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Pingtian International Trading Center, Silver, Copper, Crude Oil, Asphalt and Natural Gas, Telephone Recruitment for Member Agents, Account Opening, High Commission Investment, Pingtian International Platform Information, the U.S. Dollar Index once again hit a 13-and-a-half-year high, supported by Federal Reserve Chairman Yellen’s interest rate hikes and good economic data. . On Thursday, the market welcomed Federal Reserve Chairman Yellen's congressional testimony. Yellen changed her previous dovish image and supported an interest rate increase at the end of the year, which supported the continued rise of the US dollar. In addition, the overall good performance of economic data released by the United States on Thursday also supported the dollar. At present, the group's tools show that the probability of the Federal Reserve taking action to raise interest rates in March has increased to 1, and a rate hike next month is almost a foregone conclusion.
Federal Reserve Chairman Yellen supports raising interest rates. In testimony to the U.S. Congress released on Thursday, Federal Reserve Chair Janet Yellen pointed out that interest rate increases may come relatively quickly and that waiting too long to implement tightening monetary policy will bring dangers. The labor market continues to make progress, and economic activity has strengthened from modest growth in the first half of the year. Yellen noted that inflation, while still below the central bank's target, has improved. The Bank continues to expect that the evolution of the economy will allow only gradual increases in the federal funds rate over the long term to achieve and maintain maximum employment and price stability.
The overall performance of the economic data released by the United States on Thursday was good. Among them, initial jobless claims data for the week and housing market data performed better than expected, while inflation data and the Philadelphia Fed manufacturing index also performed solidly. Specific data shows that the number of people applying for unemployment benefits for the first time in the United States in the week of March was 10,000, which was an expected low of 10,000 for more than a year, and the previous value was 10,000. The number of people applying for unemployment benefits for the first time in the United States unexpectedly dropped by 10,000 in the week of May, reaching the lowest level since the beginning of the year, indicating that the labor market is further tightening and supports the Federal Reserve's interest rate hike. U.S. monthly building permits are 10,000, expected 10,000, previous value 10,000, monthly rate, expected, previous value. U.S. housing starts started at 10,000 per month, hitting a more than nine-year high, expected to be 10,000, compared with the previous value of 10,000. Monthly housing starts in the United States hit a nine-year high, with both single-family and multifamily housing starts rising. Monthly building permits also rose slightly. These data indicate that the housing market continues to improve and will support economic growth in the fourth quarter. The U.S. monthly rate is the largest increase in six months, expected, and the previous value. The annual rate is the largest increase since 2018, and is expected to be the previous value. The fuel and housing markets drove the United States to rise for the third consecutive month, with the annual rate of increase reaching the largest increase in more than two years, which means that it is closer to the Federal Reserve's target. US monthly Philadelphia Fed manufacturing index, expected, previous value. The monthly manufacturing index has remained above 10 for the fourth consecutive month, indicating that manufacturing conditions continue to improve, and overall activity, new orders, shipments and deliveries are in good condition.
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