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 NZD/USD remains bearish around 0.6150 as Credit Suisse and SVB's problems are joined by NZ GDP 's negative performance NZD/USD is struggling to overcome its intraday losses despite the recent rally in the Kiwi. New Zealand's fourth quarter GDP came in weaker than expected, raising fears of a downgrade of New Zealand's credit rating. Troubles at major banks in the U.S. and Europe foreshadow a return of the 2008 financial crisis, weighing on riskier assets such as antipode paper. Goldman Sachs' economic outlook and China's threat to European equities entertain traders in a sluggish session. NZD/USD remains depressed near 0.6160, down for the second day in a row, though it recouped its intraday losses at the start of Thursday's European session. The kiwi pair is bearing the brunt of New Zealand's weak fourth-quarter gross domestic product (GDP) results, as well as market fears stemming from recent bank failures in the U.S. and Europe. It's worth noting...

 Dollar softens, euro gains after Credit Suisse improves risk sentiment Investing.com - The U.S. dollar weakened in early European trading Thursday, while the euro gained after Credit Suisse added to its financial position, boosting risk sentiment. At 03:55 ET (07:55 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was trading 0.3% lower at 103.980, giving back some of the 1% gain from the previous session. Credit Suisse (SIX:CSGN) late Wednesday announced plans to borrow up to CHF50 billion ($1 = CHF0.9297) from the Swiss National Bank to bolster its liquidity position. Concerns have been growing for some time about the financial health of the Swiss lender, which has faced heavy customer outflows in the wake of a series of scandals. This came to a head on Wednesday when its share price fell to a record low as its main investor, the National Bank of Saudi Arabia, said it was unable to provide further funding to the lender. News of the cre...

 US government calls for halt to $1 billion deal between Voyagerand Binance.US - here's why Source: AdobeStock / Ascannio Binance.US' plans to acquire the assets of Voyager Digital, a collapsed cryptocurrency broker, have stalled due to a demand from the US government to put the proposed deal on hold. According to court documents, both the Securities and Exchange Commission (SEC) and the New York Financial Services Authority have raised objections to the $1 billion transaction, citing several concerns. According to SEC, the Voyager deal could violate laws governing the unregistered offer and sale of securities. More specifically, the agency said the crypto-asset transactions necessary to conduct the rebalancing "may violate the prohibition in Section 5 of the Securities Act of 1933 against the unregistered offer, sale, or delivery after sale of securities." The SEC objection also referenced reports of U.S. investigations into Binance.US and global crypto exchange Bina...

 Crypto-friendly Signature Bank was investigated by the U.S. Department of Justice before its collapse - The U.S. Department of Justice reportedly investigated Signature Bank before state regulators shut it down. The investigation related to the bank's anti-money laundering measures. Signature Bank, the crypto-friendly financial institution that was shut down by the New York Department of Financial Services (NYDFS) on March 13, was reportedly the subject of an investigation by the U.S. Department of Justice earlier this week. According to a report by Bloomberg, Justice Department investigators in Manhattan and Washington were looking into the shutdown bank's relationships with its crypto customers, specifically the steps taken to detect money laundering. People familiar with the matter revealed that it involved monitoring customers who opened new accounts and reviewing transactions to look for signs of criminal activity. The Securities and Exchange Commission was also part of t...

 Hackers steal $197 million from crypto lending platform Euler Finance (IANS) Cyber criminals have stolen around $197 million in cryptocurrencies from crypto-lending platform Euler Finance. Blockchain monitoring firm PeckShield tweeted that Euler Finance was exploited in a spate of transactions on Ethereum, "resulting in the loss of $197 million from the project." Independent researcher ZachXBT wrote on Twitter that it was "almost certainly" an attack by malicious hackers. "We are aware of this and our team is currently working with security experts and law enforcement. We will release more information as soon as we have it," Euler Finance shared in a tweet. Several Euler investors described their plight on social media platforms. "Almost $1.3 million gone. I thought they were the safest credit protocol. I never liked Michael on Twitter, but I can not imagine them posting updates without notice or checks," wrote one Euler investor on Discord. Eul...

 Asia FX falls as US banking rout dims sentiment ahead of CPI data Investing.com Asian currencies slipped on Tuesday as worries about a banking crisis in the US weighed on sentiment. A slight recovery in the dollar also weighed on markets ahead of key inflation data to be released later in the day. The Chinese yuan fell 0.4%, while the Japanese yen lost 0.5% as most regional currencies came under pressure due to uncertainty over the future course of US monetary policy in the face of a possible banking crash. Asian currencies had initially benefited from expectations that the US Federal Reserve will slow its pace of interest rate hikes to avert further damage to the economy from high interest rates, which had been a key contributor to the collapse of Silicon Valley Bank (NASDAQ:SIVB). However, markets were unsettled by such a notion ahead of Consumer Price Index data due later in the day, which is expected to show that US inflation remained stubborn in February. Signs of stubborn in...

 America's ticking $620 billion time bomb Banks in the US are sitting on $620 billion of "unrealised losses' - assets that have lost value but have not yet been sold - the head of the Federal Deposit Insurance Corporation has warned, the media reported. News of the worrying shortfall came amid the closure of Silicon Valley Bank - the biggest collapse since Washington Mutual in 2008, the Daily Mail reported. As the government scrambles to prevent contagion, the Federal Reserve announced on Sunday night that all depositors would get their money back. However, the revelation about the "unrealised losses' will only serve to heighten concerns about the US banking sector, the Daily Mail reports. The ticking time bomb is due to the fact that US banks bought treasury bonds and notes when interest rates were low, which have lost value now that interest rates are rising. When interest rates rise, newly issued bonds pay investors higher interest rates, which causes the older...

  Automobile share falls 8% as promoters plan to sell stake in block deal According to a report by CNBC, Mahindra & Mahindra Limited (M&M), an Indian multinational automaker that holds a 9.25% stake in Mahindra CIE, has announced that it plans to sell its stake. The company on Monday announced that it will divest a 6.5% stake in Mahindra CIE through block deals. The deal is expected to be worth Rs 892.6 crore, with shares exchanged at an average price of Rs 365 per share. On the news, shares of M&M fell about 3 per cent on Monday to end the session at 1,192 rupees. Shares of Mahindra CIE Automotive (NS:MAHN) plunged 7.7 per cent to close at Rs 363 around the same time. Mahindra CIE Automotive Ltd is engaged in manufacturing and selling automotive components to original equipment manufacturers and other customers in India and overseas. M&M Ltd is one of the most diversified automotive companies in India with presence in 2-wheelers, 3-wheelers, PVs, CVs, tractors and ...