AUD/USD Gains on Reflation Trade While RBNZ News Dispatches AUD/NZD Lower
2021-02-25 00:00:00
Thomas Westwater,
Analyst
Australian Dollar, AUD/USD, AUD/NZD, RBNZ, Powell – Talking Points
Wall Street indexes move higher after Fed Chair Powell reassures markets on monetary policy
RBNZ receives update to remit to consider housing prices in policy, sending NZD broadly higher
US equity indexes moved higher on Wednesday as Wall Street was encouraged by testimony from Federal Reserve Chair Jerome Powell who ensured markets that the Fed will remain in an accommodative stance for some time. The Russell 2000 gained 2.38% while the Dow Jones Industrial Average pushed 1.35% into a fresh record high. The S&P 500 and Nasdaq Composite moved higher by 1.14% and 0.99%, respectively.