Analysis of the American trading session

During the American session on Thursday, March 1, 2018, the US dollar weakened its positions against the major currencies of the market. Basically, this decline was due to technical factors and partial profit-taking by investors on long positions of the US dollar. Also some influence on the course of trading was made by the statements of the head of the Federal Reserve Powell. Powell noted that to date there are no convincing signs of accelerating the growth of wages, and strengthening of the labor market will not cause an increase in inflation.

The Japanese yen and the euro rose significantly against the US currency, which was caused by the discontent of a number of countries over the US decision to impose tariffs on steel and aluminum. Chairman of the European Commission Juncker said that the EU will firmly respond to the protection of interests and in the coming days will publish a proposal for joint counter-measures with the WTO against the United States.

The British pound showed mixed dynamics against the US dollar in the course of American trading and concluded the session with a slight increase. This dynamics of the British was connected with the correction of positions on the eve of the speech of the head of the Bank of England Carney and the British Prime Minister Theresa May.

Alexander Sivtsov