Hopes for peace but what about sanctions?
Markets reacted strongly yesterday to Russia’s announcement of a significant reduction in military activity in the Kiev region. Many saw this as confirmation of progress…
Limited market moves again yesterday, as Fed members continued to send mixed signals on monetary policy. Preliminary PMIs confirmed the strength of activity growth but also raising tensions on production costs. The economic agenda is full today with in addition, a Bank of England meeting and many Fed speakers again. The EUR/USD exchange rate remains rather stable around 1.19.
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