- US announced a ban on Russian oil imports
- Russia will limit exports of certain commodities and goods
- Gold highest since August 2020
- McDonald's will temporarily shut its operation in Russia
European indexes finished today's session in mixed moods as investors try to assess how embargos on Russia energy commodities, massive spending plans in the EU and the ongoing war in Ukraine will affect regions economic growth. The US banned crude oil, LNG and coal imports, while the UK move will be phased over the coming months and won’t target natural gas. Sadly EUdid not support these moves, as Russia plays a much bigger role in oil and gas supplies. Also, the Euro bloc is considering a joint-bond sale to finance defense spending and a transition towards less dependence on energy imports.
US indices swing between gains and losses, as ban on imports of Russian oil weighed on sentiment early in the session. However stocks rebounded sharply after AFP reported yesterday old news that President Volodymyr Zelenskyy said he is no longer pressing for NATO membership for Ukraine, a delicate issue that was one of Russia's stated reasons for invading its pro-Western neighbor. Next markets erased some of the recent gains after Putin signed a vague decree on blocking exports and raw materials from Russia of 'certain materials'. Full list will be determined in two days and at the moment it is unsure whether oil and gas will be included. Also Russia announced 'silence period' in Ukraine on March 9. Moscow says the move is for humanitarian corridors. Meanwhile McDonald's decided to temporarily close its restaurants in Russia, following a wave of criticism on social media.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appIncreased volatility can be observed on the commodities markets amid a stronger dollar. US 10-year Treasury rose slightly to1.86% while gold surged nearly to the all-time high at $2075. Silver tested psychological resistance at $27.00, however precious metals erased part of today’s gains after Putin's announcement. WTI oil pulled back from a fresh local high at $129.50 and currently trades around $125.00. Major cryptocurrencies moved higher during today's session. Bitcoin price pulled back after bulls failed to stay above $39,000, while Ethereum trades around $2550 level.
DE30 continues to move south. Today the index again bounced off the upper limit of the 1:1 structure. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
