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The prevalent negative market sentiment on Monday coincided with broader Russian attacks on Ukraine, firing multiple missiles that targeted communication and energy targets in and around Kyiv.
Economic Data
The economic calendar featured no significant economic data during the US session.
Other Developments
The US dollar extended last week’s momentum and rose on Monday against most of its major rival currencies as risk aversion dominated financial markets.
Risk aversion also impacted global stocks that had to close in the red territory, reflecting market concerns.
The Bank of England announced additional monetary measures to support the financial system. BoE doubled its temporary QE bond purchases to £10 billion per day for the upcoming days, although buying should end on Friday.
The dollar appreciated against safe-haven rivals, with USD/CHF now trading at around parity and USD/JPY reaching 145.70, approaching the highs that triggered BOJ’s intervention.
The EUR/USD pair settled at around 0.9700, while GBP/USD finished the day in the 1.1050 price zone. AUD/USD fell to 0.6274 a fresh 2-year low. USD/CAD trades around 1.3760 as crude oil prices give up on the dismal market’s mood.
Gold currently changes hand at $1,667 a troy ounce while WTI fell to $90.60 a barrel. The focus this week will be on the awaited US Consumer Price Index, to be out on Thursday.
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