Yesterday, USD weakened against all major currencies.
Earlier today, the Federal Reserve held monetary policy unchanged, holding interest rate at the targeted range of 0-0.25% and maintains monthly bond buying at $120 billion. Although the central bank acknowledged that progress is made in the recovery of the U.S. economy, Fed Chairman Powell highlighted that the recovery is still far from complete. Powell also highlighted that the transitory rise in inflation this year will not meet the standard for raising rates.
The Advance GDP q/q data (Forecast: 6.8%, Previous: 4.3% revised from 4.0%) will be released later at 2030 (SGT).
Also, the Unemployment Claims data (Forecast: 545K, Previous: 547K) will be released at 2030 (SGT).