- Prior was 2.0
Articles
United States Dallas Fed Manufacturing Business Index registered at 14 above expectations (5) in February
207800 February 28, 2022 23:56 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Russia President Putin: A neutral stance for Ukraine is needed to resolve conflict with Russia
207799 February 28, 2022 23:56 FXStreet Market News
Russian President Vladimir Putin told French President Emmanuel Macron in a call on Monday that a neutral stance for Ukraine is needed for a resolution of the current conflict, reported Reuters. Russia is open to talks with Ukraine and expects them to lead to the needed results, Putin reportedly told Macron in the call.
Russian and Ukrainian delegations are currently in talks near Ukraine’s border to Belarus. Hopes for a ceasefire to be agreed upon are slim, with the Ukrainian foreign ministry earlier saying that Ukraine would not surrender to the invading Russians and demanding that all Russian forces immediate withdraw from Ukraine.
Markets await the outcome of these talks with abated breath. A ceasefire (not expected) could immediately result in a drastic improvement of risk appetite.
Full Article
Dallas Fed manufacturing business index 14.0 vs 2.0 prior
207797 February 28, 2022 23:33 Forexlive Latest News Market News
- Dallas Fed survey
Full Article
Putin to Macron: Russia is open to talks with Ukraine and expects them to lead to results
207795 February 28, 2022 23:29 Forexlive Latest News Market News
Russia is open to talks with Ukraine and expects them to lead to the needed results, Putin told Macron in a call, according to RIA.
A separate report from TASS said Putin told Macron that a ‘neutral status’ for Ukraine is needed for the resolution of conflict. What he means by that is that Ukraine must be ‘neutral’ from NATO — no longer letting NATO soldiers train there or attempting to join NATO.
More: The Kremlin said conditions for settlement: recognition of Russian sovereignty over Crimea; demilitarization, denazification, neutral status of Kyiv.
Full Article
USD/CHF Price Analysis: Retreats from daily highs 80-pips but stalled at the 200-DMA at 0.9179
207793 February 28, 2022 23:26 FXStreet Market News
- The market sentiment is downbeat spurred by developments in the Ukraine – Russia war, increasing appetite for safe-haven peers, with the greenback rising, except for the CHF.
- Newly imposed sanctions in Russia spurred a rate hike of the Russian Central Bank of 1100 basis points amid ruble’s free-fall.
- USD/CHF Technical Outlook: Neutral bias, but upside/downside risks remain, as USD/CHF traders test the 200-DMA.
In the last week, the USD/CHF recorded gains of 0.46% amid a busy day in the financial markets, amid Ukraine – Russia war, which grabbed most of the headlines, spurring fluctuations in the market mood. At the time of writing, the USD/CHF is trading at 0.9183.
Stringent sanctions imposed during the weekend by the US, Europe, and other countries dampened the market mood, with stocks falling, haven assets rallying, like the greenback and the Swiss franc, while precious metals and oil rise. It is worth noting that the Russian Central Bank hiked rates from 9.50% to 20% to cap the plunging ruble.
In the overnight session for North American traders, the USD/CHF reached a daily high at 0.9277, appearing to break the top of the trading range. However, as soon as European traders got to their offices, the pair plummeted almost 90-pips to 0.9180 as traders rushed to security liquidity.
USD/CHF Price Forecast: Technical outlook
The USD/CHF tests the 200-day moving average (DMA) at 0.9179, and on its way south, the USD/CHF broke the 50 and 100-DMAs at 0.9197 and 0.9205, each. If the USD/CHF registers a daily close of the 200-DMA, that could expose February 21 swing low at 0.9150, followed by January 21 pivot low at 0.9105 and the 2021’s November 2 low 0.9085.
Upwards, the first resistance would be the 50-DMA at 0.9197. Breach of the latter would expose the 100-DMA at 0.9205, followed by February 24 daily high at 0.9288.
SafeMoon is in good shape for further recovery with 40% of positive returns
207791 February 28, 2022 23:17 FXStreet Market News
- SafeMoon price action has not seen investors flee its price action, with only a slight 3% loss over the weekend.
- SafeMoon bulls are set to break above the 23.6% Fibonacci level, above $0.0012236 and look for more upside potential.
- With demand high for cryptocurrencies, expect to see a return to $0.0015000 in the coming days.
SafeMoon (SAFEMOON) has been very close to breaking the $0.0010000 handle, but investors have stepped in at the last moment and pulled SafeMoon up around 13% already. There is more room for the upside as demand for cryptocurrencies enlarges due to the Russian market looking for alternative forms of payment that the West does not sanction. This will trigger more demand on the buy-side and could see SafeMoon price action stretch towards $0.0016016, holding 40% of positive pnl.
SafeMoon price could cover a lot of ground to the upside
SafeMoon price action did not see massive outflows over the weekend as the West introduced suffocating financial sanctions on Russia. Markets are now also starting to look beyond the decision to impose sanctions as the news has been fully digested around the globe. Although most risk assets are trading in the red, most of them are far away from the lows they had at the beginning of the session during the ASIA PAC time zone.
The same is true for SafeMoon as it looks to touch $0.0012236 possibly today, and could even pop above this level – the 23.6% Fibonacci level. A daily close above would undoubtedly deliver a solid buy-recommendation to the market as it will show that bulls are dictating price action. With the Relative Strength Index (RSI) still in oversold, it is about time a turnaround was due and may see investors buy back into price action.
SAFEMOON/USD daily chart
To the upside, the 200-day SMA at $0.0014698 or the significant historical level at $0.00161016 stand as possible targets but there is a chance bulls could get cut short if peace talks fail later today. Putin has set his nuclear weapon force on high alert, bringing a catastrophic shock through markets, and a dip back to $0.0010000 would be the logical outcome.
