This is what you need to know to trade today monday february 14:
Safe-haven money flows dominated financial markets ahead of the weekend amid renewed fears of a military conflict between Russia and Ukraine. Investors remain cautious early Monday. The economic calendar will not feature any high-impact data releases and risk perception is likely to remain the main driver for financial markets. In addition, the president of the European Central Bank (ECB), Christine Lagardeand the president of the St. Louis Fed, James Bullardwill deliver speeches later in the day.
Late on Friday, multiple media outlets reported that Russia was expected to invade Ukraine as soon as this week. Over the weekend, the White House said that The United States will respond “quickly and decisively” to any new Russian aggression against Ukraine. President Biden’s national security adviser, Jake Sullivan, told CNN that an invasion could take place before February 20.
Japan’s Nikkei 225 index is down more than 2% on Monday and the Shanghai Composite Index is down more than 1%. US stock index futures are flat at the start of the European session and the yield on the 10-year US Treasury note, which lost almost 6% on Friday, is up 2% at 1.95%. The US Dollar DXY Index, which measures the dollar’s performance against a basket of six major currencies, remains relatively calm near 96.00 after rising 0.5% last week.
Meanwhile, oil prices continue to move higher, with a barrel of West Texas Intermediate (WTI) trading at its highest level since September 2014 at $94.20.
The EUR/USD fell sharply late on Friday and hit its lowest level in over a week at 1.1329. The pair is trading sideways in a relatively tight range below 1.1350 on Monday.
The GBP/USD records small losses below 1.3550 at the start of the European session. The UK’s Office for National Statistics is to publish labor market data on Tuesday.
The USD/JPY fell nearly 100 pips on the Russia-Ukraine news, but appears to have stabilized above 115.00. The recovery in US Treasury yields is helping the pair limit its losses.
he orriver rose to its highest level since mid-November at $1,865 on Friday. XAU/USD is now consolidating its gains around $1,850.
The Bitcoin posted small losses over the weekend after facing heavy selling pressure on Friday, but managed to stay above $40,000. The ethereum it is trading sideways below $3,000 after closing the previous four days in negative territory.
Source: Fx Street
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