JinDao_Tai

USD Overview (18 March 2021)

TVC:DXY   U.S. Dollar Index
Yesterday, USD weakened against all major currencies after the Federal Reserve delivered a dovish tone during their monetary policy decision.

Earlier today, the central held its monetary policy unchanged. Although the Fed revised their near-term economic projections upwards, Chairman Jerome Powell highlighted that the short-term rise in inflation above the 2% target is not sufficient for hiking interest rate.

Housing data released yesterday indicated a slowdown in the increase of the number of building permits issued and the number of houses that started construction in February.
  • Building Permits (Actual: 1.68M, Forecast: 1.74M, Previous: 1.89M revised from 1.88M)
  • Housing Starts (Actual: 1.42M, Forecast: 1.56M, Previous: 1.58M)

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