"The euro zone banking sector remains in reasonably solid shape," said Wells Fargo international economist Nick Bennenbroek. "Markets have woken up to the damage caused by that approach - a recession foretold - and are starting to price it in. "The Federal Reserve's monetary policy meeting next week now moves to centre stage. Some investors are hoping that the Fed could slow down on its aggressive rate-hike campaign in a bid to ease the stress on the financial sector. "The turmoil in the banking sector is complicating the outlook for Fed policy, but the impact may be more nuanced than the Fed simply reversing course," said Philip Marey, senior U.S. strategist at Rabobank.The U.S. dollar index slipped 0.12% to 104.27.

Source: Economic Times March 17, 2023 05:13 UTC