FXSnapshot
Russian invasion disturbs Ukraine evacuation, markets fear more drama ahead. US jobs report for February marked upbeat NFP. US and Eurozone exploring legislation to ban the import of Russian oil, pushing brent at $130/bbl.
Market Brief:
Brent crude prices soared to their highest since 2008, touching $130/bbl due to delays in the potential return of Iranian crude to global markets and as the U.S. and European allies consider banning imports of Russian oil.
- Russia exports around 7 million bpd of oil and refined products or 7% of global supply.
- The EURUSD tumbled to a fresh 22-month low, trading around 1.0850 levels.
- U.S. inflation data and ECB meeting later this week are the main events to watch out this week.
- Fed’s Evans terms raising rates as “more than essential”.
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