Analysis of the American trading session

During the American trading session on Thursday, November 30, 2017, the US dollar showed mixed dynamics against the basket of currencies. The US currency fell significantly against the euro, despite the positive statistics on the number of applications for unemployment benefits and personal income growth. See “The US dollar remains positive“. The growth of the euro was caused by the profit-taking by investors after a three-day decline in the single currency, as well as the redistribution of capital on the last day of the month.

The British pound rose against the US dollar in the US trading, which was fascilitated by the weakening of the US currency, as well as the continuation of the pound rally due to investor optimism regarding Brexit. The US dollar rose against the commodity currencies during the American session, which was caused by the decline in oil prices, in anticipation of the results of the OPEC summit in Vienna.

OPEC and countries outside the cartel managed to reach an agreement on the extension of the OPEC + pact until the end of 2018, but the producers agreed on a more rapid collapse of the agreement in the event that the market comes back to normal state before the end of the pact.

Alexander Sivtsov