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Currency Market Analysis

Feb 25, 2021 | Currency Market Analysis

Global Themes

AUD and NZD continue to outperform against USD and SGD

Commodity Currencies rose to 3 year high against USD

AUD rose to 0.7978 for the first time in 3 years against USD while USD index traded relatively flat.

AUDSGD and NZDSGD remarkably maintain buoyant for the past 6 months.

AUDSGD has been rising to the 3 years high and NZDSGD touched the highest since Sep 2017.

USDSGD has been traded sightly lower while Singapore trading partner’s currency EUR, CNY, AUD, JPY went up marginally against USD as well.

Jerome Powell, Fed Chairman extinguish the concerns about inflation

Powell told the House of Representatives Financial Services Committee when asked about Fed projections that inflation will remain at or below the central bank's 2% target through 2023.

Fed's Brainard says U.S. economy is far from employment, inflation goals during a virtual guest lecture at Harvard University too.

US 10 years treasury yield tested the high at 1.4350% during the intraday session but it was capped after comments by FRB members above.

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