Major RISK OFF mood in markets as they believe weekend announcements, unlike initial sanctions, will have significant impact. Rouble down 30% at record lows, Russian central bank has doubled a key rate to 20% from 9.5% and is openly buying gold. Oil futures rallied well over $100/barrel. Safe havens of USD, JPY, Government Bonds and Gold all in demand. EUR, AUD, NZD stocks and yields all lower.
Week Ahead - Dominated by news from Ukraine; BoC & RBA policy meetings & a heavy dose of global data releases including GDPs, PMIs, US ADP and NFP data.
Today – Russian-Ukrainian officials meeting; US Chicago PMI; ECB’s Lagarde, Panetta; Fed’s Bostic; EU’s von der Leyen; China’s Foreign Minister Yi; Earnings ABF, Baidu.
Biggest FX Mover @ (07:30 GMT) EURJPY (-0.80%) Collapsed from Friday's close over 130.20 to 128.50 lows & trades over 129.00 now. MAs remain aligned lower, MACD signal line & histogram below 0 line, RSI 49.77 & rising, OB zone, H1 ATR 0.367, Daily ATR 1.2850.
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