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Yen slips on better chance of peace

Posted: 14 Feb 2022 05:19 AM PST

Every headline on the Russia-Ukraine situation is either a step closer to war or a step further away. The Lavrov comments from earlier suggest a continued window for diplomacy as he said there is a way to move forward. Putin signaled that talks with the US and NATO will continue. Earlier, t

ForexLive European FX news wrap: Russia-Ukraine war drums continue to beat

Posted: 14 Feb 2022 04:58 AM PST

Headlines:Russia's Lavrov: EU, NATO response to security proposals have been unsatisfactoryKremlin says if Ukraine renounced joining NATO, it would significantly address concernsG7 finance ministers say prepared to impose economic, financial sanctions on RussiaUkraine ambassador to UK: Ready for co

S&P 500 futures turn positive on Lavrov's comments

Posted: 14 Feb 2022 04:48 AM PST

Of note, Lavrov mentioned that "I propose to continue our diplomatic work" and that while "indefinite talks are not possible, there is always a chance for an agreement". That is giving the market some comfort as equities and risk trades rebound from earlier losses.S&P 500 futures have turned around

Russia's Lavrov: EU, NATO response to security proposals have been unsatisfactory

Posted: 14 Feb 2022 04:44 AM PST

We can see a way to move forward with talksBut our proposals should be taken into account as a wholePropose to continue diplomatic workIndefinite talks are not possible, always chance for an agreementHe's sounding a little more cordial even if the headline isn't exactly so. The other remarks aren't

UK PM spokesman: There is a grave possibility of Russian invasion of Ukraine this week

Posted: 14 Feb 2022 04:17 AM PST

Meanwhile, an EU official is also out saying that Biden-Putin talks have not delivered a lot (to no one's surprise honestly) and that they are not sure if Moscow has already decided on Ukraine or that it is "bluffing".But both the EU and UK are reaffirming that they will be ready to impose sanctions

Heads up: Fed's Bullard to speak on monetary policy later in the day

Posted: 14 Feb 2022 03:42 AM PST

After his now infamous remarks last week here, be sure to keep your eyes and ears peeled on more Fedspeak in the weeks ahead. Let's see if Bullard will stick with his guns later today. When you factor in all his comments in the past few years, the guy is unreal to say the least.

Kremlin says if Ukraine renounced joining NATO, it would significantly address concerns

Posted: 14 Feb 2022 02:21 AM PST

Does not see Ukraine envoy's comments on NATO as an official change in positionSays Putin and Germany's Scholz will discuss Ukraine, security guaranteesWell, I don't think the remarks by Prystaiko matter too much because he walked back on them later on here. In any case, there isn't much of a new de

Russia ready to open fire on foreign ships that illegally enter its territorial waters

Posted: 14 Feb 2022 02:10 AM PST

But any decision to open fire would only be taken at the 'highest level'The first few words of the headline i.e. "open fire" were a bit spicy, not gonna lie. But this seems to be Russia just standing their ground in case there is interference from other parties. I doubt that this is a new developmen

G7 finance ministers say prepared to impose economic, financial sanctions on Russia

Posted: 14 Feb 2022 01:09 AM PST

In the event that there is any further military aggression by Russia, it will be met with a swift, coordinated, forceful responsePrepared to collectively impose economic, financial sanctions which will have massive and immediate consequences on Russian economySome big talk being put out here but aga

SNB total sight deposits w.e. 11 February CHF 725.1 bn vs CHF 725.0 bn prior

Posted: 14 Feb 2022 12:59 AM PST

Domestic sight deposits CHF 661.6 bn vs CHF 659.5 bn priorPrior week's release can be found here. Not much change in overall sight deposits as the SNB was presumably more comfortable with how things have been progressing up until before the Russia-Ukraine headlines hit. We'll see if they have the ap

Equities stumble as risk aversion grips

Posted: 14 Feb 2022 12:50 AM PST

European indices are mostly down by over 3% on the day now and we are seeing further bids in bonds - leading to a strengthening in the yen and dollar as well on the session. US futures are also tumbling with S&P 500 futures down 0.8%, Nasdaq futures down 0.9%, and Dow futures down 0.8% as well curre

Risk aversion strengthens in European trading

Posted: 14 Feb 2022 12:41 AM PST

European indices are now down well over 2% with the CAC 40 and Italy FTSE MIB posting over 3% losses on the day. This comes as a bout of risk aversion is kicking in on the session, with US futures also dragged lower now. S&P 500 futures are down 0.5% and Nasdaq futures down 0.6% after having held up

