Forex Updates 19.3.2014 Russia absorbs Crimea but says “that’s all;” market believes it Ukraine says it wants “good neighbor relations” with Russia, it won’t join NATO Market apparently assumes that the situation has now reached an equilibrium and so is no longer a major market factor Stocks up, VIX back to where it was before the crisis began, gold down. USD makes new 2014 lows vs SEK, NZD and AUD But there’s still more to come EU leaders to meet Thursday and Friday; new sanctions may be announced after they’ve heard Russia’s response (but signs now are that they won’t be very strong) G7 meets next week; they may say something too So far no indication of Russian retaliation. That could defuse the situation. FOMC meeting ends today Likely to result in fuzzier forward guidance, like in UK Like in UK, this could lead to currency appreciation UK budget today will have revised forecasts, maybe some giveaways, but no major change in forecasts or fiscal stance expected
Posted on: Wed, 19 Mar 2014 07:53:45 +0000
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