Market Update

Oil prices have witnessed considerable choppy performance on Tuesday, with front-month WTI futures at one point hitting fresh seven-year highs at the $96.00 level, before pulling back sharply to below $93.00. Choppy trade conditions are being driven by the unusually high level of uncertainty pertaining to ongoing escalation of the …

Any Russian incursion into Ukraine would have far-reaching economic repercussions for global economies. There will be surely winners and losers. In this particular crisis, China will likely benefit from diversion of Russian exports. Energy Sanctions on Russian gas by the United States and its allies could pay dividends for China, …

The head of the Russian parliament said on Tuesday that Russian President Vladimir Putin had asked for permission to use Russian troops abroad. The Russian parliament will now vote on this request. Presumably, this refers to Russia’s plans to set up military bases in the pro-Russia breakaway regions of Eastern …

The EUR/GBP jumped on Tuesday from two-week lows near 0.8300 to 0.8382, reaching the highest level since last Wednesday. On American hours it is pulling back, trading back under 0.8350, after being unable to hold above the 20-day simple moving average (0.8370).The sterling pound weakened earlier on Wednesday following comments …

According to the latest Consumer Confidence survey conducted by the US Conference Board, US Consumer Confidence fell to 110.5 in February from 111.1 in January. That was a smaller drop than the expected decline to 110.0. The Present Situation Index rose to 145.1 from 144.5 last month, while the Consumer …

The price of gold retreated from its highest level since June on Tuesday, but the escalation of tension in eastern Europe could keep the demand for it driven as a safe haven. And gold fell in spot transactions 0.5% to $ 1895.76 an ounce, after hitting its highest level since …

The US State Department said that more Russian troops, not fewer, are on the Ukraine border and they’re moving concerningly into fighting positions. However, they say there is still room for diplomacy unless they make the decision to go in. The latest Ukrainian intelligence report shows no evidence of Russian …

German Chancellor Olaf Scholz postponed the Nord Stream 2 gas pipeline certification, designed to bring Russian gas to Germany on Tuesday after Russia formally recognized two breakaway regions in eastern Ukraine. The €10 billion pipelines, which were recently completed but not yet operational, transported 55 cubic meters of natural gas …

The Research Center at Bank of America expected the price of Brent crude oil to reach the level of 120 dollars per barrel by the middle of this year. Today, the price of oil rose to its highest level since 2014, following Russia’s recognition of the separatist republics in eastern …

The headline German IFO Business Climate Index improved to 98.9 in February from 96 (revised from 95.7 in January). This reading came in higher than the market expectation of 96.5. The Current Assessment Index rose to 98.6 from 96.2 and the Expectations Index advanced to 99.2 from 95.8. Both of these …