The Russian Foreign Minister Sergey Lavrovsaid on Friday that Russia is ready to negotiate on grain with Ukraine and Turkey.
Notably, Ukrainian grain exports plunged 68.5% year-on-year to 163,000 tonnes in the first six days of July, according to Reuters, the first month of the 2022/23 season, the Ukrainian Agriculture Ministry said.
The Russian diplomat was speaking while attending the Group of 20 nations meeting in Indonesia, which is likely to put pressure on Moscow to resolve the key issue. However, Russian President Vladimir Putin has already signaled his readiness to fight any major force that wants to test Russian aggression.
Implications for the foreign exchange market
The news should ideally have been supportive of market sentiment, but pre-NFP anxiety joins Japan’s geopolitical headlines and recession woes to keep S&P500 Futures pressured near 3,890, down 0.40% intraday and breaking a five-day uptrend.
Source: Fx Street
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