Analysis of the American trading session

During the American session on Tuesday, December 12, 2017, the US dollar strengthened its positions against most of the major market currencies. The main support for the US currency was provided by positive data on producer prices in the US. See “The dollar strengthens the onslaught. Inflation data on the US. ” Also, support for the US dollar is provided by the cinfidence that, following the results of the December meeting of the Fed, the discount rate will be raised to 1.50%.

The British pound spent the US session under pressure against the US dollar, which was caused by the general strengthening of the US currency, as well as the statement of the EU’s chief negotiator, Barnier. On Tuesday, Barnier said that a trade agreement between the UK and the EU is unlikely to be concluded, before the Kingdom leaves the bloc. Barnier also noted that the EU will not accept the UK’s refusal to take on its financial obligations.

Commodity currencies declined against the US dollar during US trading, which was caused by a decline in oil prices, pending the publication of data on crude oil reserves in the US by API.

Alexander Sivtsov