Roller coaster

Financial markets continue to move in tandem with news from the Russian-Ukrainian border. At the end of last week, there was widespread pessimism ahead of a Russian attack that the US administration said was “imminent”. The French and German governments called on their citizens to leave Ukraine. The trend reversed overnight after the Russian and US Presidents agreed in principle to a Summit proposed by the French President (on condition that Russia did not launch a military offensive in the meantime). Futures rebounded on the equity markets and the US dollar fell sharply (from 1.131 before the news to 1.1375 now against the euro). Bond yields are little changed.

What happens in Eastern Europe should remain the main market mover today, especially as US markets are closed for Presidents DayJapan’s services PMI plunged in February due to the Omicron wave, but activity should soon recover. The 1st estimates of the Eurozone and UK PMIs will be released as well today, but Improvement is expected in services. The UK Prime Minister is expected to announce today the end of the anti-Covid measures.

China’s property prices 
fell for the fifth month in a row and the new default of a property developer considered among the strongest is a major concern. 

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

December 17, 2021

And now the French nuclear crisis

The European energy crunch entered a new phase on Thursday with an extreme spike in French power prices mirroring similar moves observed in Japan or Texas…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Don’t have an account yet?  Sign up here!