USD/CAD drops the most in a month as SVB, Fed concerns weigh on US Dollar, favor Oil price

USD/CAD drops the most in a month as SVB, Fed concerns weigh on US Dollar, favor Oil price – by anilpanchal7 USDCAD RiskAppetite BOC Fed Inflation

improved as the US Treasury Department, Federal Reserve and the Federal Deposit Insurance Corporation took joint actions to tame the risks emanating from the Silicon Valley Bank and Signature Bank during the weekend. “All depositors of Silicon Valley Bank and Signature Bank will be fully protected,” said the authorities in a statement released afterward.

Alternatively, China’s dislike for the US interference in Taiwan matters and the better-than-expected US Nonfarm Payrolls join the Bank of Canada’s dovish play to weigh on the Loonie prices.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposureThe U.S. cryptocurrency firm Circle's USD Coin lost its dollar peg and fell to a record low Saturday morning.
Read more »

Fed to hold emergency meeting on Monday amid SVB's swift collapse By Investing.com*FED TO HOLD EMERGENCY MEETING ON MONDAY AMID SVB'S SWIFT COLLAPSE -
Read more »

Fed and FDIC discussing backstop to make SVB depositors whole and stem contagion fears: SourceFinancial regulators are discussing two different facilities to manage the fallout from the closure of Silicon Valley Bank.
Read more »

Fed and FDIC discussing backstop to make SVB depositors whole and stem contagion fears: SourceFinancial regulators are discussing two different facilities to manage the fallout from the closure of Silicon Valley Bank if no buyer materializes, according to a source close to the situation.
Read more »

Treasury, Fed and FDIC joint statement on SVB and Signature Bank: full text'All depositors of this institution will be made whole ... no losses will be borne by the taxpayer': Read Sunday's full statement from the Treasury, Federal Reserve and Federal Deposit Insurance Corp.
Read more »

SVB collapse to test Fed's faith in a strong, low-risk financial systemEarlier this month the U.S. Federal Reserve in a report to Congress gave what has become a standard reassurance: Banks were strong and the overall financial system in solid shape.
Read more »