Currencies

Watch today’s US Open for commentary on the takeover of Credit Suisse by UBS and how the banking turmoil has affected market expectations for the Fed’s policy decision, due on Wednesday

The pair comes under pressure today, as markets are on edge ahead of the monetary policy decision by the US Fed (Wednesday) and the Bank of England (Thursday)

The pair retreats as the accounts of the last policy decision revealed that RBA policy makers will consider pausing the hike cycle, as markets now brace for the US Fed policy update on Wednesday

UBS agreed to buy troubled Credit Suisse as authorities strive to safeguard the financial system, but markets are on edge ahead of the US Fed, sending flows to the Japanese Yen

Watch today’s US Open for the initial reactions to the ECB’s 0.5% rate hike, commentary on the latest developments around Credit Suisse

Watch today’s US Open for commentary on the latest US CPI Inflation report, the collapse of the Silicon Valley Bank and more

USDOLLAR’s correlation coefficient with the real rate is 66%. As long as yields decline and markets reassess the Fed’s actions for March, the dollar is likely to be influenced to a large degree.

The Bank of Japan did not ruffle any feathers in mr Kuroda’s last policy meeting, helping the pair, but markets now brace for the highly anticipated US employment report

Watch today’s US Open for insights on Fed Chair Powell’s testimony, its impact on market pricing around the central bank’s policy path and more

The Bank of Canada kept rates at 4.5%. This was in line with market expectations and its previous communication. By the middle of the year, the BoC expects inflation to moderate to 3%. It will continue to monitor the economy and is prepared to increase rates if needed.

A break below will be because of greenback strength as opposed to a deterioration in the euro. Rather, the ECB continues with its own hawkish rhetoric and the ECB will hike by 50 bps next Thursday. However, it’s all about greenback strength at the moment and data out of the United States