Russia-Ukraine News and Analysis
- Russia to Sharply Cut Military Operations in Kyiv and Chernihiv
- Geopolitical Risk Premium Unwinds in Oil[1] and Gold[2]
- Euro[3] Soars to Session Highs
Russia-Ukraine Progress
Constructive talks between Russia and Ukraine have sparked a fresh wave of optimism for a potential peace deal. In the latest round of talks, Ukraine has proposed adopting a neutral status in exchange for security guarantees, meaning that it would not join military alliances or host military bases. Subsequently, Ukraine believes that enough progress has been made for a meeting to be scheduled between Putin and Zelensky. What’s more, Russia has also stated that they will sharply cut military operations near Kyiv and Chernihiv.
Oil[4] and Gold Slides to Session Lows
This is by far the most positive development we have had regarding the Russian-Ukraine conflict. In turn, wars trades have continued to unwind with both oil and gold prices coming under notable pressure. The latter eyeing key support at 1880-85, where should the precious metal close below risks tilted towards 1835-50.
Crude Oil Reaction to Positive Russia-Ukraine Talks
Source: Refinitiv
Gold Bearish Below 1880
Source: Refinitiv
Meanwhile, the most exposed currency to Russia risks, the Euro, is trading at fresh session highs, briefly testing 1.1100. Resistance ahead at 1.1120.
Source: Refinitiv
DailyFX[5] provides forex news and technical analysis on the trends that influence the global currency markets.
