Economic and fundamental developments 28-02-2022

28 Feb 2022 10:54 AM
  • The US dollar and the Japanese yen rose against a basket of major currencies amid increased demand for safe-haven due to the Eastern European geopolitical tensions. The euro fell to $1.11 against the dollar, near its lowest level since May 2020.
  • Oil prices rose as the Brent crude contracts traded above $100 a barrel, with markets worried about the oil supply due to the imposed sanctions on Russian oil exports.
  • Asian stock indices performance varied, while US and European stock indices contracts fell during the Asian session. Markets are monitoring developments in Russian-Ukrainian geopolitical tensions.
  • Gold prices rallied to trade above $1,900, and silver also rose. The US, the European Union, and allies agreed to remove major Russian banks from the SWIFT interbank messaging system and freeze Russian Central Bank assets.


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