SNB total sight deposits w.e. 21 March CHF 440.4 bn vs CHF 440.7 bn prior

PBOC is expected to set the USD/CNY reference rate at 6.9807 – Reuters estimate PBOC CNY reference rate setting for the trading session ahead.

ANZ said its World Commodity Price Index fell 2.1% m/m in December as dairy prices slid 5.3% and butter plunged 16.9%, offsetting record meat and wool prices. A stronger NZD pushed the local index down 3.9% m/m.

Iran protests escalate, risking mass executions. Trump warns of 'big price' & potential US action; tariffs loom.

Dow futures dip 0.1% as big bank earnings loom. PPI data & SCOTUS tariff ruling eyed. Trump pressures Fed & credit card rates.

Credit card bond market faces 2008 crisis risk if 10% rate cap imposed; issuance may shrink.

Saudi Jafurah gas project: 229 Tscf reserves, $100B cost. Projections vs. reality on production & reserves raise valuation concerns.

Reuters: Drones hit two tankers near a key Black Sea terminal that loads most Kazakh crude. Kazakhstan output fell ~35% Jan 1–12 on export constraints, while war-risk insurance costs for Black Sea voyages nearly doubled.