<p>I posted this reminder on Friday, but here to is again ICYMI. Something to be aware of if you are trading European markets.</p><p>The European Union switch to daylight saving time on March 26.</p><p>As do other European countries such as Switzerland and the UK.</p><p>The clock goes forward one hour.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.

<p>Earlier news today that Treasury Secretary Yellen was meeting with regulators offered some support for markets and hope of weekend action to shore up deposits. The initial readout was vague:</p><p>The <a target=“_blank“ href=“https://home.treasury.gov/news/press-releases/jy1367″ target=“_blank“ rel=“nofollow“>statement </a>was:</p><blockquote>Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session by videoconference.During the meeting, the Council heard a presentation from staff of the <a target=“_blank“ href=“https://www.forexlive.com/terms/f/federal-reserve/“ class=“terms__main-term“ id=“0139b451-c49a-48a1-8365-838a83595a97″>Federal Reserve</a> Bank of New York on market developments. The Council discussed current conditions in the banking sector and noted that while some institutions have come under stress, the U.S. banking system remains sound and resilient. The Council also discussed ongoing efforts at member agencies to monitor financial developments.</blockquote><p>Separately, the US announced that bank deposits only fell to $17.5T from $17.6T in the week ending March 15. Next week’s data will be more telling and some of this is money moving from small banks to big ones but there doesn’t look to be a broad run here.</p>

This article was written by Adam Button at www.forexlive.com.

<p>The major US stock indices are closing higher for the day, and higher for the week. For the trading year, the Dow industrial average is still down on the year but the S&amp;P and the NASDAQ index are positive</p><p>A snapshot of the closing levels for the day shows:</p><ul><li>Dow industrial average up 132.28 points or 0.41% at 32237.54. At intraday lows, the index was down -300.08 points</li><li>S&amp;P index up 22.27 points or 0.56% at 3970.98. At intraday lows, the S&amp;P index was down -39.55 points</li><li>NASDAQ index up 36.57 points or 0.31% at 11823.97. Intraday lows reached -116.73 points.</li><li>The Russell 2000 up 14.63 points or 0.85% at 1734.92. The low for the day was down -25.05 points</li></ul><p>For the trading week,</p><ul><li>Dow industrial average rose 1.18%</li><li>S&amp;P index rose 1.39%</li><li>NASDAQ index rose 1.66%</li><li>Russell 2000 rose 0.52%</li></ul><p>For the trading year, the Dow industrial average remains negative, while the S&amp;P index in the NASDAQ index are higher.</p><ul><li>Dow industrial average is a down -2.74%</li><li>S&amp;P index is up 3.42%</li><li>NASDAQ index is up 12.97%</li></ul><p>How did the S&amp;P components do this week? The gains were led by communication services up 3.4 point percent. Real estate fell -1.38% and utilities fell -1.2%. Despite all the financial concerns this week, the financial component rose 0.58%. The regional bank index was also higher by 0.18%. That index rose 3.03% today pushing the price back into positive territory for the week.</p><ul><li>Consumer discretionary, +0.44%</li><li>Energy +2.29%.</li><li>Consumer Staples +1.43%.</li><li>Healthcare +1.49%.</li><li>Industrials +0.67%</li><li>Information technology +2.04%.</li><li>Materials +2.12%.</li><li>Real estate -1.38%.</li><li>Communication services +3.41%.</li><li>Utilities -1.2%.</li><li>Financials +0.58%</li></ul><p>For the trading year:</p><ul><li>Consumer discretionary, +9.65%</li><li>Energy -11.05% </li><li>Consumer Staples -2.28%</li><li>Healthcare -6.38%.</li><li>Industrials -1.31%</li><li>Information technology +17.49%</li><li>Materials -1.13%</li><li>Real estate -3.92%</li><li>Communication services 18.46%</li><li>Utilities -6.87%</li><li>Financials -9.43%</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.

<ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/sp-global-marchus-services-pmi-538-vs-505-expected-20230324/“>S&amp;P Global March flash US services PMI 53.8 vs 50.5 expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/canada-retail-sales-for-january-14-versus-07-estimate-20230324/“>Canada retail sales for January 1.4% versus 0.7% estimate</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/us-february-durable-goods-orders-10-vs-06-expected-20230324/“>US February durable goods orders -1.0% vs +0.6% expected</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/feds-bullard-sees-80-chance-financial-stress-abates-20230324/“>Fed’s Bullard: Sees 80% chance financial stress abates</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/feds-bullard-inflation-remains-too-high-macro-data-stronger-than-expected-20230324/“>Fed’s Bullard: Inflation remains too high, macro data ’stronger than expected'</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/fed-barkin-the-case-for-raising-rates-this-week-was-pretty-clear-20230324/“>Fed Barkin: The case for raising rates this week was pretty clear</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/feds-bostic-fed-rate-rise-was-not-an-easy-decision-20230324/“>Fed’s Bostic: Fed rate rise was not an easy decision</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/baker-hughes-us-oil-rig-count-4-20230324/“>Baker Hughes US oil rig count +4</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/atlanta-fed-q1-gdpnow-tracker-32-vs-32-prior-20230324/“>Atlanta Fed Q1 GDPNow tracker 3.2% vs 3.2% prior</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/boes-mann-i-voted-for-25-bps-partly-because-inflation-expectations-began-to-moderate-20230324/“>BOE’s Mann: I voted for 25 bps partly because inflation expectations began to moderate</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/yellen-convenes-private-meeting-of-financial-stabilty-oversight-council-20230324/“>Yellen convenes private meeting of financial stabilty oversight council</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/ecbs-lagarde-told-eu-leaders-ecb-fully-equipped-to-provide-liquidity-to-financial-system-20230324/“>ECB’s Lagarde told EU leaders ECB fully equipped to provide liquidity to financial system</a></li></ul><p>Markets:</p><ul><li>Gold down $14 to $1979</li><li>US 10-year yield down 2.8 bps to 3.37%</li><li>WTI crude oil down 64 cents to $69.32</li><li>S&amp;P 500 up 22 points to 3971. On the week up 1.4%</li><li>JPY leads, NZD lags</li></ul><p>The mood was poor at the start of North American trade as banking worries — particularly Deutsche Bank — haunted the market. US regional stocks were also under pressure and bonds had a strong bid. That had led to US dollar and yen buying as safe havens as US 2-year yields hit now post-SVB lows.</p><p>The mood changed as Fed speakers and data rolled out. The PMIs in particular were a reminder that the bulk of US economic data has surprised to the upside this year and there are no concrete signs of a slowdown; if anything it’s the opposite.</p><p>That led to some selling in bonds and the dollar began to slowly pare gains ex-JPY. Equities turned more decisively later in the day as they followed regional bank shares once again. News that Yellen was meeting with regulators was well-received but might have also stoked expectations of weekend action. That could lead to disappointment on Monday if nothing unfolds.</p><p>Overall, it was a volatile week and there won’t be too many people disappointed to see the weekend arrive. The machinations of Fed week and non-stop banking news leave the market needing an opportunity to digest.</p><p>The weekly charts show some nice progress for the yen but it stalled today and began to reverse. That’s where the focus is going to remain.</p>

This article was written by Adam Button at www.forexlive.com.

<p>Some late day buying is pushing the major indices to new highs for the day. They are also moving into positive territory.</p><p>A snapshot of the market currently shows:</p><ul><li>Dow industrial average up 119 points or 0.37% at 32223.86</li><li>S&amp;P index of 20.29 points or 0.51% at 3969</li><li>NASDAQ index up 34.49 points or 0.29% at 11821.40</li></ul><p>The S&amp;P index has moved back above its 100 hour moving average currently at 3944.60. It’s a 200 hour moving average looms up above at 3988.32.</p><p>Looking at the NASDAQ index, the low price today stalled against the low price from Wednesday’s trade. On Monday, the price traded above and below the 200 hour moving average to start the day, but closed above that level and remained above both the 100 and 200 hour moving averages at 11569.42 and 11600.91. It would take a move below both next week to increase the bearish bias. Until then the buyers are more in control.</p>

This article was written by Greg Michalowski at www.forexlive.com.