Soros' statement that a new economic crisis is coming, which Europe will suffer the most, provoked the panic fall of the single European currency. However, we did not see the kickback, which should have occurred after such statements. In the case of statistics, this confirmed the justification for strengthening the dollar. In particular, the growth rate of consumer lending in Europe has slowed from 3.0% to 2.9%, indicating a slowdown in consumer activity and burying hopes for inflation. In turn, the growth rate of housing prices in the US did not slow down, as expected, but remained the same.
Today, the second GDP estimate for the first quarter in the United States comes out, and there are reasons to believe that it will show an even faster acceleration of economic growth than previously thought. If these expectations are confirmed, the euro has a chance to decline to 1.1500. Otherwise, due to the excessive overbought of the dollar, it is worth waiting for the strengthening of the euro to 1.1650.
