Kyiv under direct attack as the US unveils tougher sanctions and deploys more troops to NATO’s eastern European members.
February 25, 2022
GBP/USD 1.3379 GBP/EUR 1.1968 EUR/USD 1.1179 USD/CAD 1.2806 EUR/CHF 1.0344 EUR/SEK 10.6447 EUR/NOK 10.0283 EUR/DKK 7.4416 USD/ILS 3.2619 AUD/USD 0.7190 NZD/USD 0.6701 USD/SGD 1.3537 USD/JPY 115.29 USD/CNH 6.3157 USD/INR 75.4025 EUR/ILS 3.6461 GBP/ILS 4.3638 USD/ZAR 15.3330
Boris Johnson called for the hardline approach of banning Russia from the swift network yesterday, which was quickly rejected by Germany as fears over their Russian energy reliance grows.
UK Consumer confidence fell to -26 in the down from -19 in January, as consumers become cautious as the living cost rises.
The FTSE has gained 1% since the London open, and the GBPUSD trades up 0.05%EUR
French inflation rises to 4.1% to highlight a difficult situation for the ECB as they decide on a rate hike strategy which doesn’t cripple bloc growth.
Putin briefly spoke with Macron as he pleaded for Russian de-escalation.
As we print, the STOXX trades up 0.65% and the CAC up 0.7%USD
Biden announced sanctions targeting five Russian banks, and has aimed to restrict Russia’s ability to do business in foreign currencies. He subsequently announced that he will release strategic oil to combat soaring brent prices. The measures were more measured than expected leading to a risk rally.
There are rising calls for the Fed to hike rates by 1% by midyear, however there are still key data releases prior to the FOMC March meeting
S&P500 futures are up 0.66%, following a day where US indices gained with the NASDAQ closing up 3.35%.ASIA/PACIFIC
The PBOC ramped up its short-term liquidity injection, injecting $45.8 billion through reverse repurchase agreements. The Chinese economy has stabilized at subdued growth levels as the property market slumps despite a review of lending rules.
Singapore’s industrial production fell 10.7% monthly. News from the RBA indicates it will tighten monetary policy to stave off inflation, as oil prices have exacerbated price issues.ILS
USDILS trades up 0.5% intraday around 3.26, following yesterday which saw USD strength, and highs bouncing off 3.29.
The TA-35 closed down -2.91% yesterday, after a worldwide equity sell off.Data & Events
DE – Q4 GDP
FR – CPI, Q4 GDP
IT – Consumer confidence
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