Market Update

The Ukrainian Armed Forces said in a statement that on Wednesday, February 23, they began recruiting reservists between the ages of 18 and 60, in implementation of a decree issued by President Volodymyr Zelensky. She added that the maximum service period is one year. Zelensky said on Tuesday that he …

Oil prices jumped close to $100 a barrel on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, but the market pared gains to close to its highest level since 2014 following efforts by Western countries to halt what they fear may be the start of a …

Relatively short wave of optimism touched financial markets during London trading hours, as Ukrainian President V. Zelenskyy said that he believes there would not be war nor a wider escalation. Economic DataMarkit flash PMIs for the EU, and the US were generally encouraging, indicating economic expansion in February as the …

Gold: US Bliken’s Remarks Impact market sentiment Gold prices were trapped in a range as sellers emerge to sell the news on Russia. Fed is moving back into focus as the Russian risk premium starts to decay. Traders watching for further deployment of Russian troops in expanded borders of Donetsk …

The US equities recovered from intra-day lows on Tuesday in wake of US President Joe Biden’s announcement of new sanctions targeting Russian banks, sovereign debt and wealthy individuals, joining the UK and EU who had already announced similar measures.After Biden’s remarks, where he urged that the door for diplomacy remains …

In choppy trading conditions as currency market participants observe developments in the rapidly escalating Russia-Ukraine crisis saw USD/CAD rally to test a key level of resistance in the upper 1.2700s on Tuesday. The pair has since pulled back from session highs in the 1.2780s to near the 1.2750 mark, where …

Washington and its allies called the Kremlin’s recognition of two separatist regions a blunt defiance of international law that risks war. Western officials said Russian troops have entered eastern Ukraine.US President Biden on Tuesday announced harsh new sanctions aimed at punishing Russia for what he called “the beginning of a …

US President Joe Biden, in a national address on Tuesday, called the latest steps by Russia to recognize the independence of breakaway regions in eastern Ukraine, as well as to move troops into the area, the beginning of a Russian invasion of Ukraine.Biden’s speech comes amid calls by Lawmakers across …

Directors at three of the Federal Reserves regional banks voted to increase the discount rate, or interest rate charged on commercial banks for emergency loans, ahead of the January FOMC meeting.Minutes released on Tuesday showed that rate hike recommendation came from the directors at the Federal Reserve banks of Cleveland, …

The economic activity in the US manufacturing sector continued to expand in February, at a faster pace than it did in January, with IHS Markit’s Manufacturing PMI rising to 57.5 (preliminary) from 55.5. This fresh reading came in above market’s expectation of 56.0. The pace of economic growth accelerated sharply …