Equities plunge on Russia-Ukraine tensions - 22.2.2022

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening is intact
Futures on three main US stock indexes are sharply down
Brent is rising currently on rising tension between Russia and Ukraine.
Gold prices are extending gains currently

Top daily news

Stock index futures are all in red currently after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine. Samsung shares are down 1.35% while the company announced the European release dates for its new line-up of Neo QLED 8K and 4K TVs on Monday, Litecoin is down over 10% on the day while Russia’s Ministry of Finance introduced a draft of the federal law “On digital currency” on Monday that proposes to regulate digital assets rather than ban them.

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Forex news

Currency Pair	Change
EUR USD	+0.07%
GBP USD	+0.2%
USD JPY	+0.04%
AUD USD	+0.17%

The Dollar strengthening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, gained 0.04% on Monday as Federal Reserve Governor Michelle Bowman said that she would assess incoming economic data over the next three weeks to deciding whether a half percentage point interest rate rise is needed at the central bank's next meeting in March.

EUR/USD continued sliding Monday while GBP/USD reversed its retreating. Both Pound and euro are lower against the Dollar currently. USD/JPY reversed its climbing yesterday while AUD/USD reversed its retreating with the yen lower against the Greenback currently and the Australian dollar higher still.

Stock Market news

Indices	Change
Dow Jones Index	-0.36%
Nikkei Index	-0.41%
Hang Seng Index	-1.52%
Australian Stock Index	-0.51%

Futures on three main US stock indexes are sharply down ahead of the Markit flash reports on US manufacturing and service Purchasing Managers' Indexes at 15:45 CET today. US stock market was closed yesterday for President’s Day holiday. The three main US stock index benchmarks booked daily losses in the range of 0.7% to 1.2% Friday as New York Fed Bank President John Williams said it would be appropriate to hike interest rates in March, without commenting on the magnitude of the hike.

European stock indexes are falling currently while Russia-Ukraine tensions rise as Russia recognized two breakaway regions in eastern Ukraine as independent and Russian troops moved into the breakaway regions on Monday. European stocks ended sharply lower yesterday led by auto shares. Asian indexes are retreating today with Hang Seng index leading losses.

Commodity Market news

Commodities	Change
Brent Crude Oil	+0.59%
WTI Crude	+0.68%

Brent is rising currently on rising tension between Russia and Ukraine. Prices advanced yesterday as Kremlin said it would recognize two breakaway regions in eastern Ukraine as independent. On Sunday ministers of Arab oil-producing countries said that OPEC+ should stick to its current agreement to add 400,000 barrels per day of oil output each month, despite calls to pump more to ease pressure on prices. US West Texas Intermediate WTI rose 3.6% and is higher currently. Brent gained 2.9% to $96.28 a barrel on Monday.