Analysis of the American trading session

During the American session on Thursday, February 1, 2018, the US dollar continued to decline against most of the major market currencies. Pressure on the US dollar was made by Fed officials on Wednesday, who did not point to a possible acceleration in the rate hike. This keeps the negative sentiment for the US dollar, while pending key employment data in the United States. Additional pressure on the US dollar was provided by data from the ISM, which turned out to be lower than the previous values. See “The US dollar is declining. Data from ISM USA.“

Commodity currencies rose against the US dollar in the course of the US trading, helped by rising oil prices and a general weakening of the US currency.

Oil prices rose during Thursday’s trading by about 1.50%, amid positive forecasts about the increase in demand for raw materials and the OPEC + pact. In addition, see “Oil today: Oil grows on the Growth of Optimism.“

Alexander Sivtsov