In the Asian session on Saturday (May 6), the latest price of EUR/USD was 1.1017, and the opening price was 1.1017. Analysts pointed out that banks in the euro area are better than their American peers in terms of capital adequacy, business model and consistency of regulatory standards, but the banking crisis is far from over, and the European banking industry still faces many challenges.
European Central Bank Vice President Luis de Guindos once again defended the resilience of the European banking industry on Thursday, saying that capital levels, liquidity and the quality of liquid assets determine that European banks are more resilient. But he also said there was no room for complacency among European banks, as bank runs could be caught off guard. Experts pointed out that, like American banks, the assets purchased by European banks during the period of ultra-low interest rates also had huge book losses when interest rates soared. Given that the ECB is still raising rates, the likelihood of interest rate risk for European banks remains high.
EUR/USD resumed its rally, climbing above 1.1000 after briefly falling above 1.0950 as early reaction to an upbeat April jobs report from the US. A positive turn in risk sentiment ahead of the weekend weighed on the greenback and helped it move higher.
