Posted at 14 February 2022 / Categories Market Roundups
Market Roundup
• Swiss Jan PPI (MoM) 0.6%, -0.1% previous
• Swiss Jan PPI (YoY) 5.4%,5.1% previous
Looking Ahead Economic Data (GMT)
• 14:00 French 3-Month BTF Auction-0.654% previous
•14:00 French 6-Month BTF Auction-0.627% previous
•14:00 French 12-Month BTF Auction -0.470% previous
•16:30 US 3-Month Bill Auction 0.290% previous
•16:30 US 6-Month Bill Auction 0.580% previous
Looking Ahead - Events, Other Releases (GMT)
• 16:00 US FOMC Member Bullard Speaks
• 16:15 ECB President Lagarde Speaks
Fxbeat
EUR/USD: The euro declined against dollar on Monday as traders were on edge about the prospect of war in Europe and unsettled by soaring inflation. The risk of war in Ukraine pushed the euro down on Friday and it was nursing losses at $1.1346 on Monday, well below last week's top of $1.1495. Later on Monday, European Central Bank President Christine Lagarde addresses the European Parliament and St Louis Fed President James Bullard, who roiled markets with hawkish comments in the wake of last week's inflation data. The euro was down 0.4% at $1.1301, its lowest level since Feb. 3. Immediate resistance can be seen at 1.1350 (38.2%fib), an upside break can trigger rise towards 1.1384(5DMA).On the downside, immediate support is seen at 1.1300(50%fib), a break below could take the pair towards 1.1248 (61.8%fib).
GBP/USD: Sterling declined against dollar on Monday as geopolitical risks over Ukraine weighed on sterling. Comments from the United States about an imminent attack by Russia on Ukraine have rattled global financial markets. Focus is now on Ukraine's intent to join the North Atlantic Treaty Organization, a move Russian President Vladimir Putin has said would be a trigger for war. The dollar index rose 0.4% to 96.351, its highest since Feb. 1,at 1133 GMT. Sterling was trading down against dollar 0.30 % at $1.3509. Immediate resistance can be seen at 1.3575(38.2%fib), an upside break can trigger rise towards 1.3646(Higher BB).On the downside, immediate support is seen at 1.3496(50%fib), a break below could take the pair towards 1.3413(61.8%fib).
USD/CHF: The dollar initially gained against Swiss franc on Monday but gave up ground as warning from the United States that Russia could invade Ukraine at any time pushed investors to safe-haven assets such as Swiss franc.Western countries have accused Russia of preparing to invade Ukraine, while Moscow denies it has such plans. Biden told Putin in a phone call on Saturday that the West would respond decisively to any invasion and such an attack would harm and isolate Moscow. Immediate resistance can be seen at 0.9280 (23.6%fib), an upside break can trigger rise towards 0.9316 (Higher BB).On the downside, immediate support is seen at 0.9228(38.2% fib), a break below could take the pair towards 0.9186(50%fib).
USD/JPY: The dollar held near three months high against yen on Monday as warnings that Russia could invade Ukraine at any time drove demand for safe haven yen.The United States said on Sunday that Russia could invade Ukraine at any time and might create a surprise pretext for an attack. Russia has repeatedly denied it is planning an invasion. Russia has more than 100,000 troops massed near Ukraine, which is not part of the Atlantic military alliance, and Washington - while keeping open the diplomatic channels that have so far failed to ease the crisis .Strong resistance can be seen at 115.45(23.6%fib), an upside break can trigger rise towards 116.00(Psychological level).On the downside, immediate support is seen at 114.94(50%fib), a break below could take the pair towards 114.54(61.8%fib).
Equities Recap
European shares slipped on Monday on rising worries over escalating Ukraine-Russia tensions and the prospect of a tightened interest rate hike timeline from the U.S. Federal Reserve.
At (GMT 12:24 ),UK's benchmark FTSE 100 was last trading down at 2.02 percent, Germany's Dax was down by 3.24 percent, France’s CAC was last down by 3.44 percent.
Commodities Recap
Gold prices fell on Monday, as the U.S. dollar gained, with worries around the Russia-Ukraine conflict limiting losses of the safe-haven metal and keeping palladium traders on tenterhooks.
Spot gold was down 0.2% to $1,855.86 per ounce by 1030 GMT. On Friday, prices jumped the most since mid-October and hit their highest level since Nov. 19 at $1,865.15.U.S. gold futures rose 0.6% to $1,853.70.
Oil steadied on Monday after earlier hitting its highest in more than seven years on fears that a possible Russian invasion of Ukraine could trigger U.S. and European sanctions that would disrupt exports from one of the world's top producers.
Brent crude was up 11 cents, or 0.1%, at $94.55 a barrel by 1107 GMT, after earlier hitting a peak of $96.16, the highest since October 2014.
U.S. West Texas Intermediate (WTI) crude rose 9 cents, or 0.1%, to $93.19 a barrel, after earlier hitting $94.94, the loftiest since September 2014.