Yen rises in flight to safety

“Forget past mistakes. Forget failures. Forget everything except what you’re going to do now and do it.” – William Durant

 

 

HEADLINES

 

 

• Yen eases but up for week as investors stay worried over Ukraine tensions
• Speculators' net long bets on USD fall -CFTC, Reuters
• Gold jumps, stocks slide on Ukraine tensions mount
• Oil ends week mixed on geopolitical uncertainty, supply hopes
• Stocks fall, bonds rise on Ukraine tensions
• GBP/USD to test 1.37 on a firm break past the mid-1.36s – Scotiabank

 

 

FOREX

 

 

Yen eases but up for week as investors stay worried over Ukraine tensions

The safe-haven Japanese yen fell slightly against the dollar on Friday, pulling back after recent gains, but was up for the week as a series of developments in the Ukraine-Russia crisis put investors on edge.

In afternoon New York trading, the dollar was up 0.1% at 115.025 yen . For the week, the dollar was down 0.4% against the Japanese currency in its biggest weekly percentage decline in about a month. Against the Swiss franc - another safe haven - the dollar was up 0.1% at 0.9212 francs .

 

 

Speculators' net long bets on USD fall -CFTC, Reuters

 

 

Speculators' net long bets on the U.S. dollar fell in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday.

The value of the net long dollar position was $6.76 billion for the week ended Feb. 15, the lowest since August. Last week, speculators' net long position stood at $7.81 billion.

 

 

COMMODITIES

 

 

Gold jumps, stocks slide on Ukraine tensions mount

Gold prices jumped to an eight-month high and safe-haven debt rose on Thursday after U.S. President Joe Biden said there was every indication Russia planned to attack Ukraine, while Moscow accused Washington of ignoring its security demands.

Oil ends week mixed on geopolitical uncertainty, supply hopes

Oil prices ended the week mixed on Friday as investors weighed a potential supply disruption resulting from the Russia-Ukraine crisis against the prospect of increased Iranian oil exports.

Brent crude futures settled 57 cents, or 0.6%, higher at $93.54 a barrel, while U.S. West Texas Intermediate (WTI) crude ended down 69 cents, or 0.5%, at $91.07 a barrel. 

U.S. markets will be closed on Monday for the Presidents Day holiday.

 

 

STOCKS

 

 

Stocks fall, bonds rise on Ukraine tensions

A gauge of global stocks fell and government debt prices rose on Friday after hopes that diplomacy might resolve the Ukraine crisis faded on news Russian-backed separatists were evacuating residents from breakaway regions in the country's east.

Sentiment soured as shelling increased in eastern Ukraine and a rebel leader announced the surprise evacuation, a surprise development in a conflict the West suspects Russia will use to justify an all-out invasion of its neighbor.

 

 

ANALYSIS

 

 

GBP/USD to test 1.37 on a firm break past the mid-1.36s – Scotiabank

“Technical trends over the past four days suggest further gains ahead to a test of 1.37 once it firmly breaks past the mid-1.36s.”

“Trendline resistance from the decline since June also stands at 1.3669.”

“Support after 1.3600/10 is 1.3580 and 1.3550/60.”

 

 

CHART

 

 

EURUSD Short Term: Downside favored

 

 

Technical View: Short position below 1.141. Target 1.128. Conversely, break above 1.141, to open 1.145.

Comments: The pair remains under pressure. Further weakness favored.

Source: Trading Central
 

 

 

CALENDAR

 

 

*Times in GMT

 

 

Source: FX Street Economic Calendar

SOURCE

 

https://www.fxstreet.com/economic-calendar
https://www.reuters.com/markets/europe/global-markets-wrapup-1-2022-02-18/
https://www.reuters.com/markets/europe/yen-bid-bitcoin-battered-ukraine-fears-leave-traders-nervous-2022-02-18/
https://www.reuters.com/markets/stocks/speculators-net-long-bets-usd-fall-cftc-reuters-2022-02-18/
https://www.reuters.com/business/energy/oil-falls-prospect-iran-oil-sanctions-easing-2022-02-18/