The West unveils sanction packages against Russian debt and oligarchs, whilst the buildup of Russian troops in Ukraine continues. Omicron cases continue to rise across the Asia-Pacific region.
February 23, 2022
GBP/USD 1.3611 GBP/EUR 1.2003 EUR/USD 1.1340 USD/CAD 1.2734 EUR/CHF 1.0443 EUR/SEK 10.5713 EUR/NOK 10.0559 EUR/DKK 7.4393 USD/ILS 3.2266 AUD/USD 0.7245 NZD/USD 0.6781 USD/SGD 1.3445 USD/JPY 115.03 USD/CNH 6.3161 USD/INR 74.5763 EUR/ILS 3.6589 GBP/ILS 4.3917 USD/ZAR 15.0336
Boris Johnson has come under fire for imposing “peashooter” sanctions on Russia. Following a strategy similar to the US, the UK hopes to scale up its sanctions should Russia escalate tensions in Ukraine.
‘Partygate’ re-emerged as a leading story yesterday, following a report confirming the PM is being questioned under police caution, as the Met investigates 6 parties at which the PM was allegedly in attendance.
The FTSE100 is up by 0.51% intraday. Sterling trades 0.15% higher against the dollar and up 0.05% against the euro at time of writing.EUR
ECB’s Holzmann has struck a hawkish tone by indicating his belief that the ECB should raise rates prior to the end of asset purchases, contradicting previous comments from Lagarde. Euro-area January CPI is forecast at 5.1%.
Oil prices have steadied following wild swings that took brent crude to $99.50 a barrel, amidst ongoing pressures across Europe.
Since this morning’s open, the STOXX trades up 1.02% and the CAC40 0.9%. The Euro trades 0.20% higher against the dollar.USD
President Biden announced multiple sanctions on Russia yesterday, aligned to that imposed by the UK and EU. The sanctions have been open to much criticism for being too soft compared to what was previously threatened. Meanwhile, comments from Washington and Moscow indicate the proposed French brokered summit is now off the table. US forces are trickling into Eastern Europe following orders from Defence Secretary Lloyd Austin.
The DXY trades down -0.06%, and yesterday the NASDAQ and S&P500 closed higher by 0.81% and 0.58% respectively.ASIA/PACIFIC
Hong Kong has announced new support measures for ‘anti-epidemic’ needs. GDP growth is currently forecast to halve in 2022 following strict covid measures.
Mainland Chinese banks have accelerated mortgage approvals to ease troubles on a struggling real-estate industry.
France has removed Australia from is list of key Asian partners, in an ongoing dispute following the AUKUS submarine agreement.ILS
USDILS currently trades 0.36% lower at 3.2200, bouncing off one-week highs above 3.2400 yesterday.Data & Events
Euro-Area – Core Inflation rate
Germany - Consumer Confidence
US- MBA Mortgage Approvals
UK - BOE’s Bailey testifies before parliament Treasury Committee.
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