MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Regional Currencies Dive, Havens Surge as Russia Commits to Invasion

FOREX
  • The severe escalation of the Ukraine Crisis into an Russian invasion into Ukraine has unsettled global markets, with equities diving (the e-mini S&P touches new YTD lows of 4101.75), havens rallying (gold surging to $1960, highest since mid-2020) and bond yields diving.
  • Haven currencies have received a solid tailwind, with the greenback, JPY and CHF at the top of the G10 table, while growth and commodity proxies are under pressure - putting AUD and NZD on the backfoot.
  • The hardest hit currencies rest in those territories with the closest proximity to Ukraine and Russia, putting the likes of NOK and SEK at the bottom of the pile in G10. The move puts USD/SEK at the highest levels since mid-2020, with USD/NOK creeping toward first resistance at 9.0286.
  • Data highlights Thursday include weekly jobless claims and secondary GDP figures for Q4, but these will likely take a backseat with the Ukraine crisis escalating considerably. The central bank speakers slate is also busy, with BoE's Bailey, Broadbent and Pill on the docket as well as Bostic, Mester, Barkin and Daly of the Fed.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.