The euro rose against the dollar, hovering around 1.06, as investors wait to see how the latest financial turbulence affects the ECB's policy decision. The Swiss currency strengthened as a result of news that Credit Suisse will borrow up to 50 billion Swiss francs under a covered loan facility with the Swiss National Bank.
According to persons familiar with the matter, the Treasury Department is actively scrutinizing the US financial sector's exposure to Credit Suisse after the bank's stock had its largest one-day decline on record.
According to persons familiar with the situation, First Republic Bank, the San Francisco-based lender that was downgraded to junk status by S&P Global Ratings and Fitch Ratings on Wednesday, is considering strategic options, including a sale. Asian bank stocks fell, resuming a selloff prompted by fears about Credit Suisse's health and the abrupt collapse of Silicon Valley Bank.
According to persons who are familiar with the matter, Santander Consumer USA delayed the sale of $942 million in bonds backed by subprime auto loans on Wednesday as the Credit Suisse crisis worsened.
UK OBR Briefs on Budget
ECB Interest Rate
Forecast is for a 50 BPS hike to 3.5%
ECB Deposit Rate
Forecast is for a 50 BPS hike to 3%
ECB Press Conference with ECB's President Lagarde
Good luck traders, and have a wonderful session!