Analysis of the American trading session

During the American session on Tuesday, March 20, 2018, the US dollar strengthened its positions against most of the major market currencies. The main support for the US currency was provided by the expectation of Fed results on Wednesday, according to which the raise of the basic discount rate from 1.5% to 1.75% is expected.

The Canadian dollar practically did not change its positions against the US dollar, despite the widespread strengthening of the US currency. Support for the Canadian dollar was provided by the growth in oil prices and also growth in wholesale sales in January, after the December decline in the indicator. For more details, see “Canadian Stability Stores Data on Canada’s Wholesale Sales”.

Alexander Sivtsov