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Notices To air missions, Russian “operations” begin

Once again, the relief rally has quickly reversed course, and once again the culprit is the Ukraine situation. The Ukrainian government declared a state of emergency across the nation and Russia issues notices to airmen (NOTAM’s) closing eastern Ukrainian airspace to civilian aircraft, something they cannot legally do but that hasn’t bothered them so far.

24-02-2022 04:13 GMT by Jeffrey Halley

Oil volatile, gold edges higher

Oil rallies on invasion fears Crude prices rallied reports that the Biden administration expects Russia to invade Ukraine within 48 hours. Oil extended the rally after Ukraine was hit with another cyberattack. The Ukraine situation seems to be heading towards a pivotal moment a lot sooner than everyone was hoping for and that means oil prices could surge here. An immediate run towards USD 100 oil is still in the cards, but the rising prospects that an Iran nuclear deal could be reached in th

23-02-2022 13:54 GMT by Edward Moya

Volatile equities session, Lowes delivers, bitcoin steadies

US slaps Russia with soft sanctions President Biden’s sanctions on Russia were about as harsh as my disciplining my daughter when she gives me puppy dog eyes. US stocks tentatively rebounded as some cash-strapped investors could not pass up buying the S&P 500 at a 10% discount and on the soft start of sanctions against Russia. It is hardly far from a de-escalation of tensions, but many traders thought the sanctions against Russia were going to be hard-hitting and send a message to Moscow. Ins

23-02-2022 13:50 GMT by Edward Moya

Euro yawns after soft German confidence data

The standoff in Ukraine continues to escalate, but the financial markets remain calm for now. The US and other western nations have slapped further sanctions on Russia after Moscow sent troops to two breakaway regions in eastern Ukraine.

23-02-2022 11:58 GMT by Kenneth Fisher

Stock markets cautiously higher

Stock markets are back in positive territory on Wednesday as investors await Russia's response to initial sanctions from the West. Tensions have obviously increased this week following Putin's decision to recognise the independence of two separatist regions in Ukraine but investors are not particularly deterred. We've seen plenty of risk aversion at times in recent weeks as the situation has escalated but as we've seen over the last 24 hours, the dips are still attracting interest. As long as

23-02-2022 11:12 GMT by Craig Erlam

AUD extends gains, wage growth rises

Australian wage inches higher Australian wage growth edged higher in the fourth quarter, rising 2.3% YoY, just shy of the consensus of 2.4%. On a quarterly basis, wages rose 0.7%, matching the forecast.

23-02-2022 10:25 GMT by Kenneth Fisher

NZD flies as risk appetite returns

The New Zealand dollar has accelerated its rally, and is up 0.86% on the day, as NZD/USD trades just shy of the 0.68 level. Sanctions softer than expected The US and other western nations have slapped further sanctions on Russia, after Moscow sent troops to two breakaway regions in eastern Ukraine. Still, the financial markets breathed a sigh of relief as the sanctions were less severe than expected.

23-02-2022 06:15 GMT by Kenneth Fisher

Oil rises, gold holds, silver break out?

Oil prices remain elevated Oil prices spiked higher on Ukraine developments yesterday, with Brent crude peaking for a short time, above USD 99.00 a barrel. Following the US and Europe sanctions announcement, oil rapidly gave back its intraday gains, finishing slightly lower than yesterday morning’s opening.

23-02-2022 05:21 GMT by Jeffrey Halley

US dollar holds steady

Dollar pares gains as West imposes sanctions Currency markets had plenty of intra-day volatility overnight, bounced around on Ukraine headlines and Russian sanctions. Ultimately, the softer than expected sanctions won the day and the US dollar gave back all its early session gains, with the euro and Australian and New Zealand dollars outperforming as arbiters of global risk sentiment.

23-02-2022 05:13 GMT by Jeffrey Halley

Equities recover as US announces sanctions

Asian equities stage a sanctions dead-cat bounce A sense of “it could have been worse” swept New York late in the session after the White House announced its incremental Russian sanctions. That allowed US equities to reverse some of their losses, helped by decent economic data, but they still finished in the red.

