on Wednesday, 01.11.2017, the US dollar maintained a strong position against most of the major market currencies. The US dollar was supported by positive data on employment by ADP. Read more …

Stronger strengthening of the US currency was restrained by expectations of the results of the Fed meeting, as well as flat data by the US ISM. See https://esterholdings.com/en/2017/11/01/dollar-ssha-zamedlil-rost/.

Regarding the results of the November meeting, in their statements, the FRS leadership did not hint at plans for the December meeting. That is why the US dollar continued its trading in a narrow range against the basket of currencies.

The British pound fell significantly against the US dollar. This was caused by profit-taking by investors, after the strengthening of the British currency at the beginning of the week, as well as in connection with the correction of positions on the eve of the meeting of the Bank of England on Thursday.

Alexander Sivtsov