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Economic and fundamental developments 21-02-2022

21 Feb 2022 11:22 AM
  • Many Asian stock indices fell today, but US stock indices contracts rose late in the Asian session, despite opening the week lower. News from the French President's office that positive talks were taking place to stop the escalation in Ukraine and that the Russian President and the US President agreed in principle to meet in the coming weeks.
  • After oil prices rose at the beginning of the week's trading, oil prices returned lower at the time when investors were eyeing any developments regarding the efforts to revive the Iran nuclear deal after news from the European Union that an agreement was very close to the agreement.
  • Gold prices rose to touch levels around $1908 per ounce, but the precious metal returned to trading lower later. Today, the People's Bank of China decided to fix the interest rate for one-year loans unchanged at 3.7%, and the five-year interest rate was also fixed at 4.6%.
  • The US dollar fell against a basket of major currencies today during the Asian session, accompanied by increased risk appetite and reduced concern over geopolitical tensions between Russia and Ukraine. The dollar index traded lower by more than 0.34%.

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