Analysis of the American trading session

During the American session on Wednesday, November 29, 2017, the US dollar strengthened against most of the major market currencies. The main support for the US dollar was provided by the positive preliminary data on GDP for the third quarter, as well as optimism in the Fed’s interest rate increase in December. See “The US Dollar Strengthens Positions: the US GDP Data.“

The British pound continued to strengthen its positions against the US dollar in the US trading, receiving support from the announcement that the EU and the UK have reached some agreement on the financial issue on Brexit. For more information, see “The British maintains a strong position“.

Commodity currencies declined against the US dollar during the US session amid a decline in oil prices, triggered by mixed data on oil and petroleum products in the US, as well as a continuation of the correction of positions in anticipation of the OPEC summit that will be held in Vienna today. See “Oil is in uncertainty“.

Alexander Sivtsov