Good Morning Traders! It is Friday the 17th of March, giving us a quiet day on paper, bar Eurozone CPI towards the tail-end.
Here are some thing to look out for ahead of today.
Investors watched for a potential response from OPEC and its allies to the fall as oil headed for the worst weekly loss this year as banking turmoil reverberated through global markets.
This week, the effects of central bank interest rate increases became more apparent.
In the most recent week, banks borrowed a total of $164.8 billion from two Fed backup facilities, a hint of heightened funding pressures in the wake of Silicon Valley Bank's failure.
The difficulties faced by Credit Suisse are unrelated to the US economy in the eyes of the Biden administration and Congress.
US authorities sought to reaffirm the message that the sector is on solid ground and unified in its efforts by claiming that a pact by the country's largest lenders to deposit $30 billion with First Republic Bank highlighted the resiliency of the nation's banking system.
06:00 AM ET
Eurozone CPI MoM Final
Median Forecast 0.8% | Prior -0.2% | Range 0.8%/0.8%
Eurozone CPI YoY Final
Median Forecast 8.5% | Prior 8.5% | Range 8.6%/8.5%
Good Luck Today Traders!