Analysis of the American trading session

During the American session on Tuesday, November 21, 2017, the US dollar declined against most of the major market currencies. The pressure on the American currency was caused by the  doubts in the implementation of the tax reform, as well as the decline in the yield of 10-year US government bonds. The deterrent factor for a stronger decline in the American was the positive statistical data on sales in the secondary real estate market in the United States. See “The US dollar remains under pressure.“

The Canadian dollar strengthened its position against the US dollar in the course of US trading, which was caused by the recovery in the growth of oil prices, as well as against the general weakening of the American. At the beginning of the American session, the Canadian was under some pressure in response to weak data on wholesale sales in Canada. See “The Canadian is under pressure: Data on wholesale sales in Canada.“

Alexander Sivtsov