Oil pares gains on the day as traders weigh Russia-Ukraine tensions

Posted: 14 Feb 2022 12:35 AM PST

The low in the past 15 minutes hit $92.83 before bouncing back a little to around $93.30 currently. Among the trades which will be most susceptible to any headlines involving Russia and Ukraine, oil has to be on the top of the list. As things stand, tensions are still running high but there is also

Dollar, yen keep firmer to start European morning trade

Posted: 14 Feb 2022 12:22 AM PST

Commodity currencies and the pound are the laggards as we get things going in Europe. The aussie and kiwi are the main laggards with AUD/USD down 0.3% to 0.7112 and NZD/USD down 0.5% to 0.6614 on the day. EUR/USD is also down slightly to 1.1330 - its lowest since 3 February when ECB president Lagard

European equities open lower to kick start the day

Posted: 14 Feb 2022 12:12 AM PST

Eurostoxx -1.5%Germany DAX -2.3%France CAC 40 -2.1%UK FTSE -1.2%Spain IBEX -2.7%The downdraft in Wall Street on Friday came after the European close, so the losses above are in part to do with that. But in general, the market mood is on a knife's edge still and that is weighing on overall sentiment

Ukraine ambassador to UK: Ready for concessions to avoid war, but nothing to do with NATO

Posted: 13 Feb 2022 11:36 PM PST

To avoid war, we are ready for many concessionsBut they have nothing to do with NATOCommitment to NATO membership is enshrined in Ukrainian constitutionUkraine not delaying ambitions to join NATOThis adds to remarks earlier by the spokesperson to Ukraine's president, Volodymyr Zelenskiy, that the co

Switzerland January producer and import prices +0.6% vs -0.1% m/m prior

Posted: 13 Feb 2022 11:30 PM PST

Prior -0.1%Producer and import prices +5.4% y/yPrior +5.1%Producer prices continue to tick higher in Switzerland, much like the rest of the region - reaffirming stronger inflation pressures in general. Of note, petroleum and natural gas saw higher prices in particular on the month. The good news for

Eurostoxx futures -1.8% in early European trading

Posted: 13 Feb 2022 11:18 PM PST

German DAX futures -1.7%UK FTSE futures -0.7%Spanish IBEX futures -1.7%This in part owes to some catch up to the losses in Wall Street on Friday, with the selling having hit after the European close. The market mood is less dour today but remains on a knife's edge. US futures are little changed and

Trade ideas thread - European session 14 February 2022

Posted: 13 Feb 2022 10:33 PM PST

There's only a couple of ways to play markets at this point in time.First is that you're betting on real fear in that Russia-Ukraine tensions will escalate into a war scenario. Second is that you're betting tensions will ease as the reported invasion will be not materialise or that either Russia or

Little on the agenda coming up in Europe today

Posted: 13 Feb 2022 10:10 PM PST

Markets are sitting on edge as Russia-Ukraine tensions are paralysing trading conditions at the moment.The next few days are going to be critical and it is all about the headlines at this stage. The key question is are we going to see a war break out and that is what market participants are keenly e

Buy value, sell hysteria

Posted: 13 Feb 2022 09:16 PM PST

Russia-Ukraine tensions are the on the front page and that is seeing fear engulf markets at the moment.The mood is somewhat calmer today but sentiment is sitting on the edge. Any gun fire (literally) and everything will start running and cowering in terror as we saw towards the end of last week.Oil

The busiest US-Canada bridge has now reopened

Posted: 13 Feb 2022 08:35 PM PST

Ambassador Bridge is a key border crossing. The shut down stopped truck traffic, causing drivers to have to divert over three to four hours and slowing auto production in the region.  "The Detroit International Bridge Company is pleased to announce that the Ambassador Bridge is now fully open a

New Zealand to shorten coronavirus isolation time

Posted: 13 Feb 2022 08:12 PM PST

New Zealand referring to the new rules as "Phase 2"rapid antigen testing (RATs) may be used more widelyshorter isolation times (shortening of isolation times for contacts from 10 days to 7)digital communication with close contacts or contacts will be usedFully vaccinated critical employees in certai

ForexLive Asia FX news wrap: Worries over Ukraine persist

Posted: 13 Feb 2022 07:57 PM PST

Poll says People's Bank of China interest rate to be left unchanged on Tueday RBNZ rate hikes ahead priced in - downside risk for NZD UK wages - biggest pay rises in nearly a decade coming China inflation data due mid-week - CPI in China is low PBOC sets USD/ CNY mid-point toda

UK wages - biggest pay rises in nearly a decade coming

Posted: 13 Feb 2022 06:08 PM PST

Remember this tone-deaf comments from Bank of England Governor Bailey:Islam : Are you trying to get into people's heads & ask them not to ask for too high a pay rise?Bailey: Broadly yesReuters report on a survey conducted by the Chartered Institute of Personnel and Development (CIPD):Planned median
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