Market Roundup
• Sweden Jan Unemployment Rate 8.3%, 7.3% previous
• Swiss Employment Level (Q4) 5.239M, 5.213M previous
• French Feb Consumer Confidence 98, 100 forecast, 99 previous
• Italian Dec Industrial Sales (MoM) -2.10%,2.40% previous
•UK Feb CBI Distributive Trades Survey 14 ,25 forecast 28 previous
Looking Ahead - Economic Data (GMT)
•13:30 US Jan Chicago Fed National Activity -0.15 previous
•13:30 Canada Jan Manufacturing Sales (MoM) 0.7% previous
•13:30 US Initial Jobless Claims 235K forecast,248K previous
•13:30 US Jobless Claims 4-Week Avg 243.25K previous
•13:30 US Continuing Jobless Claims 1,580K forecast, 1,593K previous
•13:30 US Corporate Profits (QoQ) (Q4) 3.4% previous
•13:30 US GDP Price Index (QoQ) (Q4) 6.9% forecast,7.0% previous
•13:30 US GDP (QoQ) (Q4) 7.0% forecast,6.9% previous
•15:00 US Jan New Home Sales 806K forecast, 811K previous
•15:00 US Jan New Home Sales (MoM) 11.9% previous
•16:00 US Gasoline Inventories -1.450M forecast-1.331M previous
•16:00 US Crude Oil Inventories 0.442M forecast,1.121M previous
•16:00 US Feb KC Fed Manufacturing Index 20 previous
•16:00 US Feb KC Fed Composite Index 24 previous
Looking Ahead - Events, Other Releases (GMT
•12:45 ECB McCaul Speaks
•13:15 UK BoE Gov Bailey Speaks
Fxbeat
EUR/USD: The euro declined sharply on Thursday after Russian forces attacked Ukraine, firing missiles at several cities and landing troops on its south coast. Russian missiles rained down on Ukrainian cities. Ukraine reported columns of troops pouring across its borders into the eastern Chernihiv, Kharkiv and Luhansk regions, and landing by sea at the cities of Odessa and Mariupol in the south. The euro fell as much as 0.84% to $1.1209 , the lowest level since Jan. 31.Immediate resistance can be seen at 1.1222(38.2%fib), an upside break can trigger rise towards 1.1273(50%fib).On the downside, immediate support is seen at 1.1166(23.6%fib), a break below could take the pair towards 1.1125(28th Jan low).
GBP/USD: Sterling fell against the dollar Thursday as investors rushed into safe-haven assets after Russia launched an all-out invasion of Ukraine by land, air and sea. Ukraine’s President Volodymur Zelenskiy said Kremlin leader Vladimir Putin’s aim was to destroy his state, while U.S. President Joe Biden and other Western leaders promised tough new sanctions in response.Safe-haven currencies such as the yen and U.S. dollar were in demand after Ukraine said Russia had launched a full-scale invasion while riskier currencies tanked. The pound fell 0.4% to 1.3484 against the dollar after hitting its lowest level since February 1 at $1.3464. Immediate resistance can be seen at 1.3451(50%fib), an upside break can trigger rise towards 1.3493(61.8%fib).On the downside, immediate support is seen at 1.3401(38.2%fib), a break below could take the pair towards 1.3349(23.6%fib).
USD/CHF: The dollar rose against the Swiss franc on Thursday as Russia invaded Ukraine, sending dollar higher. Russian President Vladimir Putin issued a blistering warning against Ukraine and authorised special military operations in Ukraine's Donbass region. Russian forces fired missiles at several cities in Ukraine and landed troops on its south coast on Thursday, officials and media said, after President Vladimir Putin authorised what he called a special military operation. The United States and its allies will impose severe sanctions"on Russia, U.S. President Joe Biden said. Immediate resistance can be seen at 0.9596 (5 DMA), an upside break can trigger rise towards 0.9630 (38.2% fib).On the downside, immediate support is seen at 0.9545 (50% fib), a break below could take the pair towards 0.9458(61.8% fib ).
USD/JPY: The dollar initially dipped against yen on Thursday but recovered ground as U.S. dollar gained some ground as Ukraine declared a state of emergency amid intensifying fears of a full-scale Russian invasion. Overnight, Russian President Vladimir Putin authorised what he called a special military operation in eastern Ukraine but Ukraine's Foreign Minister Dmytro Kuleba said on Twitter that Russia had launched a full-scale invasion. Markets have seen a sharp increase in volatility over the deepening crisis. The dollar was last trading 0.04 percent higher versus the Japanese yen at 114.02 .Strong resistance can be seen at 114.79(50%fib), an upside break can trigger rise towards 115.16(61.8%fib).On the downside, immediate support is seen at 114.46(38.2%fib), a break below could take the pair towards 113.99(23.6%fib).
Equities Recap
European stocks plunged 3% on Thursday as investors dumped riskier assets after Russia attacked Ukraine, raising fears that a war in Europe will fuel higher inflation and derail economic growth.
At (GMT 11:10 ),UK's benchmark FTSE 100 was last trading down at 3.34 percent, Germany's Dax was down by 5.04 percent, France’s CAC was last down by 4.94 percent.
Commodities Recap
Gold prices surged over 3% on Thursday and palladium led a rally in precious metals, as Russia's invasion of Ukraine ratcheted up fears of a war in Europe and drove investors away from riskier assets and into safe havens.
Spot gold climbed 3.4% to $1,971.54 per ounce by 1018 GMT, the highest since September 2020. U.S. gold futures jumped 2.4% to $1,956.00.
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014, after Russia's attack on Ukraine exacerbated concerns about disruptions to global energy supply.
Brent crude rose $8.24, or 8.5%, to $105.08 a barrel at 1045 GMT. U.S. West Texas Intermediate (WTI) crude jumped $7.78, or 8.5%, to $99.88.