23-02-2022 04:53 GMT by Jeffrey Halley

Powder puff sanctions boost markets

Equities rebound after new sanctions on Russia Equity markets in New York recovered some of their losses overnight, and markets in Asia are cautiously higher after the US and Europe imposed new sanctions on Russia after it formally recognised two breakaway provinces of the Ukraine and started moving peacekeeping military equipment into them. Markets though, breathed a sigh of relief that the sanctions were not more sweeping and aggressive, allowing oil, the US dollar and gold to ease slightly,

23-02-2022 04:35 GMT by Jeffrey Halley

Oil pares gain, investors love gold

Oil dips as Iran/US talks progress The oil price rally has hit a tentative wall as Ukrainian tensions cannot overcome the prospects of additional Iranian supply and possibly more crude output from OPEC+. Yesterday, Iran Foreign Ministry spokesman Khatibzadeh noted that significant progress has been made in reviving the 2015 nuclear deal.

22-02-2022 14:15 GMT by Edward Moya

Stocks struggle on Ukraine tensions, consumer confidence weakens, bitcoin steadies

Wall Street is debating what will be the impact that regional warfare will have on US stocks. The contagion risk will completely feed into inflationary pressures as energy costs will skyrocket and that will derail large parts of the economic recovery coming out of COVID. Geopolitical risks could lead to a slower growth cycle and that could remove the risk of a half-point Fed rate hike at the March 16th FOMC decision. Risk appetite will start to see some support as investors start to price in a

22-02-2022 14:11 GMT by Edward Moya

Aussie rises, wage growth next

Australian wage growth expected to rise Inflation continues to be a hot topic in Australia, and wage growth for February will be released early on Wednesday. Wage growth is expected to have risen 0.7% q/q, up from 0.6% in January.

22-02-2022 12:19 GMT by Kenneth Fisher

Brent Crude - $100 in sight?

Momentum building as Russia moves closer to invading Ukraine Brent crude came within a whisker of $100 today for the first time since September 2014 before profit-taking kicked in. Will it eventually capture this level? There's been a number of times in recent months when $100 oil has been thrown around like it's a case of when rather than if it will hit that massive psychological level. The shortfall of supply from OPEC+ which continues to fail to hit its targets by ever-widening margins, co

22-02-2022 11:35 GMT by Craig Erlam

New Zealand dollar hits 4-week high

RBNZ poised to raise rates The last time the RBNZ held a meeting was back in November, which seems like eons ago. RBNZ policy makers will meet on Wednesday, and a rate hike is widely expected, as the RBNZ moves to normalize policy.

22-02-2022 11:32 GMT by Kenneth Fisher

Oil closing in on USD 100, gold dips

Oil eyeing USD 100 after Ukraine escalation While stock markets are enjoying a partial recovery, oil and gas prices remain elevated as a conflict in Ukraine significantly increases the risk of disruptions to Russian supply. While there is reportedly no desire to intentionally restrict supplies in the face of further escalation, assurances will be taken with a pinch of salt given recent developments. The market remains extremely tight for oil and gas and the risk of disruption will result in a

22-02-2022 10:47 GMT by Craig Erlam

Another day, another rollercoaster ride

Volatility is the only thing that appears to be certain in the markets right now, as European stocks pare losses to even sneak into positive territory on the day while US futures now eye only a small decline after the bank holiday weekend. The old adage goes that the market hates uncertainty and while that has clearly been evident at times over the last couple of weeks, there's no doubt that investors continue to be tempted back in at the slightest hint of diplomacy winning the day. Even after

22-02-2022 10:43 GMT by Craig Erlam

Euro rises despite Ukraine escalation

Putin sends "peacekeepers" into eastern Ukraine Panicky investors? Risk-off market?

22-02-2022 06:54 GMT by Kenneth Fisher

Market Insights Podcast (Episode 297)

OANDA Senior Market Analyst Craig Erlam reviews the day's market news with Jonny Hart. They discuss the latest in Ukraine and how the markets are responding.

22-02-2022 05:14 GMT by Craig Erlam

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