This week also started with market development in view of the situation in Ukraine. The third ceasefire talks between Ukraine and Russia are set to take place today. However, the promise to secure evacuation routes for civilians agreed in the second round of talks has not yet been fulfilled. President Putin’s hard-line stance has not changed. Rather, it is heading in a worse direction, such as strengthening information control in Russia.
In addition, the US government is calling on allies to ban the import of Russian oil. At present, it seems that it has not been decided yet. Crude oil prices are skyrocketing at the beginning of the week. Japanese and Asian stock markets, US stock futures and after-hours trading are all cheap. Although there have been no panic movements in the foreign exchange market, the composition of the weak euro, the strong dollar, the strong yen and the strong currencies of resource-rich countries has been maintained since last week.
There seems to be an increasing view in the market that the Ukrainian war will last longer than initially expected. Humanely, an early ceasefire is desired. On the other hand, Ukraine is considered to be prepared to fight as a sovereign nation. With the tightening of sanctions in the West, Russia’s political and economic isolation is increasing. At the same time, there is concern that the pain to the world economy will gradually increase.
Today, pay particular attention to the GOLD movement. It has already reached the $ 2000 level and has not stopped rising. If there is a squeeze, you want to buy it.