State of the Market

Most of the instruments of the foreign exchange market demonstrate a rather restrained dynamics during the European session. This movement of currency instruments is due to the lack of a significant catalyst in the market. In today’s trading, the market participants are focused on the decision of the Bank of Canada to change the discount rate, the growth of it will provide significant support to the Canadian dollar. See “Market Focus“

The US dollar index maintains a positive sentiment, adding to the quotation of about 0.20%, the main obstacle to a stronger US dollar growth is low demand, as well as a decrease in the profitability of the US government bonds, which, on average, dropped by -0.12%.

Fig. Graph of the US dollar index. Current price DXY – 90.44

Alexander Sivtsov