White House claims Russian withdrawal claims are “false”, UK begins to tackle Russia money.
February 17, 2022
GBP/USD 1.3597 GBP/EUR 1.1973 EUR/USD 1.1357 USD/CAD 1.2708 EUR/CHF 1.0464 EUR/SEK 10.5953 EUR/NOK 10.1265 EUR/DKK 7.4406 USD/ILS 3.2004 AUD/USD 0.7194 NZD/USD 0.6694 USD/SGD 1.3447 USD/JPY 115.04 USD/CNH 6.3348 USD/INR 75.1138 EUR/ILS 3.6346 GBP/ILS 4.3518 USD/ZAR 15.0209
The UK aims to begin taking financial action against Russia, scraping a golden visa program which gives foreign nationals a path to residence.
Sterling trades flat against the dollar and has made small gains against the euro at time of writing. A muted day yesterday for the FTSE 100 as it finished down 0.07%. In early trading it has ebbed lower losing 0.2% so far.EUR
Yesterday was a mixed session for European equities following conflicting remarks on de-escalation in Ukraine and the potential for a more hawkish Fed. The STOXX creeped up 0.04%, meanwhile the DAX pushed lower by 0.3%.
EURUSD currently trades down 0.11% intraday following the prospect of higher interest rates in the US.USD
US Officials have disputed Russian claims that the withdrawal of troops is underway, stating to the contrary that 7,000 additional troops have been moved into the region. Russian-backed separatists have overnight claimed that ceasefire rules have been violated by Ukrainian forces.
Minutes from the FOMC Jan meeting highlighted that the Fed discussed preparations to accelerate interest rate hikes (beginning in March), which would be implemented if prices continue to destabilize.
Following the RIA Novosti report yesterday, US stocks fell during yesterday’s session. The NASDAQ closed 0.8% lower and the S&P 500 lost 0.6%. US retails sales jumped by 3.8% in January.ASIA/PACIFIC
Japan’s exports gained 9.6% in January, slowing from a Christmas bump of 17.5%. Imports jumped 40% as higher energy costs make imports increasingly attractive.
Singapore’s GDP Is projected to expand 3% this year, as the government also upgraded 2021 growth by 0.4%.
In the Asian session, The CSI and Hang Seng finished 0.24% and 0.3% higher, meanwhile the Nikkei fell 0.83%.ILS
USDILS currently trades close to the 3.2000 level, gaining 0.44% throughout the Asian session. The pair trades 1.7% lower from weekly highs of 3.2678.
Israeli gas producers are in talks to begin exporting to Egypt, meanwhile YTD bond sales currently sit at $3.93 billion.Data & Events
EU – ECB publishes economic bulletin
IT – Dec Trade balance
ES – Sells Bonds
FR – Sells Bonds
G20 – Finance ministers meet in Jakarta
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