DailyFX Tips & Picks: Analyst’s pick March 3, 2014 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long euro-dollar, euro-yen above ¥141.45 Expertise: Fundamental and technical analysis with risk management Average time frame of trades: A few hours to a few weeks The euro has proved resilient in the wake of Russia’s intervention in Ukraine. Euro-dollar is holding above our key level of $1.3770, and a [...]
There’s a cost to doing nothing in Ukraine March 3, 2014 IN RESPONSE to Russian forces entering the Crimea, the interim Ukrainian government called for UK and US intervention, invoking the undertakings we (and the French, and latterly Nato) gave to protect Ukraine’s territorial integrity. Yesterday, William Hague went to Kiev to tell the Ukrainians to their faces that we’re not coming – “no military options [...]
Why Ukraine’s unrest may benefit UK utilities March 3, 2014 The ongoing tensions in Ukraine have had a knock-on effect on European gas prices today, with speculation that this could lead to an increase in UK energy prices. Analysts at Liberum say that if the rise in European gas prices persists, this would be positive for the UK generators, especially those exposed to renewables [...]
What you need to know before the US open March 3, 2014 As things escalate in Ukraine and Russia, US equities look set for a weaker start in March. European markets have suffered some sharp losses this morning, and it’s likely the S&P 500 will follow suit. Stock futures have tumbled, along with other risk assets – the mobilisation of Ukrainian troops has seen investors rush to [...]
Ukraine: The biggest crisis in Europe this century says Hague March 3, 2014 Foreign secretary William Hague has called the current situation in Ukraine “the biggest crisis in Europe in the 21st century” this morning. Hague confirmed Russia’s taken operational control of Crimea, and that he’s “very concerned” about the possibility of movement by Russia further into eastern Ukraine. There is "no justification" for Russia's actions, he said. [...]
Russia’s stock market is crashing as central bank sells $10bn in FX reserves March 3, 2014 Russia’s MICEX stock exchange is plunging on the growing crisis in Ukraine. It’s currently down almost 10 per cent at 1,304, with stocks heading towards their biggest slump since 2009. The rouble has also slid sharply. One dollar is currently worth 36.39 roubles. Mechel – one of Russia’s leading mining companies – plummeted 31 per [...]
Markets are spooked: FTSE 100 falls to two-week low March 3, 2014 The FTSE 100 share index fell 108 points at the open, now down 1.1 per cent at 6,733. Cyclical shares have taken the biggest hit, as investors lose their appetite for risk, in the face of the escalating crisis in Ukraine. Other European markets are also in the red. The German DAX fell 1.8 per [...]
What you need to know before the open March 3, 2014 European stock futures have been falling as the tensions in Ukraine continue to rise. The rouble is currently at an all-time low, and Russia’s central bank has announced it’s hiking its benchmark interest rate from 5.5 per cent to seven per cent. All European markets are expected to fall sharply at the open, after Ukraine [...]
Russia hikes key interest rate to 7pc March 3, 2014 Russia’s central bank has said it’s upping its benchmark interest rate by 1.5 percentage points to seven per cent, as the rouble drops to a record low this morning to 36.90 per dollar. The move is in response to increased levels of volatility in financial markets, the bank said, and comes into immediate effect. "The [...]
Asian shares tumble amid Ukraine crisis March 3, 2014 Asian shares are taking a hit in the wake of the deteriorating situation in Ukraine, with Russian troops surrounded a number of Ukrainian military bases last night. The US Secretary of State John Kerry warned yesterday that Russia could be expelled from the G8 unless President Vladimir Putin puts an end to his “incredible act [...]