Analysis of the American trading session

During the American session on Monday, 06/11/2017, the US dollar fell against the basket of currencies. In general, this decline in the US currency was due to technical factors and continued fixation of profit by investors, after the strengthening of the US dollar on Friday. Also a pessimistic note was added by the statement of the President of the Federal Reserve Bank of New York about resignation.

The British pound strengthened its position against the US dollar in US trading. The growth of the GBP/USD was helped by the general weakening of the US currency, as well as the comments of Theresa May at the conference of the Confederation of British Industry. In her speech, May noted that the EU began to discuss relations with Britain after Brexit and sets itself the task of clarifying the situation for business as much as possible.

Commodity currencies rose in price against the US dollar during the American session, which was supported by the continued rise in oil prices. Oil prices continued their growth in the second half of Monday trading pending the extension of the OPEC + pact and the reduction of drilling activity in the US. For more information, see https://esterholdings.com/en/2017/11/06/oil-current-news-16/.

Alexander Sivtsov