Analysis of the American trading session

During the American session on Wednesday, December 20, 2017, the US dollar showed mixed dynamics against the basket of currencies and finished trading lower against most competitors. The expectation of the results of a repeat voting on the tax reform in the United States was the main driver.

The signing of the bill by President Trump can be postponed until January, as Congress must first approve a resolution on continuing government funding, if the resolution is not adopted before the holidays, the signing of the bill may exceed 10 days, after which an automatic veto can be imposed.

Also, during the US session, the US dollar was supported by data on the housing market, which were higher than the previous value. See “The US Dollar is trying to stabilize positions”.

The single currency rose against the US dollar in the course of trading, which was due to the technical factors, as well as the growth of the cross-rate EUR/GBP.

The Canadian dollar also rose in price against the US dollar, the catalyst was the increase in Canadian wholesale sales in October. See “The Canadian strengthens positions. “Whole sales grow“.

Alexander Sivtsov