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Currency Market Analysis

Feb 24, 2021 | Currency Market Analysis

Global Themes

SGD is approaching to the 3 years high against USD

Financial markets seems to show a sign of stabilization from the volatile session for the last couple of days after congressional hearing of Fed Chairman, Jerome Powel. Jerome Powel pointed out a couple of points.

One of them is to address the rising concerns about the inflation expectation during the challenging economies.

Secondly he mentioned that it is a long way to achieve the employment goal implying the continuous current accommodative monetary policy.

He also commented that the Money Supply would not be relevant any more by replying to John Kennedy, Republican Senator.

USDSGD has been slid down gradually and testing the nearly 2 month low and 3 years low next.

SGDCNH touched the nearly 2 month high as well.

Financial Market showed a sign of stabilization but remain vigilant

Congressional hearing put a damper on US treasury yield hammered particularly 5y through 10y leading the treasury yield curb flatter.

US stocks opened sharply lower from the close of prior day, however, it recovered most of them after the Jerome Powell congressional hearing.

Employment related indices are getting more important than ever as it is one of the most important indices to make decision for future Monetary Actions by Fed.

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