Analysis of the American trading session

During the American session on Tuesday, December 19, 2017, the US dollar showed mixed dynamics against the basket of currencies. In the course of trading, support for the US currency was provided by data on the real estate market in the US, which turned out to be more positive than analysts predicted. See “The dollar received support from the US construction sector”.

The main pressure on the US currency is provided by the expectation of voting on the tax reform in the US, against which investors are cautious and adjust their positions, as the effect of successful passage of the bill may be limited. Investors remain concerned that the tax reform in the US will not have a significant impact on the growth of the US economy.

Today, there will be a second vote on the tax reform in the US due to inadequacy of the Senate’s three provisions of the document. Due to the violation of a number of formalities, the decision can not be taken by a simple majority, votes of two third senators are required.

Alexander Sivtsov