Oil majors drop🛢️ Banking sector worries 🏦 EURUSD breakout trade📈 ECB rate hike 🇪🇺

FlowBank's hand-curated fresh financial news [header_noDither] 16.03.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. New: See our [LinkedIn](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgNqTW700Qdh2bKdqfW245Y2H3Pfn2wW3lMXlt1g7J3sW2lw3n07YhC-wW6tTMVx92YP6KW5h_B0j5TnZZ6W3LYZPq6fc7ggW2lkSwy7HFdsCW1RPGWr6S_R0bW25S0H25YHvV6W1gbDZG2RxK2vVYTqp_80J7BwW7X9VfG4YjjnNW10mFf71McSvMW3FSxvg1dk8rPVnBQlv6DWtZ3W5bqW2q90xCX4N9f3MDNgmV1v34M01) and [Instagram](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPt2-MJwV1-WJV7CgZF-W79N1M26gTcDFW93RXGp2G19ylW9f-gp210_zgDW5pMK4V3qbyMbW5SKch27wRC6SW7Ylpy26YWsgcW5hPKWs4b-Kh4VqBNS22H8Mh_W6t2Y-16zYBkjW6JDx6w2bThjXW56VHrZ16VVzNW8sYCf_3FpQr-W11_Lth6-zzjGV-1YPT3jJ4WkW3D7Jdy97VBnZN95gWYxc7rHx39d51) highlights below The Big Story [MIT-Oil-Well-Cement] Major energy stocks fell sharply yesterday, tracking oil prices lower. Oil fell to its lowest level this year, below $70, amid fears of bank failures sparking a second financial crisis that could weigh on oil demand. Rising US crude oil inventories added to the bearish picture. EIA stockpiles rose by 1.6 million barrels, well ahead of the 1.2 million forecasts. Given the current uncertainty in the market, oil prices could stay weak for the time being. Softer oil prices don't bode well for oil majors, with Halliburton, Marathon Oil, and Devon Energy falling over 8% each on Tuesday, dominating the S&P 500 loser board. [Start Trading](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqQ32-MK5V1-WJV7CgW4fW4vBcF_5Fv0Q7N7F8msm8w3_5W3vY3hg5jbCZdW7v_6N56VpqQpW1_2khP6jN_XdVLFvzM3ZSjdZV2GyXz2tpBj9W8PPd4d6PrJwfW7jqCCT508SqTW4m9PnP98bz0VW6RMnR02mh8NtVBqmbK22B4BfW92nXgg8vG7bhW26ktS089-9HyW1MCzss8jrTKdN90fLWN9PTm2N5xjbkrv0CT3VMnbnF2-8n5wW66cR_v5Fjr27W6RbsZd7Q0Q7m35hF1) Trader's Corner In focus • EUR/USD trades caught between its 50 & 100 DMA. For a break-out trade, sellers could look for a break below the 100 DMA at 1.0560 and the March low of 1.0515 for further losses. Buyers could look for a rise above 1.0760 to create a higher high towards 1.0860 and 1.0930 the January high. • The Dow Jones found support at 31425. The long lower wick on the candle suggests that there was little demand at this level. Still a close below the 200 MA and an RSI below 50 suggests that there could be more downside to come. Sellers will look for a move below 31425 to extend the selloff. Buyers need a close above the 200 DMA at 32350. Economic data • Aus. unemployment • US jobless claims • ECB rate decision Earnings • Enel, FedEx • Dollar General • Rentokil [Start