FX News

FX Update for 2021-03-12

  • Worldwide coronavirus cases surpass 119.095 million with over 2.64 million official deaths
  • Biden’s 1.9T coronavirus stimulus relief fund has been approved by congress
  • It’s highly probable that a large chunk (over 15%) of the US Stimulus checks could go directly into the stocks
  • US 10 year treasury note continues to rise adding further pressure for the Fed to acknowledge inflation is on the horizon
  • Up to 300,000 jobs could be lost once the Australian Federal Government job-keeper wage subsidy ends this month, experts are also warning more than 10,000 businesses could close permanently
  • The Organisation for Economic Cooperation and Development has raised their 2020 world growth forecast from 4.2% to 5.6% and 3.7% in 2022 from 4.0% with notable risks of efficiencies of how the coronavirus vaccine rollouts will go
  • UK manufacturers are seething after added costs and one to two week delays post Britain’s departure from the European Union
  • New Zealand House prices ending February 2021 reach record highs. Up 22.8% nationally to 780,000 from 635,000. Of note Auckland up 24.3%, Hawkes Bay up 36.4% and Wellington region up 24.0%
  • The Bank of Canada held rates at 0.25% Thursday saying they would leave rates unchanged for some time although the economy was faring better than predicted as they come out of the covid pandemic
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