# Credit Suisse woes knock euro, sterling, Swiss franc

> The euro, sterling and Swiss franc fell against the dollar after Credit Suisse shares dropped about 20% following investor refusal of more backing. Markets cut the odds of a 50 basis point ECB hike and the dollar index rose to 104.65.

- Date: 2023-03-15 · published 2023-03-15T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/10078-credit-suisse-woes-knock-euro-sterling-swiss-franc
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A stronger dollar against major currencies makes US commodity exports less competitive abroad and tends to pressure grain and meal prices, while reduced rate-hike expectations weigh on the euro.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2023-03-15 | 1 | -1.7% | -3.5 | Credit Suisse's ~20% share plunge on 2023-03-15 triggered risk-off flows into the dollar and out of the euro, while cutting odds of a 50bp ECB hike. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-02-01 | [U.S. dollar reaches six-week high on weaker euro, Swiss franc and yen](https://feedsoft.ai/events/48877-u-s-dollar-reaches-six-week-high-on-weaker-euro-swiss-franc-and-yen.md) | +0.3% | +0.5% |
| DXY | 2023-03-26 | [Banking stress puts U.S. and Europe on watch for credit crunch \| Reuters](https://feedsoft.ai/events/37074-banking-stress-puts-u-s-and-europe-on-watch-for-credit-crunch-reuters.md) | -0.9% | -1.0% |
| DXY | 2023-02-02 | [Euro, sterling dip as investors assess rate outlook](https://feedsoft.ai/events/37536-euro-sterling-dip-as-investors-assess-rate-outlook.md) | +1.3% | +2.1% |
| DXY | 2018-02-05 | [Credit Suisse warns on risk of dollar rebound](https://feedsoft.ai/events/66765-credit-suisse-warns-on-risk-of-dollar-rebound.md) | +1.1% | +0.6% |
| DXY | 2018-05-30 | [Worsening Italian crisis batters stock markets and euro](https://feedsoft.ai/events/65216-worsening-italian-crisis-batters-stock-markets-and-euro.md) | +0.0% | +1.0% |
| EURUSD | 2022-01-26 | [Stay Bearish Euro (Until EZ Wages Hit 3%) says Credit Suisse](https://feedsoft.ai/events/43346-stay-bearish-euro-until-ez-wages-hit-3-says-credit-suisse.md) | -0.4% | +0.3% |
| EURUSD | 2021-02-01 | [U.S. dollar reaches six-week high on weaker euro, Swiss franc and yen](https://feedsoft.ai/events/48877-u-s-dollar-reaches-six-week-high-on-weaker-euro-swiss-franc-and-yen.md) | -0.8% | -0.7% |
| EURUSD | 2023-03-26 | [Banking stress puts U.S. and Europe on watch for credit crunch \| Reuters](https://feedsoft.ai/events/37074-banking-stress-puts-u-s-and-europe-on-watch-for-credit-crunch-reuters.md) | +1.0% | +2.0% |

## Sources

- rte.ie: https://www.rte.ie/news/business/2023/0315/1363406-credit-suisse-woes-knock-euro-sterling-swiss-franc/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.