The general index of the US dollar records declines by about 0.35% this morning, Thursday, January 16th, in the middle of the European session, and is trading at 104.40 levels, after it rose by more than 1.40% yesterday, Wednesday, benefiting from the decline in risk appetite in the markets and the high demand for safe havens, led by the US dollar and gold.

and the Japanese yen. Credit Suisse Bank was subjected to some pressures, and the strong declines in stocks in the markets raised the demand for safe havens before the Swiss National Bank intervened and supported Credit Suisse with about 50 billion francs, which returned the markets to normal.

During this period, the US dollar is affected by the market’s high expectations that the US Federal Reserve will be less stringent than it was previously expected before the banking crisis, as expectations of raising interest rates rose by 25 basis points, according to futures forecasts by the FEDWatch tool from CME, the March meeting, by about 69% compared to expectations that were We agreed to raise interest rates by 50 basis points, by more than 70% last week, while expectations for a peak in interest rates fell below 5%, after it was higher than 5.5%, which reflects negatively on the movements of the US dollar.

The slowdown in inflation in February, according to figures released last week, and the decline in the producer price index, the side that complements inflation prices, yesterday, Tuesday, all support the hypothesis of less tightening from the US Federal Reserve, and it may even move to cut interest rates before the end of the year.

The markets are awaiting the meeting of the European Central Bank today, Thursday, to discuss developments in monetary policy and interest rates, as the bank is expected to raise interest rates by 50 basis points, to reach 3.5%.

Before the Credit Suisse crisis yesterday, Wednesday, and the Silicon Valley crisis last week, the markets were absolutely sure of the European Central’s move by 50 basis points in today’s meeting, followed by 50 basis points in the next meeting, but with these developments, the market’s expectations declined even for today’s meeting, and the expectations of a hike increased by 25%. basis point.

In addition to the interest statement and the press conference of the bank’s president, Christine Lagarde, the markets are anticipating the bank’s quarterly forecasts for growth, inflation and interest expectations