US Fed to take a less hawkish stance on interest rates


The dollar ended the week lower against a basket of currencies as investors placed bets that the Federal Reserve will adopt a less hawkish stance following weaker data and last week’s collapse of two mid-sized banks.

Focus on Friday turned to the March release of the Michigan Consumer Sentiment Index which showed a deterioration for the first time in four months. Overall the index came in at 63.4 down from an expectation of 67. It’s worth noting that the survey for Consumer Sentiment was mainly collated prior to the recent banking crisis in the US. Therefore, sentiment could take another hit at its next release.

Key announcements

14:00 – EUR – ECB President Lagarde Speech