EUR/GBP is in the hands of the bears at the start of the week. Ukraine crisis is driving risk over a cliff as tensions escalate. EUR/GBP is lower at the start of the week, caught up in the risk-off flows during the open that saw the safe-haven currencies gain following the latest headlines surrounding Russia’s invasion
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The NZD dollar vs. the JPY finished tie week gaining 1.25%. NZD/JPY Technical Outlook: Neutral-upward biased, confirmed by a bullish RSI. FInishing a busy week on the financial markets, the NZD/JPYended it on the right foot, up 1.25% in the week. Breaking news that Russia would be open to sit down and talk with the
Russia vetoed a draft UN Security Council resolution on Friday that would have deplored Moscow’s invasion of Ukraine, while China abstained from the vote – a move western countries view as a win for showing Russia’s international isolation. The United Arab Emirates and India also abstained from the vote on the US-drafted text. The remaining 11
GBP/JPY reclaimed the 155.00 level on Friday, the pair lifted as a risk appetite revival undermined yen demand. But GBP/JPY continues to trade lower by about 0.8% on the week and ongoing uncertainty regarding geopolitics. GBP/JPY was able to reclaim the 155.00 level on Friday, with the pair lifted as a strong recovery in US
AUD/USD saw a stunning rebound on Friday, rallying back to the mid-0.7200s as risk appetite improved. That marks a near 2.0% rebound from Thursday’s post-Russia invasion of Ukraine lows. Next week will be busy with the RBA deciding policy, US jobs and ISM surveys and Aussie GDP plus geopolitics. AUD/USD saw an ultra-impressive rebound on
Yesterday, Russia launched a full-scale invasion of Ukraine from multiple fronts. The crisis immediately plunged financial markets into risk-off mode. Strategists at ABN Amro focus on two key scenarios. They also offer an additional third, very negative scenario. The price shock scenario (probability: 75%) “Commodity prices continue their surge higher, and prices remain elevated for
In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) at 6.3346 vs the last close of 6.3299. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning, the
COIN stock is down 31.6% YTD. Coinbase is set to report Q4 earnings after the close on Thursday, February 24. Wall Street expects $2.25 in normalized EPS on $1.99 billion for the leading cryptocurrency exchange. Coinbase (COIN), the operator of the most prominent cryptocurrency exchange in the US, could not have picked a worse session to lay out its
“In another indication that an invasion of Ukraine may be very close to taking place, Russian military leaders have gone to their command center, and cyberattacks are underway,” ABC News reports, citing a US official. “Gen. Mark Milley, Chairman of the Joint Chiefs of Staff, believes any invasion has to happen during the night,”
USD/CAD came under intense selling pressure on Wednesday and dived to a fresh weekly low. The risk-on impulse weighed on the safe-haven USD and exerted downward pressure on the pair. Bulls seemed rather unimpressed by softer crude oil prices, which tend to undermine the loonie. The USD/CAD pair continued losing ground through the early North
Market sentiment dwindles as traders seek fresh clues over Russia-Ukraine issues, Fedspeak turns softer of late. S&P 500 Futures part ways from Wall Street, Japan holiday stops US Treasury bond moves. Light calendar keeps risk catalysts on the driver’s seat. Risk appetite improves during the mid-Asian session on Wednesday as traders jostle over the odds
A combination of factors pushed AUD/USD to a near two-week high on Tuesday. RBA rate hike bets acted as a tailwind amid the emergence of fresh USD selling. A turnaround in the risk sentiment further benefitted the perceived riskier aussie. The AUD/USD pair maintained its strong bid tone heading into the North American session and
Bears are required to push EUR/GBP below 0.8313 for further weakness. The 50-EMA and 20-EMA are eyeing lower, which adds to the downside filters. The RSI (14) has sensed resistance near 60.00 as investors have added offers on the pullback. The EUR/GBP pair has attracted potential offers near 0.8325, which is the highest traded price
According to Russian state-controlled media citing Russian military officials on Monday, Russian troops and border guards prevented Ukrainian “saboteurs” from breaching the Ukraine/Russian border. Five people who tried to cross the border were killed, the officials said, and Ukrainian armed vehicles were also destroyed in Russia’s Rostov region. Ukrainian military forces subsequently denied claims it had
The People’s Bank of China left their 5-year loan prime rate unchanged at 4.60%, as expected and the 1-year loan prime rate unchanged at 3.70%, as expected. The central bank also sets the yuan mid-point at 6.3401 vs the last close of 6.3257. About the fix China maintains strict control of the yuan’s rate on the mainland. The
AUD/USD failed to hold above 0.7200 for a third successive session, as geopolitical angst underpinned US dollar demand. Geopolitics will be the highlight for the pair next week, though Aussie Q4 wage data will also be key. AUD/USD failed to hold to the north of the 0.7200 level for a third successive session, despite solid
Gold aims for a 2.06% gain on the week, courtesy of geopolitical jitters amid Fed speaking ignored by market players. The conflict in Eastern Europe gives signs of no de-escalation as Russian President Putin decided to oversee nuclear drills in the weekend. XAU/USD Technical Outlook: Despite finishing the week on the wrong foot, still upward
GBP/USD tried but failed to break above its 1.3500-1.3650ish range that has prevailed for most of February. The pair fell back under 1.3600 in the US session as geopolitical angst remains elevated. That kept USD in demand and negated pushback against a 50bps March rate hike from Fed’s Williams. GBP/USD tried but eventually failed to