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Market Analysis

March, 2023

  • 20 March 2023 11:27 am

    Gold is trying to climb as concerns about the banking sector return

    Gold prices regained some gains on Monday, erasing part of earlier losses, as concerns about the global banking sector returned to the fore, despite UBS’ rescue efforts to acquire rival Credit Suisse to stabilize financial markets more broadly. . Spot gold rose 0.1% to $1,988.89 an ounce by 0624 GMT, …

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  • 20 March 2023 10:48 am

    Asian stocks drop as bank crisis fears offset liquidity support

    Most Asian stocks fell on Monday as emergency liquidity measures and bank consolidations in U.S. and Europe did little to stem fears of a potential banking crisis, with markets now awaiting more cues on monetary policy from a Federal Reserve meeting this week. Bank-heavy indexes once again saw steep losses, …

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  • 20 March 2023 6:35 am

    UBS’s takeover of Credit Suisse: What you need to know

    In an emergency rescue agreement intended to quell the fear that the bankruptcy of two American banks earlier this month had sparked on the financial markets, Switzerland’s largest bank, UBS, has agreed to purchase its struggling rival Credit Suisse. “UBS today announced the takeover of Credit Suisse,” the Swiss National …

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  • 20 March 2023 5:54 am

    Financial Markets’ Weekly Recap, March 13-17

    Wall Street finished lower on Friday, capping off a turbulent week marked by an evolving banking crisis and the gathering storm clouds of a possible recession. All three indexes finished the session in the red, with financial stocks falling the most of the S&P 500’s major sectors. All three indexes …

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  • 18 March 2023 2:02 am

    Market Drivers – US Session 16/03/2023

    The USD/CAD pair finished the week lower around 1.3700 but far from the bottom. Next week, the key report from the Canadian economy will be February’s Consumer Price Index (CPI) on Tuesday. The kiwi was among the biggest gainers despite weak New Zealand Q4 GDP data. TheAUD/USD had the best …

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  • 18 March 2023 1:47 am

    Gold Approaching $2000 Threshold on Friday

    Gold price surged further to the upside during the US, breaking above $1,988.50 per ounce at the time of writing. Late on Friday, the Gold Index XAU/USD stands at the highest level since April 2022 and on its way to the third-highest weekly close on record.From the level it had …

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  • 18 March 2023 1:34 am

    Dow loses 400 points on Friday as First Republic, other banks resume slide

    Due to continuing worries about the condition of the US banking sector, investors reduced their holdings of First Republic and other bank shares on Friday, causing a decline in US stocks.First Republic dropped by almost 33% to finish the week down by almost 72%. That represented a change from the …

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  • 18 March 2023 12:07 am

    What do Friday’s Indexes Readings Tell About US Economy?

    Getting prepared for hard times seemed to be a popular theme among Americans. As bank woes hit the news headlines, clients have started to signal more urgent concerns. A lot of it is post-traumatic stress recalling the bad memories of the global financial crisis in 2008. But the numbers today, …

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  • 17 March 2023 10:41 pm

    Bitcoin witnesses best week in five years

    At the time of writing, the price of one bitcoin is $26495. Bitcoin is on track for one of its largest weekly rises in recent memory, supported by bets on future interest rate reductions as the token weathers the financial sector’s turbulence.Since Monday, the biggest digital asset has increased by …

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  • 17 March 2023 8:51 pm

    Crude oil modestly bounces from fresh 2023 lows

    WTI crude oil modestly bounced after posting a fresh 2023 low of $65.22 a barrel. West Texas Intermediate fell to $65.22 per barrel on Friday, its lowest since November 2022. It currently trades at around $67.30 a barrel, breaking lower amid financial turmoil weighing on the market mood. At the …

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  • 17 March 2023 7:52 pm

    Gold has surpassed $1,960 for the first time since April 2022

    Gold is trading at $1959.26 at the time of writing. Earlier on the day, gold price surged further on Friday reaching the highest level in eleven months, rising above $1,960 per ounce. The Gold Index XAU/USD is rising by more than $40, adding to weekly gains.Risk aversion amid the banking …

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  • 17 March 2023 5:33 pm

    US UoM Consumer Confidence Index drops to 63.4 in March

    Consumer sentiment in the US weakened in early March with the University of Michigan’s (UoM) Consumer Confidence Index declining to 63.4 from 67 in February. This reading came in worse than the market expectation of 67. “Year-ahead inflation expectations receded from 4.1% in February to 3.8%, the lowest reading since …

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  • 17 March 2023 4:54 pm

    SVB Financial seeks bankruptcy protection for reorganization

    SVB Financial Group filed for a court-supervised restructuring under Chapter 11 bankruptcy protection on Friday to seek purchasers for its assets, only days after its former affiliate Silicon Valley Bank was taken over by US regulators. The decision to seek bankruptcy protection comes after the company announced on March 13 …

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