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Fed representatives are expected to speak today on the situation in the banking sector - 29.3.2023

Fed representatives are expected to speak today on the situation in the banking sector
Mary Wild
Mary Wild
Senior Analytical Expert
Articles:231

Todays’ Market Summary

  • On Tuesday, the US dollar index continued its sluggish decline.
  • Yesterday, US stock indices fell slightly for the 2nd day in a row.
  • Yesterday, US stock indices fell slightly for the 2nd day in a row.
  • Precious metals rose yesterday due to declining dollar risk and the US banking crisis.

Top daily news

On Tuesday, the quotes of the US dollar and stock indices fell due to the risks of a banking crisis in the US. Fed Vice Chair of Supervision Michael Barr is expected to speak in the US Congress today, which may calm investors. Oil has risen in price due to several factors at once

Forex news

Currency PairChange
EURUSD -0.09%
GBPUSD +0.86%
USDJPY -0.15%

On Tuesday, the US dollar index continued its sluggish decline. This happened despite good statistics. Conference Board United States Consumer Confidence Index in March (104.2) was better than expected. Accordingly, this morning the US currency is slightly strengthening. In general, in the last few days, the main negative for the dollar was the problems of some US banks. Now the situation is gradually improving thanks to the support of the American authorities. The GfK Germany Consumer Climate for April (-29.5) was released this morning. It turned out to be negative for the 17th month in a row. This could have a negative impact on the euro.

Bitcoin quotes have been trading in a neutral range just above $28,000 for the 2nd week. It's going up this morning. Players reacted positively to the first results of the study of U.S. Commodity Futures Trading Commission (CFTC) activity of the Binance crypto exchange. Ripple (XRPUSD) quotes soared by 12%. The players hope for a successful investigation of the activities of the organizers of this altcoin by the U.S. Securities Exchange Commission (SEC).

Stock Market news

IndicesChange
DJI -0.12%
SP500 -0.16%
Nd100 -0.45%
USDIDX +0.19%

Yesterday, US stock indices fell slightly for the 2nd day in a row. The main reason for this was the risks of a banking crisis in the US. On Tuesday, a good growth of 1.4% showed the sectoral index Dow Jones Oil & Gas. This was due to the emerging increase in world oil prices. Futures for US stock indices are rising this morning. Investors expect the Fed to continue positive statements about the situation in the banking sector after the actual bankruptcy of Silicon Valley Bank and Signature Bank. In particular, Fed Vice Chair of Supervision Michael Barr is expected to speak in the US Congress today. In addition, the data on the housing market Pending home sales for February may affect the stock market.

Commodity Market news

CommoditiesChange
OIL +0.82%
#C-BRENT +0.47%
#C-NATGAS +1.07%
#C-COPPER -0.53%

Yesterday, US stock indices fell slightly for the 2nd day in a row. The main reason for this was the risks of a banking crisis in the US. On Tuesday, a good growth of 1.4% showed the sectoral index Dow Jones Oil & Gas. This was due to the emerging increase in world oil prices. Futures for US stock indices are rising this morning. Investors expect the Fed to continue positive statements about the situation in the banking sector after the actual bankruptcy of Silicon Valley Bank and Signature Bank. In particular, Fed Vice Chair of Supervision Michael Barr is expected to speak in the US Congress today. In addition, the data on the housing market Pending home sales for February may affect the stock market

Gold Market News

MetalsChange
XAUUSD -0.53%
XAGUSD -0.48%

Precious metals rose yesterday due to declining dollar risk and the US banking crisis. Now gold is depreciating in anticipation of the sporting performance of the Fed representatives. The yield on 10-year US Treasury bonds rose to 3.56% per annum from 3.3% on Friday.

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