The session was almost a blank space for fresh news and data relevant to major FX.

The response to the Credit Suisse CHF 50bn and First Republic Bank $US 30bn lifelines continued though, with AUD, EUR, NZD, GBP, CAD all higher against the US dollar. A US news outlet (Fox) reported that suitors are lining up to possibly purchase US$30bn for First Republic Bank.

Regional equities gained also.

Data was absent, except for Singapore exports for February, these disappointed (see bullets above for more).

Asian equity markets:

  • Japan’s Nikkei 225 +0.75%

  • China’s Shanghai Composite +1.6%

  • Hong Kong’s Hang Seng +1.8%

  • South Korea’s KOSPI +0.9%

  • Australia’s S&P/ASX 200 +0.25%

I posted earlier on the potential triple top in the AUD/USD

audusd triple top wrap 17 March 2023

A trimming of risk exposure might be in order.