Analysis of the American trading session

During the American session on Wednesday, December 6, 2017, the US dollar strengthened its positions against most major currencies. The main support for the US currency was provided by the growth of the yield of the US state bonds in anticipation of employment data. As for the data, in November the change in the number of non-agricultural workers by ADP was 190 thousand, which is lower than the previous value at 235 thousand, but it exceeded the forecast at 185 thousand. Also, see “The US dollar is stable. The market ignores data on employment “.

The Canadian dollar fell significantly against the US dollar during the US session, which was caused by the results of the meeting of the Bank of Canada. As a result of the meeting, the discount rate was maintained at 1.00%, while the state of the Canadian economy allows for further tightening of monetary policy. In their statement, the management of the Bank of Canada was rather soft and cautious about further raising of the interest rate, which puts the main pressure on the Canadian dollar. See “The Canadian is losing ground. Data on discount rate of the Bank of Canada. “

Alexander Sivtsov