State of the Market: The Dollar is waiting for news on tax reform

On Tuesday, the US currency is trading with a slight decrease against the main competitors, after it updated the minimum and partially restored the position on Monday. The main reason for such multidirectional movements of the US currency is the expectations of data on the tax bill in the US.

The US Congress is expected to adopt a tax bill this week. Voting in the House of Representatives will take place on Tuesday, and in the Senate it will take place a little later. As a result, the dynamics of the US currency froze in anticipation of data on the US, which may repeat yesterday’s pattern of the market movement. Also today, a significant amount of news will be published. This may influence the market before the liquidity decreases on the eve of the Catholic Christmas.

Graph of the US dollar index. The current price is 93,600.

Hanzenko Anton