Trading](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqQ32-MK5V1-WJV7CgSZGW4SqDsK7W411KN1JPBxrl0XGlW5sxtwp7vdZThW2sqQL76-Mq7MW8cXLJf4hqX0HW65LrGy2WhHjfW8845w76ygrDVW7kKtKf3XLyY1W2Q4ySj5cGMWjW6qmP1C7G3bWyW24KzVr30SP_8W5fz9Gn5Xw67xW2g4Wxx6dhmTcW3_15lf2kvMgpW54J15c1lbD8TW3lP0DC84fY7BW30Hf0T8fpY9RW53G_D23vkk7mW8CF69Z8gFDL8W51-Ry35dTLcR3dKZ1) Market Recap European stocks were hammered yesterday as the banking rout continued, and Europe became the new focus of the SVB fallout. The FTSE was hardest hit, closing 3.8% lower. Credit Suisse closed at a record low, down 25%. EUR/USD tumbled to just above 1.05. Wall Street closed mixed after the slump in Credit Suisse ensured that banking stocks remained out of favour. However, the Swiss National Bank helped to ease concerns, pledging liquidly to CS if needed. Stocks close well above the lows, and the Nasdaq even booked a positive finish. This morning stocks are heading higher as CS is to borrow up to 50 billion Swiss francs from the SNB and as investors look ahead to the ECB rate decision and fret over what another big interest rate hike could do to Europe's large lenders. Chart Of the Day The USD rebounded in light of still very attractive yields versus the Swiss franc or the euro. The USDCHF had a strong bounce off its support at around 0.91. We highlighted this pair a few days ago. It continued to rally yesterday after our brief, reaching the mentioned 0.93. [USDCHF 15032023](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgHBpW25tNxb2WCf1ZV2KPDt7CVJTnW4QDcGd54db_qV3cCJj4fsx6yW6GB8LH1DbS_BN5R0jQfVjBmMVWzv9Y63Nq7PW3t9B2W1QYHStW5sgT2Q6NlRxbW3_-nfT7y2bB6W6Cy4_k6vGd3kW236n0p8w5vG0W4VCTrq1mv7ZPW72xXRl4LylHBW7W2TVb8_c1ZRW12PY-w8xbMlfW792HhD7g1Cb6W1cTBRw6FnFK53fjM1) [LINKEDIN](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgQJwW9dLJSP2M2qj0W36NZbq3l-WsMW5DwBZf6xN7g4V_qXmV4BPXRjW79NpG-6vbP4DW1bzgl21J7pThN964qMD9dmrzW73Z8bm5gyYzLW3YS-lJ8b4yswVMwWx85xVZzZN8VQGGhbDfw8W33bwMB1kJMJKVSVs5H79fR7hW8TLP6H5ys4GsW30W9x65mYM3xW12YGp_1Fg97VMj5d4l_x8gQW38Lqd78T31fT3d5H1)Highlights Top 10 Largest Renewable Energy Companies 🔋 McKinsey forecasts that by 2035, renewables will generate 60 percent of the world's electricity❗ Is renewable energy an interesting sector to invest in? ⁣ Click [here](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgKBdW5cM6QY8b7-M5W2r03hY8skRm_N4zlVgHLrCpmW777qcd1144qXW3FjV-R8CBJqKV3w-XC8zmvbfW2j-PWk37xlk0W1VbfxW4-Sk8lW5sSzfH53kNpBW6gnW2X8LpqTrW4fLYLm6MM4ZjW915rvg2DCsGkW1vfvSq12PPdcW515zxN2B1xHwW8bsw2V88RsWxW23pTFf7N8NcnW4_DN4h4gvFymW65wpBQ4rT9mM3mxN1)to read more. [Renewables