Analysis of the American trading session

During the American session on Wednesday, January 24, 2018, the US dollar continued to decline against the major market currencies. The main pressure on the US currency was caused by a decrease in the yield of the US government bonds, which on average fell by more than -0.40% during the trades on Wednesday. Also, additional pressure was exerted by weak data on sales in the housing market in the United States. In addition, see “The US dollar remains under pressure. Sales in the secondary housing market are declining.“

The major US stock indices also showed mixed results during US trading, thereby putting pressure on the US dollar (Dow 30 + 0.16%, S & P 500 -0.06%, Nasdaq -0.61%). Also, some pressure on the US dollar was provided by the comments of the US Treasury Secretary Stephen Munchin, who, during a briefing in Davos, pointed to the positive impact of a weak national currency on trade.

Alexander Sivtsov