PREVIOUS TRADING DAY EVENTS 24 March 2023

Announcements  

U.S. Secretary of the Treasury Janet L. Yellen called an FSOC Council Meeting after the bankingsector Turmoil. The Federal Reserve Bank of New York presented to the Council current market developments.  The Council recognised the apparent stress in the economy but noted that the U.S. banking system remains sound and resilient. The regulators are obviously seeking to stabilise the markets and calm the depositors.
Source httpshome.treasury.govnews
According to the latest U.S. PMI data for both Manufacturing and Services the U.S. companies show expansion in business activity in March with growing output as demand kicked in. The flash U.S. Composite PMI Output Index of SP Global , which tracks the manufacturing and services sectors, increased to 53.3 this month. Good news also for the Eurozone since the latest flash PMI survey data indicate economic growth, signalling economic revival from the recent yearly downfall. There is positive sentiment for the U.K. as well, as the private sector growth was maintained according to PMIs March data, led by the service economy.Source httpswww.bloomberg.comnews
Source httpsbdswiss.comeconomiccalendar
US Crude Oil has been experiencing rising prices the previous week as a result of various factors, including the U.S. governments promises to protect the bank depositors, U.S. announcements attempting to calm the markets and Russias announcement to proceed with oil production…