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Asia FX creeps lower, dollar muted as markets brace for Fed rate hike Most Asian currencies retreated in cautious trade on Wednesday as markets positioned for a likely interest rate hike by the Federal Reserve later in the day, although waning fears of a bank crisis made for small losses in regional currencies. The Fed…

Bitcoin passes the bank stress test As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency seems positively hale and hearty, just as a banking meltdown drives markets into the arms of a recession. Bitcoin has risen 21% this month, while a choppy…

Here is what you need to know about the important news between March 20th 2023 and March 24th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…

Asia FX sinks, dollar rises amid Fed uncertainty bank crisis fears Most Asian currencies fell on Monday and the dollar rose as markets hunkered down ahead of a Federal Reserve meeting this week, while fears of a banking crisis kept sentiment on edge despite government measures to assuage market concerns. The Chinese yuan fell 0.2%…

Asia FX rises, dollar dips amid easing bank crisis fears Most Asian currencies rose sharply on Friday amid easing fears of a global banking crisis, while the dollar retreated as markets also bet that the Federal Reserve will soften its hawkish stance to prevent more economic pain. China’s yuan was among the best performers for…

Credit Suisse to borrow up to $54 bln from Swiss National Bank Embattled Swiss lender Credit Suisse Group AG (SIX:CSGN) (NYSE:CS) said on early-Thursday that it will exercise an option to borrow up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under two loan facilities to shore up liquidity conditions. The…

Dollar slumps as markets trim Fed hike expectations on US banks’ fallout The dollar languished near a multi-week low on Tuesday as fears of a broader systemic crisis following the collapse of a U.S. tech-focused lender left traders speculating that the Federal Reserve could pause its aggressive rate-hiking cycle. Market jitters continued to set the…

European stock futures mixed, U.S. regulators move to support financial system European stock markets are expected to open in a cautious manner Monday, with investors digesting the moves by U.S. regulators over the weekend to support their banking system. The U.S. authorities announced over the weekend that they would cover all depositors at Silicon Valley…

HSBC (LON:HSBA) has agreed with the Bank of England to buy the U.K. operations of Silicon Valley Bank (NASDAQ:SIVB), whose collapse last week sent shudders through the U.S. financial system. The Bank had taken control of SVBUK after its U.S. parent fell victim to a run by depositors after reports of heavy losses on its…

Here is what you need to know about the important news between March 13th 2023 and March 17th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…

Asia FX sinks before labour data Most Asian currencies fell on Friday as markets turned cautious ahead of key U.S. labour market data due later in the day, while the Japanese yen fell after the Bank of Japan maintained its ultra-dovish stance. The yen sank 0.4%, sticking close to its lowest levels for the year…

Crypto-focused bank Silvergate plans to wind down following blow from FTX Crypto-focused bank Silvergate Capital (NYSE:SI) Corp said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35% in after-hours trade. The decision to shutter…

Dollar clears 3-month high, yields surge on hawkish Powell The U.S. dollar hit a three-month high against a basket of currencies on Wednesday, tracking a spike in Treasury yields after Federal Reserve Chair Jerome Powell said that interest rates were likely to rise more than market expectations. The dollar index and dollar index futures rose…

Asian markets steady as investors await Fed chair’s testimony Asian financial markets were little changed on Tuesday as investors awaited congressional testimony from Federal Reserve Chair Jerome Powell due to start later in the day for clues on the central bank’s next move on interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan was…

Here is what you need to know about the important news between March 06th 2023 and March 10th, 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key…

Asia FX muted ahead of Powell testimony Most Asian currencies kept to a tight range on Monday as markets awaited more cues on U.S. monetary policy from a testimony by Federal Reserve Chair Jerome Powell, while a weaker-than-expected GDP forecast from China weighed on sentiment. Cues on regional monetary policy are also due this week,…