Market Update

European Central Bank Governing Council member Mario Centeno said on Wednesday that the Russo-Ukraine war could lead to a stagflation scenario depending on the duration of the conflict and the European response.The exclusion of the Russian economic area via sanctions will have a devastating impact on Russia’s economy, Centeno added.Beyond …

EUR/USD is stalling on its advance in later trade on Wall Street as the price moves into what would be expected to act as a resistance area on the hourly chart. At 1.1129, the price is trading near flat on the day after climbing from a low of 1.1057 to …

The United States is determined to continue to impose severe consequences on Putin and Russia over Ukraine war. US Treasury Secretary Janet Yellen said on Wednesday that the US will continue to impose severe consequences on Russian President Vladimir Putin and Russia over the invasion of Ukraine.Russia will increasingly become …

Bank of England Monetary Policy Committee Member Silvana Tenreyro said on Wednesday that the latest rise in oil prices will increase inflation and dampen UK economic activity. The high level of companies wage expectations in the BoE’s latest Agents’ survey was a surprise, though we will have to see if …

On Wednesday, the Fed’s Beige Book for March 2022 was released citing the word “modest” 52 times, “moderate” mentioned 47 times and “Uncertainty” 11 times. Some traders guess a lot of what happens today and tomorrow will depend on the Fed’s Beige book Key QuotesEconomic activity has expanded at a …

The United States is open to imposing sanctions on Russia’s oil and gas industry but going after its exports now could help Moscow, the White House said on Wednesday as oil prices touched eight-year highs and supply disruptions mounted.The White House is considering hitting Moscow’s vast energy sector over Russia’s …

The 10-year Treasury yield climbed above 1.8% Wednesday as Federal Reserve Chairman Jerome Powell offered an unusual degree of transparency for a Fed Chair, indicating that he endorses a quarter-percentage point increase when the central bank concludes its two-day policy meeting on March 16. Wednesday’s trading brought a respite to …

The Canadian dollar strengthened against its US counterpart on Wednesday as oil prices surged and the Bank of Canada hiked interest rates as expected for the first time since October 2018 despite the crisis in Ukraine.Canada’s central bank hiked its key interest rate by 25 basis points to 0.50% to …

A US official said on Wednesday that the US assesses there have been no significant changes on the ground in Ukraine since Tuesday and that Russian force numbers in Ukraine have slightly increased, reported Reuters. There has been an increase in the Russian’s use of missiles and artillery target Kyiv, …

A Russian negotiatorssaid on Wednesday that a potential ceasefire will be discussed in upcoming talks with the Ukrainian delegation, reported Russia’s Interfax.The Russian delegation is waiting for talks with their Ukrainian counterpart in a second round of negotiations.Satellite images showed a 40-mile-long Russian military convoy approaching Ukraine’s capital of Kyiv …