Ratings agency Moody’s said Thursday that it has downgraded Russia’s long-term and unsecured credit rating to B3 from Baa3, attributing this to tough sanctions imposed by Western countries on Moscow. The agency added that the ratings are still under review for a further downgrade.
Read More »Market Drivers – US Session – 2 March
The most significant driver across financial markets on Wednesday was the testimony by Fed Chair Jerome Powell before Congress. Powell’s testimony will continue on Thursday with hints on determination to adopt QT and decide interest rate hilke in FOMC’s 16 March meeting. Economic DataPrivate employers hired more workers than expected …
Read More »ECB’s Centeno: Ukraine Conflict To Bring About Stagflation Scenario
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 …
Read More »Yellen Vows Tighter Sanctions Against Russia
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 …
Read More »US: Sanctions On Russian Energy On The Table
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 …
Read More »US Equities Slide Amid Concerns On Western Sanctions
US equities are sharply lower on Tuesday’s US session as investors express concerns and fret about the global economic impact of the West’s harsh sanctions against Russia.Russians intensified bombardment of Ukrainian cities. Commodity prices, including crude oil, natural gas and wheat, surged on Tuesday, igniting further concerns about longer-lasting inflationary …
Read More »Economic Plans, Sanctions In Focus As Biden Delivers First State of the Union Address
US President Biden will deliver his first State of the Union address Tuesday, within a few hours, as he seeks to contain the impact of the running war in Ukraine, guide the US and its economy through the Covid-19 pandemic, and help buoy Democrats in November’s midterm elections.Biden will juggle …
Read More »Putin Prohibits Foreign Currency Shipments From Russia
Russian President Vlademir Putin has issued a directive prohibiting foreign currency shipments from Russia in amounts greater than $10,000 as of Wednesday 2 March according to Kremlin’s statement. As the Western sanctions aim to cripple the Russian economy, this latest move could be a sign that Putin is concerned. The …
Read More »Poland’s Morawiecki: Ukraine Crisis Existential Threat To Peace In Europe
Polish Prime Minister Mateusz Morawiecki said on Tuesday that conflict in Ukraine is an existential threat to peace in Europe. Poland is ready to introduce an immediate embargo on Russian coal imports, he added, and all they need is the green light from Brussels. Morawiecki proposed that the EU should …
Read More »What Russia’s SWIFT Ejection Really Mean Amid War Fogs
Filtering information is one of investors’ most important tasks. It is normally a difficult task under the best conditions, but right now, amid the fog of war, filtering information is nearly impossible.Away from reports, fake images and news from Russia and Ukraine, the fog is also engulfing a lot of …
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