Home » Business » Dollar appreciation Market Keep an Eye on the “Powell” Statement | RYT9

Dollar appreciation Market Keep an Eye on the “Powell” Statement | RYT9

The dollar strengthened against the major currencies today. Investors keep an eye on Federal Reserve Chairman Jerome Powell, who will deliver a half-year statement on monetary policy and the state of the economy to Congress tonight.

As of 9:27 p.m. Thai time, the dollar rose 0.25% to 105.32 yen, while the euro rose 0.21% to 127.96 yen and fell 0.02% to $ 1.215. Which is an index of the dollar against six major currencies in the basket, plus 0.13% to 90.12.

Powell will make a statement to the Senate Banking Committee today at 10:00 AM ET. Or tonight at 22.00 Thai time and to the Financial Services Commission of the House of Representatives tomorrow

In the past, according to tradition The Fed chair is scheduled to make statements to Congress twice a year, the first time in February. And again in June or July

Investors keep an eye on Mr Powell’s statement. For signs of economic conditions, inflation rate, US interest rate direction Including the impact of the coronavirus outbreak On the US economy

Powell’s announcement this week is the first time he will make a statement to a new Congress, where Democrats have a majority in both the Senate and House of Representatives. The government of President Joe Biden is also a Democrat.

In addition, Powell’s statement is important. Because investors are worried that A rebound in US government bond yields And the number of inflation signals a sharp rise. May push the Fed to end the monetary easing policy. After earlier estimates that the Fed will keep interest rates close to 0% for about two years.

Investors expect The United States will face inflation from President Joe Biden’s $ 1.9 trillion stimulus package, with House Speaker Nancy Pelosi saying the House of Representatives will approve the stimulus this week. And the Senate will give approval before March 15, the day the measures to help unemployment affected by COVID-19 expire.


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