{"id":61113,"date":"2023-04-26T10:55:56","date_gmt":"2023-04-26T07:55:56","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=61113"},"modified":"2025-10-17T11:11:39","modified_gmt":"2025-10-17T08:11:39","slug":"us-banking-sector-worries-resurface","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/en\/us-banking-sector-worries-resurface\/","title":{"rendered":"US Banking sector worries resurface"},"content":{"rendered":"\n<p>The USD found support from fresh safe haven inflows yesterday as market worries for the US banking sector were revived after First Republic reported greater-than-expected withdrawals for the first quarter of the year. Also on a fundamental level, US Treasury Secretary Janet Yellen\u2019s warning about a possible default of the US government, intensified the risk-averse market sentiment, yet that may also have been a political move given the wide discussion for the US debt ceiling in Congress. First Republic\u2019s share price plunged reportedly by 49% and the negativity created in the market sentiment caused US stock markets to tumble despite both Alphabet (#GOOG) and Microsoft (#MSFT) having some solid figures in their earnings reports for Q1. We maintain our focus on the tech sector today as Meta (#FB) is to release its earnings reports as is also eBay (#EBAY) and we also note GlaxoSmithKline (#GSK), Glencore and Boeing (#BA). Back in the FX market besides the USD, also JPY tended to receive safe haven inflows, maybe even more than the USD, while BoJ Governor Ueda, seems to keep setting the stage for a rate hike in the future. Commodity currencies AUD and CAD tended to be on the losing side of the market yesterday as they are perceived to be riskier assets, while the Aussie may have been weakened by the slowing inflation metrics for Q1 reported during today\u2019s Asian session, which in turn could solidify RBA\u2019s stance to pause its rate hiking path. Also, we note the widening of New Zealand\u2019s trade deficit, implying that the country\u2019s economy suffered more from its international trading transactions yet the release failed to deter Kiwi traders extensively. In Europe\u2019s monetary front, we note from Sweden, Riksbank\u2019s interest rate decision and the bank is expected to hike rates, while should such a hike also be accompanied by a hawkish statement we may see the Krona gaining. As for commodities, we note the drop in oil prices yesterday, yet the wide drawdown reported by API for the past week, implying that the US oil market was tight, may stabilise black gold\u2019s price somewhat given also the release of the EIA figure later today.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"US Banking sector worries resurface\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/4q-3cgzkDmo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>USD\/JPY edged lower yesterday yet stayed within the boundaries set by the 132.85 (S1) and the 135.15 (R1) levels. Given that the pair\u2019s price action was able to break the upward trendline guiding it since the 5<sup>th<\/sup> of April we switch our bullish outlook in favour of a bias for a sideways motion, while we note that the RSI indicator is nearing the reading of 30, implying some bearish tendencies. Should the selling interest be maintained we may see USD\/JPY breaking the 132.85 (S1) support line which would pave the way for the 130.50 (S2) support barrier. Should the pair find fresh buying orders along its path, we may see USD\/JPY breaking the 135.15 (R1) resistance line and take aim at the 137.55 (R2) resistance hurdle.<\/p>\n\n\n\n<p>AUD\/USD had a steep drop breaking the 0.6630 (R1) support line, now turned to resistance. We tend to maintain a bearish outlook for the pair as it seems to be escaping its past sideways motion downwards and a downward trendline starts to form. Also note, that the RSI indicator is near the reading of 30 underscoring the bearish sentiment of the market, yet also implying that a correction higher and a stabilisation are also possible, given that the pair seems to be nearing oversold levels. Should the bears maintain control over the pair we may see it aiming if not breaking the 0.6565 (S1) support line and should the S1 be broken we set the 0.6490 (S2) as the next possible target for the bears. Should the bulls take over, we may see AUD\/USD reversing course breaking the prementioned downward trendline, the 0.6630 (R1) resistance line and aim for the 0.6700 (R2) level.\u00a0 \u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>During today\u2019s European session, we note Germany\u2019s forward-looking GfK Consumer sentiment for May, France\u2019s consumer confidence for April and UK\u2019s CBI distributive trades for April, while a bit later ECB Vice President De Guindos is scheduled to speak. In the American session, we note the release of the US durable goods orders growth rates for March while oil traders may be more interested in the release of the weekly US EIA Crude oil inventories figure. On the monetary front, we note that BoC is to release its monetary policy deliberations held before its April 12 rate decision.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/04\/image-121.png\" alt=\"support at one hundred and thirty two point eighty five and resistance at one hundred and thirty five point fifteen, direction sideways\" class=\"wp-image-61114\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 132.85 (S1), 130.50 (S2), 127.55 (S3)<\/p>\n\n\n\n<p>Resistance: 135.15 (R1), 137.55 (R2), 140.65 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/04\/image-122.png\" alt=\"support at zero point six five six five and resistance at zero point six six three, direction downwards     \" class=\"wp-image-61115\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6565 (S1), 0.6490 (S2), 0.6400 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6630 (R1), 0.6700 (R2), 0.6760 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1999\" height=\"493\" src=\"\/wp-content\/uploads\/2023\/04\/image-123.png\" alt=\"\" class=\"wp-image-61116\" title=\"benchmark-26-04-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1074\" height=\"612\" src=\"\/wp-content\/uploads\/2023\/04\/image-126.png\" alt=\"\" class=\"wp-image-61119\" title=\"table-26-04-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1543\" height=\"1119\" src=\"\/wp-content\/uploads\/2023\/04\/image-124.png\" alt=\"\" class=\"wp-image-61117\" title=\"morning-releases-26-04-2023\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:reseach_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD found support from fresh safe haven inflows yesterday as market worries for the US banking sector were revived<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-61113","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex blog - IronFX\u2122 | US Banking sector worries resurface<\/title>\n<meta name=\"description\" content=\"The USD found support from fresh safe haven inflows yesterday as market worries for the US banking sector were revived\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/en\/wp-json\/wp\/v2\/posts\/61113\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Banking sector worries resurface\" \/>\n<meta property=\"og:description\" content=\"The USD found support from fresh safe haven inflows yesterday as market worries for the US banking sector were revived\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/en\/us-banking-sector-worries-resurface\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-26T07:55:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-17T08:11:39+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"US Banking sector worries resurface\",\"datePublished\":\"2023-04-26T07:55:56+00:00\",\"dateModified\":\"2025-10-17T08:11:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/\"},\"wordCount\":841,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/\",\"name\":\"Forex blog - IronFX\u2122 | US Banking sector worries resurface\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\"},\"datePublished\":\"2023-04-26T07:55:56+00:00\",\"dateModified\":\"2025-10-17T08:11:39+00:00\",\"description\":\"The USD found support from fresh safe haven inflows yesterday as market worries for the US banking sector were revived\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/us-banking-sector-worries-resurface\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"US Banking sector worries resurface\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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