He hath remembered his covenant forever. Thirdly, the psalmist praises God's faithfulness. God entered into a covenant with Israel, and that covenant still holds good. He has not forgotten it, and will never forget it.
It is the word which he commanded to a thousand generations (comp. Deuteronomy 7:9). Professor Cheyne concludes, from this passage, that the psalm was not written during the Captivity. But surely a captive in Babylon might have had faith enough to believe that God had not abolished, but only suspended, his covenant.