Market Recap: All You Need to Know to Start Your Week

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DIFX Buzz: Here’s a weekly market recap for you to start your Monday with the top news of the week.

Let’s see what happened in markets this week:


❖The Japanese Yen has gained around 4% in March as instability overshadowed the banking sector, spurring inflows to the safe haven. 

 The Fed raised 25 basis points last week Wednesday which resulted in a small gain in the Dollar.

 There is a 55% chance that the Fed leaves rates unchanged at the next meeting and rate cuts are being priced in for July.


❖ Twitter had its source code leaked to GitHub according to a recent court filing. The code was taken down last week Friday.

❖ First Citizens purchases SVB for around $500mn in stock.

❖ First Citizen has a deal with the regulators to share losses to stem further credit losses.

❖ Since the collapse of SVB, depositors in the US have grown wary of smaller regional banks and have begun withdrawing funds.

❖ Bitcoin has seen resistance at $28,000 but failed to see a major selloff even as the Fed hiked 25 basis points which indicates strength.

❖ Saudi Aramco reaches a $12.2bn deal to build an oil refinery and petrochemical project in China.

❖ Gold slides 1% on Monday as there is a slightly more positive sentiment over the banking crisis.

❖ The lack of supply and increase in demand for Copper has resulted in higher prices for the metal.

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