Friday, April 19, 2024

Will the US save itself after the first bank failures and where should we expect the dollar at the end of the week?

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Investors' bullish dollar sentiment eased on the last day of the previous week. The biggest fears are about continued bankruptcies of banks, as well as about queues in front of bank branches.
Combined with poor unemployment data on Friday, as well as high interest rates, making debt servicing increasingly difficult.
The dollar lost about 120 pips against the Euro on Friday and today at the Asian open.
There will be an emergency closed-door Fed meeting today. This is a clear signal that concerns about the banking sector are too high.
According to the likely scenarios and throwing huge funds to save the remaining banks and weakening the dollar.
It is more likely that at the end of the working week we will see Euro-Dollar levels close to 1.10.

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