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Equities recover as US announces sanctions

Asian equities stage a sanctions dead-cat bounce A sense of “it could have been worse” swept New York late in the session after the White House announced its incremental Russian sanctions. That allowed US equities to reverse some of their losses, helped by decent economic data, but they still finished in the red.

23-02-2022 04:53 GMT by Jeffrey Halley

Powder puff sanctions boost markets

Equities rebound after new sanctions on Russia Equity markets in New York recovered some of their losses overnight, and markets in Asia are cautiously higher after the US and Europe imposed new sanctions on Russia after it formally recognised two breakaway provinces of the Ukraine and started moving peacekeeping military equipment into them. Markets though, breathed a sigh of relief that the sanctions were not more sweeping and aggressive, allowing oil, the US dollar and gold to ease slightly,

23-02-2022 04:35 GMT by Jeffrey Halley

Oil pares gain, investors love gold

Oil dips as Iran/US talks progress The oil price rally has hit a tentative wall as Ukrainian tensions cannot overcome the prospects of additional Iranian supply and possibly more crude output from OPEC+. Yesterday, Iran Foreign Ministry spokesman Khatibzadeh noted that significant progress has been made in reviving the 2015 nuclear deal.

22-02-2022 14:15 GMT by Edward Moya

Stocks struggle on Ukraine tensions, consumer confidence weakens, bitcoin steadies

Wall Street is debating what will be the impact that regional warfare will have on US stocks. The contagion risk will completely feed into inflationary pressures as energy costs will skyrocket and that will derail large parts of the economic recovery coming out of COVID. Geopolitical risks could lead to a slower growth cycle and that could remove the risk of a half-point Fed rate hike at the March 16th FOMC decision. Risk appetite will start to see some support as investors start to price in a

22-02-2022 14:11 GMT by Edward Moya

Aussie rises, wage growth next

Australian wage growth expected to rise Inflation continues to be a hot topic in Australia, and wage growth for February will be released early on Wednesday. Wage growth is expected to have risen 0.7% q/q, up from 0.6% in January.

22-02-2022 12:19 GMT by Kenneth Fisher

Brent Crude - $100 in sight?

Momentum building as Russia moves closer to invading Ukraine Brent crude came within a whisker of $100 today for the first time since September 2014 before profit-taking kicked in. Will it eventually capture this level? There's been a number of times in recent months when $100 oil has been thrown around like it's a case of when rather than if it will hit that massive psychological level. The shortfall of supply from OPEC+ which continues to fail to hit its targets by ever-widening margins, co

22-02-2022 11:35 GMT by Craig Erlam

New Zealand dollar hits 4-week high

RBNZ poised to raise rates The last time the RBNZ held a meeting was back in November, which seems like eons ago. RBNZ policy makers will meet on Wednesday, and a rate hike is widely expected, as the RBNZ moves to normalize policy.

22-02-2022 11:32 GMT by Kenneth Fisher

Oil closing in on USD 100, gold dips

Oil eyeing USD 100 after Ukraine escalation While stock markets are enjoying a partial recovery, oil and gas prices remain elevated as a conflict in Ukraine significantly increases the risk of disruptions to Russian supply. While there is reportedly no desire to intentionally restrict supplies in the face of further escalation, assurances will be taken with a pinch of salt given recent developments. The market remains extremely tight for oil and gas and the risk of disruption will result in a

22-02-2022 10:47 GMT by Craig Erlam

Another day, another rollercoaster ride

Volatility is the only thing that appears to be certain in the markets right now, as European stocks pare losses to even sneak into positive territory on the day while US futures now eye only a small decline after the bank holiday weekend. The old adage goes that the market hates uncertainty and while that has clearly been evident at times over the last couple of weeks, there's no doubt that investors continue to be tempted back in at the slightest hint of diplomacy winning the day. Even after

22-02-2022 10:43 GMT by Craig Erlam

Euro rises despite Ukraine escalation

Putin sends "peacekeepers" into eastern Ukraine Panicky investors? Risk-off market?

