Ed Moya, Senior Market Analyst At OANDA, joins us to discuss the continued volatility in the banking sector, along with the safe-haven pop in Bitcoin and Gold, and then the further drop in oil and nat gas. We start off discussing the news that broke over the weekend of UBS Group AG (NYSE: UBS), agreeing to takeover Credit Suisse Group (NYSE: CS) , with additional liquidity provided by the Swiss National Bank. We also review the further hit to deposits and liquidity at some of the more smaller and regional banks, like First Republic Bank (NYSE: FRC) whose shares fell 25.8% after ratings cut by S&P Global.
We also highlighted the market reactions to all this volatility, where the US Dollar is down but most market sectors are up, along with some flights to safety in gold, bitcoin, and crypto assets. We wrap up reviewing the continued pullback in the energy sector in both oil and natural gas. Ed provides some of the key technical price levels he’s watching in all these sectors, and what fundamental news to be watching from the Fed meeting later this week.
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