USD Overview (25 March 2021)

Yesterday, USD strengthened against most major currencies except CAD.

The flash PMI data released yesterday showed that business activities in March continue to expand at a similar rate as February.

• Flash Manufacturing PMI (Actual: 59.0, Forecast: 59.6, Previous: 58.6 revised from 58.5)
  
• Flash Services PMI (Actual: 60.0, Forecast: 60.1, Previous: 59.8 revised from 58.9)
  

During his testification yesterday, Federal Reserve Jerome Powell said in response to the recent rise in U.S. inflation that persisting high inflation should not be expected but if it happens, the central bank will have the necessary tools to tone it down to their 2% target.

The U.S. final GDP q/q data (Forecast: 4.1%, Previous: 4.1%) will be released later at 2030 (SGT).