22-02-2022 06:54 GMT by Kenneth Fisher

Market Insights Podcast (Episode 297)

OANDA Senior Market Analyst Craig Erlam reviews the day's market news with Jonny Hart. They discuss the latest in Ukraine and how the markets are responding.

22-02-2022 05:14 GMT by Craig Erlam

Oil and gold jump on Ukraine news

Oil prices leap higher as Ukraine crisis worsens If you’ve read the note this far, you know what comes next. Oil prices surged higher overnight on thinned US holiday liquidity after President Putin crushed the summit olive branch and commenced “security operations” in his breakaway satellite provinces of the Ukraine.

22-02-2022 04:35 GMT by Jeffrey Halley

Dollar rises on Ukraine developments

Ukraine jitters raise risk apprehension With US markets closed for a holiday overnight, volumes and volatility were muted in currency markets, sparing them the worst of the ravages seen elsewhere. Still, the US dollar did receive a modest haven bid, and the old adage of always buying US dollars in a war is as good today as it was all those decades ago when I started my trading career.

22-02-2022 04:27 GMT by Jeffrey Halley

Asia equities slump on Ukraine developments

Putin moves in 'peacekeepers' into Eastern Ukraine The incipient rally seen yesterday has been snuffed out overnight after President Putin pushed back on US summit hopes and then recognised the two breakaway areas of the Ukraine and began “security” operations there. That dose of reality in dealing with the Russian President saw European stocks slump and with US markets closed, US index futures tumbled.

22-02-2022 04:02 GMT by Jeffrey Halley

Russian “peacekeepers" move sink markets

Putin recognises breakaway regions The clutching at straws rally we saw in Asian and early European hours yesterday quickly came to an end as Russian President Vladimir Putin quashed any certainty over a US summit regarding Ukraine. He followed that up by recognising the two Ukrainian separatist regions of Donetsk and Luhansk as sovereign states.

22-02-2022 03:46 GMT by Jeffrey Halley

Oil rises, gold in choppy waters

Oil marches higher as optimism fades around Ukraine It's been another volatile session in the oil market, with doubts over US-Russian diplomatic efforts lifting prices. Oil prices were declining early in the day at the prospect of a Biden-Putin meeting but as hopes around that have unravelled, the price of oil has climbed. This is despite a nuclear deal between the US and Iran seemingly being close which could bring 1.3 million barrels per day back into the markets, alleviating some of those p

21-02-2022 11:50 GMT by Craig Erlam

Another rollercoaster ride

The rollercoaster ride that is 2022 is continuing at the start of the week as European equities relinquish early gains to make heavy losses. The week got off to a decent start, following reports of France brokering a meeting between Joe Biden and Vladimir Putin. While the West has continued to warn of an imminent invasion, with Russia apparently following the playbook for such a move, a meeting between the two leaders increases the potential for a diplomatic resolution. But as we've seen so of

21-02-2022 11:46 GMT by Craig Erlam

Yen steady ahead of BoJ Core CPI

The Japanese yen has started the week quietly and is trading slightly below the 115 line. Investors eye Japanese inflation releases The focus will be on Japanese inflation indicators in the coming week, with three events on the economic calendar. Like other major economies, Japan is dealing with a rise in inflation, although the pace has been much more moderate than what we're seeing in the UK or the US.

21-02-2022 09:18 GMT by Kenneth Fisher

Pound rises on strong Services PMI

The pound has posted gains at the start of the week, punching above the 1.36 line. In the European session, GBP/USD is trading at 1.3634, up 0.35% on the day. PMIs points to UK rebound The UK economy continues to grow and has rebounded after a bump from Omicron in January.

21-02-2022 05:58 GMT by Kenneth Fisher

Oil eases, gold drifting

Oil eases on potential Ukraine summit A potential reduction of Ukraine tensions following the US/Russia summit announcement this morning has seen some sellers emerge in oil in Asia. Oil has had quite the rally in my absence, driven by the predicted Ukraine tensions, and a world economy that appears to be moving quickly towards living with omicron.

21-02-2022 04:55 GMT by Jeffrey Halley

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