Palladium declines amid concerns in the global markets

Palladium prices fell on Tuesday amid growing concerns in the global markets about banks. 

Acquisition 

After a crisis that lasted several days, the Swiss National Bank intervened to provide liquidity of up to 50 billion francs to rescue Credit Suisse, which then was acquired by UBS Bank.

It was a deal valued at 3 billion francs, with UBS carrying losses of over 5 billion francs. 

The SNB lauded the deal and opened taps for upwards of 100 billion francs of liquidity. 

The Fed

Fed Chair Jerome Powell welcomed UBS's acquisition of Credit Suisse for 3 billion francs, in a deal to aims to restore stability to the banking sector.

After several days of the crisis, the Swiss National Bank intervened to offer liquidity of up to 50 billion francs to support Credit Suisse, which entered into intense negotiations with its main Swiss competitor UBS that ended in the acquisition deal.

The Fed is meeting this week to decide on policies, with most analysts expecting a 0.25% rate hike, but the Fed might surprise us and hold rates flat to calm the markets. 

The dollar index fell 0.1% to 103.2 as of 15:51 GMT, with a session-high at 103.5, and a low at 103.0.

On trading, palladium futures due in June fell 0.8% to $1,390 an ounce as of 15:51 GMT.