Gold soars as a haven amid Ukraine risks

"I believe in analysis and not forecasting." - Nicolas Darvas

 

 

HEADLINES 

 

 

 

• Dollar gains as Ukraine tensions rise after U.S. warning
• U.S. dollar net long bets skid to lowest since mid-August 2021 -CFTC, Reuters
• Gold ends higher, extends rise after bell on Fed worries, Ukraine jitters
• Oil soars 3% to 7-yr highs on Ukraine jitters, tight supplies
• EUR/USD: Forecasts revised higher after ECB pivot policy meeting – Rabobank
• EURUSD Short Term: Downside favored

 

 

 

FOREX

 

 

Dollar gains as Ukraine tensions rise after U.S. warning

 

The dollar rose along with other safe-haven assets on Friday after the United States said Russia has massed enough troops near Ukraine to launch a major invasion.

A Russian attack could begin any day and would likely start with an air assault, White House national security adviser Jake Sullivan told a media briefing.

The dollar had been trading mostly sideways when the U.S. warning hit markets. The dollar index , a measure of the greenback against six major currencies, rose 0.258%.

 

U.S. dollar net long bets skid to lowest since mid-August 2021 -CFTC, Reuters

 

Speculators' net long positioning in the U.S. dollar dropped in the latest week to its lowest since mid-August 2021, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.

 

 

COMMODITIES

 

 

Gold ends higher, extends rise after bell on Fed worries, Ukraine jitters

 

Gold futures ended higher Friday, posting weekly gains as the yellow metal found support after a continued surge in inflation. Gains were extended in electronic trade after the bell after the White House warned that a Russian invasion of Ukraine could happen “any day now.”

White House National Security Adviser Jake Sullivan told reporters that while the U.S. hadn’t concluded that Russian President Vladimir Putin had made a final decision, an invasion next week as Winter Olympic Games continue in Beijing was a possibility.

 

Oil soars 3% to 7-yr highs on Ukraine jitters, tight supplies

 

Oil prices ended 3% higher on Friday at fresh seven-year highs as escalating fears of an invasion of Ukraine by Russia, a top energy producer, added to concerns over tight global crude supplies.

Russia has massed enough troops near Ukraine to launch a major invasion, Washington said, as it urged all U.S. citizens to leave the country within 48 hours.

 

 

 

STOCKS

 

 

 

Wall Street drops, oil prices jump on Ukraine conflict worries

 

Global shares dropped on Friday on rising worries over escalating Ukraine-Russia tensions and the prospect of a tightened interest rate hike timeline from the U.S. Federal Reserve in response to decades-high inflation.

Benchmark Treasury yields lost ground, and German bond yields backed off the 2018 highs struck on Thursday. Gold and oil prices rose.

Losses deepened in volatile trading on Wall Street after Washington said Russia had massed enough troops near Ukraine to launch a major invasion, and urged U.S. citizens to leave the country within 48 hours after Moscow stiffened its response to Western diplomacy.

 

 

ANALYSIS

 

 

 

EUR/USD: Forecasts revised higher after ECB pivot policy meeting – Rabobank

 

“We have also brought forward our medium-term projections for the recovery in EUR/USD. We now forecast EUR/USD at 1.15 on a 1-year view from a previous forecast of 1.12.” 

 

 

 

CHART

 

 

 

EURUSD Short Term: Downside favored

 

Technical View: Short position below 1.146. Target 1.132. Conversely, break above 1.146, to open 1.15.

Comments: The pair breaks below support.

Source: Trading Central
 

CALENDAR

*Times in GMT

Source: FX Street Economic Calendar

 

 

 

SOURCE

 

 

https://www.fxstreet.com/economic-calendar
https://finance.yahoo.com/news/us-crude-oil-producers-add-043259907.html
https://www.reuters.com/markets/stocks/us-dollar-net-long-bets-skid-lowest-since-mid-august-2021-cftc-reuters-2022-02-11/
https://www.fxstreet.com/news/eur-usd-forecasts-revised-higher-after-ecb-pivot-policy-meeting-rabobank-202202111616
https://www.reuters.com/business/rate-hike-bets-keep-us-dollar-bid-2022-02-11/
https://www.marketwatch.com/story/gold-edges-lower-but-on-track-for-weekly-rise-11644585619
https://www.reuters.com/markets/europe/oil-prices-slip-hot-us-inflation-concerns-2022-02-11/