An analysis of the previous day

On Wednesday, November 1, the US dollar index reticently strengthened against its main competitors in anticipation of the publication of the results of the US Federal Reserve meeting and the completion of a correction against the growth of the American last week. An additional factor in strengthening of the American was the positive data on the US and the growth of stock indices. Despite this, the market  monitors the forthcoming publication of the US Federal Reserve Protocol and hints of the possibility of raising rates in the US in December.

Also, some investors remain in a pending position relative to the British pound, which is due to the expectation of an increase in rates by the Bank of England. Therefore, the US and Asian sessions do not exclude the possibility of correcting positions on the pound after a two-day growth. This, as a result, can cause the decline of the British pound to the Tuesday levels.

Anton Hanzenko