Search ForexCrunch

What you need to know on Thursday, February 25:

 US Treasury yields reached fresh multi-month highs but pulled down as Wall Street advanced. The DJIA closed at fresh record highs, while the S&P trimmed a got part of its latest losses. The dollar traded accordingly, advancing alongside yields and later retreating, ending the day lower against most high-yielding rivals.

EUR/USD can not attract investors, stuck below the 1.2170 price zone. GBP/USD jumped to 1.4237 but retreated some 100 pips ahead of the US close. The AUD and the CAD reached fresh 2021 highs against the greenback, settling nearby. USD/JPY trades around 106.00 not far from this year’s high, getting a double boost from equities and yields.

The Bank of England took note of the pound’s strength, as BOE’s Deputy Governor Ben Broadbent, testifying on monetary policy, noted that sterling appreciation could have some depressive effect on inflation, adding that inflation expectations are not a level that would be worrisome for policymakers.

US Federal Reserve head, Jerome Powell, repeated his testimony before another Congress committee. His words had a limited impact on the dollar, but for sure boosted equities as he reiterated that substantial progress in employment is needed before talking of easing monetary support, adding that the US is far from returning to full employment.

Gold settled below 1,800 while WTI advanced above $63.00 a barrel, reflecting the upbeat tone of US equities.

S&P 500 Forecast: Day Ahead Outlook Bulls back in control as doves fly

Dogecoin price jumps 20% thanks to yet another endorsement from Elon Musk

Expert score


Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.