Analysis of the American trading session

During the American session on Friday, October 20, 2017, the US dollar strengthened its positions against most of the major market currencies. The main support for the US currency was based on the announcement of the approval of the budget plan for 2018 in the amount of 4 trillion. US dollars. It allows to begin discussion of the revision of the tax code, since the budget for 2018 imposes a reduction in costs.

Additional support was provided by positive statistics on the housing market in the United States. According to published data, sales in the secondary housing market in the US in September amounted to 5.39M, against the previous value of 5.35M. As a percentage, the growth was 0.7%, against the decline in the previous period at the level of -1.7%.

The British pound maintained a strong position against the US dollar during the American session, which was supported by statements of the chairman of the European Council Donald Tusk. Tusk said that the heads of the EU countries are ready to begin the second phase of the negotiations.

The Canadian dollar fell significantly against the US dollar in US trading due to the flat data on inflation and retail sales in Canada. See https://esterholdings.com/en/2017/10/20/kanadets-teryaet-pozitsii-2/

Alexander Sivtsov