Gold rallied on Wednesday while global stocks suffered another selloff amid Credit Suisse fears.
In the US, the Dow Jones ended the day losing 280 points while the S&P500 dropped by 0.7%.
Moreover, WTI crude oil fell below $70 a barrel for the first time since 2021 on rising concerns about the latest developments in the financial sector.
Meanwhile, European stock markets were strongly down with banking stocks leading the decline.
Later today, all eyes will be on the ECB interest rate decision, market participants are expecting a 50bps hike from 3.00% to 3.50%.
Below, we will be analyzing the latest price action in the major currency pairs alongside gold.