Economic and fundamental developments 25-02-2022

25 Feb 2022 10:54 AM

The financial market saw a lot of action and volatility as Panic took over after Russia launched a military attack on Ukraine. Today the market is a bit cooling off, waiting for more development
Today, the US dollar retreated against most currencies, including the euro, as markets walked back some of the chaotic moves from the previous day when Russia's invasion of Ukraine sent investors scrambling.
Gold prices saw huge volatility yesterday as the precious metal retreated to $1,910 after reaching an intraday high of $1,974 – a level not seen since September 2020. heightened geopolitical tension is expected to keep the safe-haven demand higher.
Wall Street equities rebounded from deep losses during late-hour trade on Thursday despite an abrupt escalation in geopolitical tensions in Eastern Europe. Stock Indices are currently trading higher, with the NASDAQ 100 index leading the rebound and currently trading higher by more than 3%.
Crude oil prices retreated in today's session after reaching multi-year highs with the WTI traded as high as $100, and currently, the black metal is trading near 93.00.The price retracement came after US president Biden retaliated with economic penalties but without any clear evidence to restrict Russian oil and gas exports, which are an important source of energy to the European Union.

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