Analysis of the American trading session

During the American session on Friday, 10.11.2017, the US dollar was trading in a mixed way against a basket of currencies and finished trading lower against most competitors. An opportunity to delay the entry into force of the tax reform put the main pressure on the US currency . See Market is in anticipation of the amendments to the tax reform.

Additional pressure on the US dollar also was provided by a drop in consumer optimism in the United States in November. See The US dollar remains under pressure: Consumer optimism is declining.

The British pound maintained a strong position against the US dollar during the American session. The British continued to support the growth of industrial production in the UK, as well as the reduction of concerns about Brexit.

• According to published data, production in the manufacturing sector in September increased by 0.7%, against the previous growth of 0.4%, on an annualized basis, the growth rate was 2.7%, while analysts expected a slowdown to level 2, 4%.
• The volume of industrial production in September increased by 0.7%, exceeding the August value of 0.3%, on an annualized basis growth of the index was 2.5%, exceeding the previous value at 1.8%.

As for Brexit, on Friday the EU chief negotiator Barnier noted that it is necessary to continue working on the rights of citizens and agree on the financial side of the issue. As for the tight border with Ireland, Britain intends to avoid its occurrence.

Alexander Sivtsov