Russian President Vladimir V. Putinhas said that kyiv is not serious about finding a mutually acceptable solution, according to Bloomberg.
Markets have reacted negatively to the news, with stocks pulling back from highs and the dollar and safe-haven gold rising. Investors have pinned their hopes on negotiations between Russia and Ukraine, which both sides said were making progress. Putin’s comment is removing some of this optimism from the markets.
It is essential to note that markets are extremely volatile and Moscow’s comment may be followed by a contradictory one. Investors are nervous and likely will be as long as hostilities continue.
Gold jumped to $1,925 after being pressured to $1,900 earlier. Oil has also jumped from the abyss, reaching $96 after dipping below $94 earlier.
Gold bounces off lows:
EUR/USD has dipped further below 1.10, and the bulls have given up hope of challenging the daily high at 1.1020 or the resistance at 1.1040. The common currency has been particularly vulnerable as the war is being waged on European soil. The safe haven dollar is a beneficiary.
Source: Fx Street
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