Asian equities opened lower for a third straight day on Thursday as investors weighed developments in Russia and weak European economic data.
Moscow said on Wednesday that it will strike back at Western sanctions by banning certain imports. U.S. poultry imports have already been suspended and officials say U.S. agricultural products and European fruits and vegetables will also be included. The move follows a statement by NATO on Wednesday that Russia amassed around 20,000 troops on Ukraine’s border.
“If Putin was to invade [Ukraine], it would likely be under the proviso of a ‘peace-keeping mission’. The other scenario is he will retract his support for the rebels, meaning the current sanctions from the U.S. and Europe are working and are likely to spare Russia further financial hurt,” said Evan Lucas, market strategist at IG in a note.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015