Analysis of the American trading session

During the American session on Friday, February 23, 2018, the US dollar showed mixed dynamics against the major currencies of the market. The US dollar moderately strengthened against the euro and other European currencies, which was caused by the growth of inflationary expectations in the States. The representative of the Federal Reserve, Mester, spoke about the stable economic growth and strength of the labor market in the United States. Mester also noted that inflation should return to a steady two percent in the next couple of years.

Commodity currencies have risen in price against the US dollar in the course of US trading, which was caused by the continued rise in oil prices. The main support for oil quotations is provided by the effect of the OPEC + pact. Last week, it was reported that Saudi Arabia in March will reduce oil supplies to the world market to maintain a balance between supply and demand.

Alexander Sivtsov