Euro Teetering On The Edge
Euro maintains a solid footing today though anticipated to face some challenges in the coming days after Biden NATO visit.
The US president physically joining the EU summit today is quite historic for diplomacy in Europe. Their efforts to further sanction Russia to speed an end to the conflict may be well-meaning, but the global markets have to be prepared for the cost.
The recent trading sessions saw the price of the EUR/USD currency pair moving in narrow ranges. The pair grows more vulnerable to losses as the war intensifies.
The Fed’s soft-landing last week caused a realignment in the markets. The US session saw bond markets recovered considerably while equities plummeted. Asia-Pacific equities struggled as the world economy continues to reel from high energy and metal prices.
Putin to Switch Gas Invoicing to Roubles
In an apparent effort to boost the country’s currency, the Russian president announced that Russia will begin to require European gas buyers to pay in Roubles.
Following this announcement, Brent crude oil traded higher due to a drastic decline in oil stock as the demand pushes on.
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