An analysis of the previous day

On Tuesday, November 7, the US currency began the day with a strengthening against most competitors, which was caused by the correction of the dollar and the maintenance of optimism amid the high probability of raising rates at the December meeting of the US Federal Reserve.

But, closer to the closure of the European session, the US currency eased pressure based on the expectations of the speech of the US Federal Reserve Chairman J. Yellen. An additional factor in reducing the American was the decline in the cost of raw materials and stock indices, which affected the commodity currencies.

In addition to very high expectations regarding Yellen’s speech, the US currency continues trading in different directions. Thus pointing to some uncertainty, which will continue after Yellen’s speech. Since the head of the Fed is unlikely to say anything new, and the probability of raising rates remains at the highest level.

Anton Hanzenko