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Saturday, March 25, 2023

The super dollar rises for the second day, in a new episode of the financial crisis

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He super dollar goes up This Tuesday, March 15, it rises for the second consecutive round, while the pound sterling falls awaiting news on the budget and the euro imitates it awaiting the meeting of the European Central Bank on Thursday. In addition, they are still attentive to the news on the development of the financial crisis unleashed by the collapse of the Silicon Valley Bank (SVB).

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He dollar rises 1.1% to 104,355 after the effects of the financial crisis stabilized on Tuesday, which was reactivated this Wednesday morning. In parallel, investors reduced bets on a drop in rates in the United States.

The pound sterling It was down 0.7% at $1.2065, stabilizing at 87 pence against the euro. The British Chancellor of Finance, jeremy huntwill deliver a speech on the budget before Parliament this afternoon. Hunt is expected to announce how he will try to prop up the world’s sixth-largest economy.

Find out more – I followed the price of the blue dollar, official, CCL and MEP in Argentina

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He euro reaches a monthly high of $1.0760 before fall 1.5% again and operate at $1.0576, waiting for the ECB meeting.

The markets are valuing at 90% the possibility of a 50 basis point rise in euro zone ratesa bigger rise than what traders are expecting from the US Federal Reserve next week.

The dollar falls 0.8% to 133.07 yen, despite the fact that wage negotiations in Japan posted the biggest pay rises in a quarter of a century, which is likely to put pressure on the country’s monetary policy.

Bank stocks were bouncing off the wheel opening, but turned around and four banks had to delist. The bonds and interest rate futures they have given up some of the huge profits they made after the failure of three US banks in a matter of days.

Interest rate futures now imply a 80% probability of a 25 basis point rate hike in the United States. A week ago, markets were giving a similar probability of a 50 basis point rise, but earlier this week, fears of the crisis had traders giving a 50% probability.

Source: Ambito

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