What you should know on Tuesday, April 5:
Most major pairs struggled to find direction on Monday as market participants remained cautious ahead of the announcement of new sanctions on Russia. The EUR was the worst performer and the AUD the best.
Attention remained on the crisis in Eastern Europe. As announced, Moscow has withdrawn troops from the northern region of Ukraine. However, kyiv reported mass murder of civilians and war crimes, resulting in Western nations announcing plans to add sanctions to the Kremlin.
French President Emmanuel Macron has called for sanctions on Moscow, while Germany and France have decided to expel Russian diplomats from their countries. The United States is also preparing more sanctions against Putin and company. Ukrainian President Volodymyr Zelenskyy said that considering what Russia has done in the country, it is difficult to negotiate with them.
EUR/USD is trading around 1.0960, while AUD/USD is trading near a fresh 2022 high of 0.7555. GBP/USD is holding steady around 1.3110, while USD/CAD hovers around 1.2485. The USD/JPY pair is unchanged around 122.80, while the USDCHF changes hands at 0.9260.
Gold advanced within the range, ending the day around $1,930 a troy ounce. Crude oil prices also rose, with WTI settling at $103.80.
The 10-year Treasury bond yield stands at 2.42%, while the 2-year bond yield currently stands at 2.43%. The inverted yield curve raised recession-related concerns, although market reaction has been limited so far. However, growing concerns point to possible gains from safe-haven assets.
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
