Analysis of the American trading session

During the American session on Wednesday, March 21, 2018, the US dollar declined against the major market currencies. In the first half of trading, the US currency showed mixed dynamics against the main competitors, which was due to the expectation of the publication of the results of the March meeting of the Fed and Powell’s comments. Some support at the beginning of the US trading the US dollar received from positive data on sales in the secondary housing market. For more details, see “The US Dollar is stabilizing. Data on sales of housing in the US. “

As for the Fed meeting, as expected, the interest rate was raised from 1.50% to 1.75%. This news was calmly received by the markets, as it was expected, the main impact on the US dollar was provided by the comments of Fed Chairman Powell, who pointed out that the Fed still expects three rate hikes in 2018, which disappointed the market participants who were waiting for the confirmation of the words of the first Powell’s speech on the possible acceleration of the rate of interest rate increase.

Alexander Sivtsov