Full Article
French Pres. Macron spoke with Russia’s Putin and urged an immediate cease-fire.
207790 February 28, 2022 23:02 Forexlive Latest News Market News
French Pres. Macron, spoke with Russian Pres. Putin today and urged an immediate cease-fire. No other details have yet to be reported.
Meanwhile EU’s Borrell is on the wires saying:
- We will further hike sanctions against Belarus and against anyone collaborating with Putin on Ukraine
- On financial sanctions against Russia, says we start thinking we should do more
- We have mobilized satellite center in Madrid to support Ukraine with intelligence
- Bloc must reduce as quick as possible exposure to Russian oil and gas
- I am very happy Switzerland joined us on sanctions against Russia
- Sanctions on Russia will backlash, but we have to be ready to pay this price now
United States Chicago Purchasing Managers’ Index registered at 56.3, below expectations (63) in February
207789 February 28, 2022 22:49 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
The Government of the UK plans to seize cryptocurrencies to curb money laundering
207787 February 28, 2022 22:40 FXStreet Market News
- The Government of the UK aims to tackle the use of cryptocurrencies in money laundering based on a recent report.
- The proposal was put forward alongside the economic crime bill requiring foreign companies to reveal their identities.
- The recent Russian invasion and rising cryptocurrency crimes have fueled concerns around “dirty money” in the UK.
- Bitcoin’s correlation with equities remained high, and bloodbath continued amidst fear of a bear market.
The Government of the UK has proposed reforms in seizing cryptocurrencies alongside a bill to curb the origin of “dirty money.” Proponents believe rising geopolitical tension and Russian aggression could have fueled the proposal to seize crypto.
UK acts promptly to curb flow of “dirty money” in the economy
While the crypto market bloodbath continues, the government of the UK has responded to money laundering through cryptocurrencies in its economy. The Companies House has proposed legislation to increase the Government of UK’s power to seize cryptocurrencies in its economy.
The bill was tackled at curbing the use of digital currencies in funding illicit economic activities in the UK. A white paper on reforms to control the flow of “dirty money” and seize cryptocurrencies would soon be presented to the UK’s registrar of businesses, the Companies House.
Proponents argue that Russian aggression and the ongoing geopolitical crisis could have motivated the prompt move by regulators.
The UK’s new economic crime bill has addressed the use of digital assets in nefarious funding. The proposed reform in the economic crime bill would require foreign owners and applicants registering new companies to provide information on their identity.
The two proposals have mass appeal, empowering the Government of the UK to seize cryptocurrencies. The government’s concern about the flow of “dirty money” in the UK economy increased with the rising pressure from the Russian-Ukrainian war.
Demand for cryptocurrencies could plummet with the introduction of the new bill by UK regulators.
Full Article
Silver Price Analysis: XAG/USD well supported above $24.50 as West hits Russia with new sanctions
207786 February 28, 2022 22:40 FXStreet Market News
- Silver is trading on the front foot above $24.50 on Monday as geopolitics remains the driving market force.
- Economic uncertainty related to new Western sanctions on Russia and paring of central bank tightening bets is supporting precious metals.
Spot silver (XAG/USD) prices are trading higher this Monday in the $24.50 region, up about 1.0% or roughly 25 cents on the day, underpinned by uncertainty relating to the shifting the global geopolitical order following Russia’s invasion of Ukraine. The EU stance against Russia hardened significantly over the weekend.
Western countries will now ban some Russian banks from SWIFT, the CBR had a large portion of its forex reserves frozen and the EU will provide direct military aid to Ukraine after blocking its airspace to all Russian aircraft. There is considerable uncertainty as to how these measures might impact global growth and levels of uncertainty aren’t helped by the threatening tone of Russian President Vladimir Putin, who directed his nuclear deterrent forces to be on a state of heightened alert.
As traders digest recent developments as the Russo-Ukraine war rumbles on, its not really surprising to see safe-haven precious metals such as silver in demand. XAG/USD bulls will take comfort from the fact that the metal seems to be finding good support at its 200-Day Moving Average at $24.20. As global energy prices march higher on fears of Russia supply disruptions, demand for inflation protection is likely to remain elevated.
That, coupled with traders paring back their Fed, ECB and other major central bank tightening bets and the subsequent drop in global bond yields suggests XAG/USD’s trading bias this week may be tilted higher. Even though this week’s US data (official jobs report and ISM surveys) are likely to show a robust ongoing recovery and Fed speak is likely to reaffirm near-term tightening expectations, XAG/USD bulls will likely target last week’s $25.62 highs.
Full Article
US stocks open lower. Dow is the weakest of the major indices.
207784 February 28, 2022 22:35 Forexlive Latest News Market News
The major US indices are opening lower giving up some of their gains from Friday’s trade:
- Dow industrial average is trading down -493 points or -1.44% at 33574. On Friday, the Dow rose 834.19 points
- S&P index is trading down -48 points or -1.10% of 4336.50. On Friday the S&P index rose 95.95 points
- NASDAQ index is trading -93 points of -0.68% at 13601.82 . The NASDAQ index game 221.04 points on Friday
- Russell 2000 -16.41 points or -0.80% at 2024.51. The Russell 2000 index rose 45.57 points on Friday
In other markets as US stock trading gets underway:
- Spot gold is trading of $26.25 or 1.3% at $1515.27
- Spot silver is up $0.31 or 1.29% at $24.56
- WTI crude oil is trading of $3.48 at $95.00
- Bitcoin is trading at $38,985. The high price reach $39,199.97. The low price extended to $37,468.99.
In the US debt market, yields are low with the shorter end moving down the most.