infographic](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgCn0W2pkbZh7nPS4zW3C-QkK8RJ7SYW5G7mkz1WmCmhW7b-9802r4dBXW2hpYnt2Yyr7DW7KF5Zk2mPjhCW4tkmRC3sDHy4N9hXkcpvg-FmW94XfFw6YyQh2W5r2ld93mkRVcW61hqYf2s5HCZW3RdyNH3nsVWpW1gg0Jk958PxNW59_P5B55yhdbN4tZ0Rg92MX9W2x4Wws8QH5mmW24dTFn4mHnq2W6t18Yb5lpjHC3bgD1) Will the Fed be patient considering the banking stress❓ [LinkedIn](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgRNhN77XjK9Gcy0fW97p0fv3vy8KgW3trlcP2FgHv0W4SW65Y7CFlznVnWGL_5WThk0W7QYqj26SsgswW40xY914p-89RW5Hsj7g7WYK6-W7RZGsq36z1scW9fThBF6zTs69W1NkWMP1t6Cy2W7PsYdZ7pPJjLW6tBRkX1KfRwCN2VbyZrYMdgRN9gk3FjtnNrbF88VXBh5cRDN8Z-qcJ6xbzyVKZc5n7pBKW638Qt1) poll: Is the Fed nearing the end of its hiking cycle? [Vote here, we want to hear from you!](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqQm2-MKpV1-WJV7CgS8LVV8ljx4gJBhmW34d40915cHgPW3-Tdpz32yNBVW1fTGzZ5qkds7W2dSbn53YdBvvW3PJWbN8WnSKNW4lttSP1QfFM7N8srxZpdBD-JW31Ktd_7txPfFW6FNm-n44QqkkW5X9PQV8dZKy9W96nMSN3RWpFdN2SCLVz15Fk7W4XV1Bj7McM-xN1CrXJSQNhsZW1yHr-643HnDVN3BFVXPj-QHmW2xGtxY9m29F5W8gScZW8VGJhHVNtpL92QhSdpN3Wj-H-5rWqRN4GSlZnZYcVW39sx1) Poll of last week ([here](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN6XSK9V5X_Kf7CgTv5F16Qknkw179W4H3BG02_f5PLW82x1Mn4tjVxGW1QgLgb8kr4Z3W2g7TTb7Q8MwBW9k3TmF1q9pn_W2-CYND6kG9mcW3TVF9p5Mw4G4W9bBLG65dmVSjW1bBc_c5PQZ-YW6SPsS443hFPgVSg2dV8pZzFpW4rJgnd954VbBW6y-Vql7n3dMpVhL9WF8nVcJHW4hqM8r1-fgJ5W1MXCsY7KfZ6rW7ys_S18cHZRzW1f8bwF4l_z9CW1Xd6wd23K-gxW7G5NLS35VmdnW9fXLM92m64x-W2ysBT68Jv9Q5W9bYXKk1xLhKpVyJbn28JDYclN42h0jk3lVSMW2jBml18FC6QVW7l3WMm4xcLZ0W8m9Vl15dfdQTW2XF-lS7YwSFcW6X0mSR2ZBxkCW20bWdB7yjHHXW1GvtMy6XtbvJW1r6K-650xmWJW1_YDpW261V24W5rcFXJ55NkBKW88B_Tx8hRbM0W5jWQqT3WJ4FrW8FtTn37jPG9yW4Gd45h8HBb1rW6DqG6w6tCXhdW5k9LRC2mbbVyW3_ZXhn5nN3kcW5zlz3l95FvbDW7C-nDB1CcDlLW7H4mst7s3mH_W43g12j88MrGyW2GqdPB6_fztYVj7Cn_2m2kDbN8ZBsXrVMd8236xd1)): The % of mutual funds led by women. [INSTAGRAM](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPt2-MJwV1-WJV7CgMz5N2Kv-Q550mVwW7C1HK35BCxjgN6d2sN5kPgPXW46nHVH7thjsTW1_9dDF7V5y7LVn6yTm6__zj9W4ygPBr2h8Bp-W8vcNlH2HTC4rW5hTTdd81mW6dW3p0GJd3NMqd9W8bNllf6hJ2j-W1sxs4S9k5y0XW2JBS4w5pptK4W10fm0b5YlyzFW1_GDGj4Lxsr_W6PFGW71RpMrv3d6w1)Highlights 6 Inspirational Women Leaders 🎉 They have changed perspectives in their fields, and on women in general. ⁣ Click [here](113/cXx8Z04/MVW3pbH6kfpVTDwcD6QG3m2VfQRxk4Ybg3FKqPN2-MJQV1-WJV7CgBwxW2HMJHt9bkSXCW4yHr0S8dCkttW55NgqY7hZ40RW7ZY0TC3460gpW452vh25Rt098W2SxKgN2__qWxW2vzN_Z9hdX4BW8QxfbR6wcFfSVxV8sD51kB8dW2Pv3357Tfg1VW6Rnvp77yfPq8W1XF_vj5pgS0XW5sKZcK90rwFLW6n-Lv-2HtjtFN7D62rY3Pv4TW1bbNTR83YsN2W7mPtFs4d_B31MyLVlGq0qKh32Rt1)to see the carousel. 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