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+ Check out the news of the past 24 hours:
1️⃣ Fed Chairman Powell reiterated his commitment to maintain easing policies, stressing that job creation is a top priority.
Fed Chairman Powell said on Thursday that with the progress of vaccinations and the government's financial support, “we have every reason to believe that further progress will be made in achieving the entry. Fed spending on full employment and inflation is consistently at 2%. However, even if this situation is reached, it will take a long time. I want to be clear about this. Even if the situation improves, I hope we will be patient. "
- It can take a long time to restore production and fill the lost jobs and it may be difficult to reach maximum jobs this year.
- The Fed has no plans to change the QE, continue to patiently wait for inflation to rise according to the expected target.
- The Fed is not ready to change the current rate hike plan, it may take more time to consider raising interest rates.
- The US bond yields continue to increase strongly and continue to be the key drive to support the expectation that the USD will rebound when the economy is more prosperous.
- However, the US stock market reversed and declined due to concerns that FED would consider intervening in policy when bond yields are increasing.
2️⃣ Notable economic facts and data today
- At tonight, the February season-adjusted US non-farm employment data will be released, expected to increase by 182,000, 49,000 higher than previous values. Be wary of below-expected non-farm risks. The market expects that the US unemployment rate in February will hit a record 6.3%, equal to the previous value.
On Saturday morning, the 2021 FOMC voting committee, Bostic will deliver a speech on "macroeconomic policy" at an online event. You may have noticed his statement about the soaring US bond yields.
- On Friday, Bank of Japan Governor Kuroda Haruhiko will make a speech after Kuroda Haruhiko said that he has no intention of raising Japan's 10-year government bond yield target from the 0.
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