Yesterday, USD weakened against most major currencies except GBP, EUR and CAD.
During day 2 of his testification yesterday, Federal Reserve Chairman Jerome Powell highlighted that interest rates in the U.S. will likely be needed to stay near zero for an extended period while the central bank will continue to purchase bonds to apply downwards pressure on longer-term borrowing costs. Chairman Powell also emphasized the need for Congress to provide more help to unemployed personnel on top of the recent relief package.
The housing data released yesterday indicated an increase in privately-owned housing units authorized by building permits and a slight increase in the number of houses to be built.
During day 2 of his testification yesterday, Federal Reserve Chairman Jerome Powell highlighted that interest rates in the U.S. will likely be needed to stay near zero for an extended period while the central bank will continue to purchase bonds to apply downwards pressure on longer-term borrowing costs. Chairman Powell also emphasized the need for Congress to provide more help to unemployed personnel on top of the recent relief package.
The housing data released yesterday indicated an increase in privately-owned housing units authorized by building permits and a slight increase in the number of houses to be built.
- Building Permits (Actual: 1.22M, Forecast: 1.23M, Previous: 1.07M)
- Housing Starts (Actual: 0.97M, Forecast: 1.10M, Previous: 0.93M revised from 0.89M)