Morning Briefing 21 Mar 2023: Oil Rises Amid Banking Crisis

DCFX · 21 Mar 2023 17.2K Views

Asia-Pacific markets rose following a rally on Wall Street on hopes the banking crisis may be easing, following UBS's $3.2 billion takeover of Swiss bank Credit Suisse.

US index futures were slightly higher on hopes that banking turmoil will be under control.

Calendar:


EURUSD

Euro rose amid risk-on sentiment by the government's efforts to shore up confidence in the global banking sector.

Trend →

Support : 1.0630

Resistance : 1.0755

 

GBPUSD

Sterling rose to near its highest in more than 6 weeks as worries over the banking crisis eased.

Trend  →

Support 1.2200

Resistance 1.2350


AUDUSD

Aussie dollar rose slightly on hopes of an improvement in the market sentiment after falling energy prices.

Trend ↓

Support : 0.6575

Resistance : 0.6780

USDJPY

Yen continues to strengthen against the US dollar on the anticipation of a policy change by the new BoJ governor.

Trend  ↓

Support 130.50

Resistance 132.50



XAUUSD

Gold dropped from its highest level in a year due to the risk-on sentiment in the market and rising US bond yields.

Trend ↑ 

Support : 1960.00

Resistance : 2010.00



Crude Oil (WTI)

Oil prices rose on hopes UBS' takeover of Credit Suisse would avert a wider banking crisis and as investors consider a possible pause in interest rate hikes from the Federal Reserve this week.

Trend  ↓

Support 62.50

Resistance 70.50



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