Today's forex news: Fear led to an increase in safe-haven assets
Today's forex news: Fear led to an increase in safe-haven assets
EUR/USD⬆️
GBP/USD⬆️
AUD/USD⬆️
USD/CAD⬆️
XAU⬆️
WTI⬆️
On Monday, global markets were dominated by tensions between Russia and Ukraine, resulting in strong safe-haven demand. The spark was a comment by US President Joe Biden, who told his Ukrainian counterpart Volodymyr Zelensky on Sunday that if Russia took more steps toward invasion, the US would respond "swiftly and firmly."
Russian Foreign Minister Sergey Lavrov told President Vladimir Putin early Monday that the US had made solid ideas to reduce military risks and that he could see a way forward with discussions, though he noted that the EU and NATO responses had not been adequate. Fears have subsided to some extent, but risk-aversion persists.
As the day draws to a close, there are no signs of progress in diplomatic discussions; on the contrary, Ukrainian President Zelensky stated that he believes Russia would invade Ukraine on Wednesday, February 16, which he has declared a national holiday, the Day of Unity.
In a risk-averse environment, the US dollar and gold benefited the most, with the former boosted by comments from US St Louis Fed President James Bullard, who reiterated his call for 100 basis points in interest rate hikes by July 1, citing the last four inflation reports that show broadening inflationary pressures.
With little on the horizon until next Wednesday, when the US releases Retail Sales and the FOMC Meeting Minutes, a lack of a macroeconomic calendar intensified risk-related activity.
The EUR/USD pair is currently trading below 1.1300, while the GBP/USD pair is hovering around 1.3520. In the face of rising gold and oil prices, commodity-linked currencies are barely changed against the dollar.
Global indices plummeted, with Wall Street's slide speeding up as the day drew to a close. Bond yields have fallen, with the 10-year Treasury note now yielding roughly 1.96 percent.
Gold rose to a new 2022 high of $1,872.85 per troy ounce, and is currently trading at that level. Crude oil prices have also risen, with WTI currently trading at $95.25 per barrel.
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EUR/USD⬆️
GBP/USD⬆️
AUD/USD⬆️
USD/CAD⬆️
XAU⬆️
WTI⬆️
On Monday, global markets were dominated by tensions between Russia and Ukraine, resulting in strong safe-haven demand. The spark was a comment by US President Joe Biden, who told his Ukrainian counterpart Volodymyr Zelensky on Sunday that if Russia took more steps toward invasion, the US would respond "swiftly and firmly."
Russian Foreign Minister Sergey Lavrov told President Vladimir Putin early Monday that the US had made solid ideas to reduce military risks and that he could see a way forward with discussions, though he noted that the EU and NATO responses had not been adequate. Fears have subsided to some extent, but risk-aversion persists.
As the day draws to a close, there are no signs of progress in diplomatic discussions; on the contrary, Ukrainian President Zelensky stated that he believes Russia would invade Ukraine on Wednesday, February 16, which he has declared a national holiday, the Day of Unity.
In a risk-averse environment, the US dollar and gold benefited the most, with the former boosted by comments from US St Louis Fed President James Bullard, who reiterated his call for 100 basis points in interest rate hikes by July 1, citing the last four inflation reports that show broadening inflationary pressures.
With little on the horizon until next Wednesday, when the US releases Retail Sales and the FOMC Meeting Minutes, a lack of a macroeconomic calendar intensified risk-related activity.
The EUR/USD pair is currently trading below 1.1300, while the GBP/USD pair is hovering around 1.3520. In the face of rising gold and oil prices, commodity-linked currencies are barely changed against the dollar.
Global indices plummeted, with Wall Street's slide speeding up as the day drew to a close. Bond yields have fallen, with the 10-year Treasury note now yielding roughly 1.96 percent.
Gold rose to a new 2022 high of $1,872.85 per troy ounce, and is currently trading at that level. Crude oil prices have also risen, with WTI currently trading at $95.25 per barrel.
#Mitrade #DollarIndex #YieldCurve #Inflation #Gold #USDJPY #EURUSD #GBPUSD
📱 Monitor the markets in real time and seize trading opportunities on Mitrade