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Economic and fundamental developments 18-02-2022

18 Feb 2022 12:07 PM
  • The ongoing tensions between Ukraine and Russia continue to be the main driving force behind market moves. Gold benefited the most from the risk-averse environment, trading at its highest since June 2021 at around $1,900.00 a troy ounce.
  • US and European stock futures bounced back on Friday and selling pressure on Asian shares eased after the US Secretary of State agreed to a meeting with Russia's foreign minister, raising hopes of a solution to the standoff over Ukraine.
  • the dollar index is trading flat at 95.70 while major pairs remained stable within familiar ranges. the cautiously hawkish FOMC minutes released earlier this week, alongside the retreat in US Treasury yields yesterday seem to further undermine the dollar.
  • Oil prices fell and currently posting moderate losses to pressurize daily lows near the $89.00 region. The drop came amid easing fears of an imminent Russian invasion of Ukraine, as diplomacy calls in for de-escalation

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