Financial Markets Daily Report24 March 2022
During a volatile session, financial markets experienced risk-off flows, as investors took on board another round of hawkish commentaries from various Fed officials, weak sentiment data in Europe and escalating tensions around Ukraine. Today, officials from NATO and EU leaders are meeting in Brussels to discuss new sanctions to Russia.
- During a volatile session, financial markets experienced risk-off flows, as investors took on board another round of hawkish commentaries from various Fed officials, weak sentiment data in Europe and escalating tensions around Ukraine. Today, officials from NATO and EU leaders are meeting in Brussels to discuss new sanctions to Russia.
- Commodity prices rose notably, driven by the demand from Russian President Putin to request Ruble payment for the country’s gas exports. In addition, U.S. crude stockpiles fell by 2.5 million barrels last week while storm damage to a Black Sea oil pipeline compounded supply risks.
- In this context, stock indices declined across the board and demand for sovereign bonds and safe-haven currencies increased. The EUR fell near the 1.10 level against the USD.
- In the economic calendar, today the key focus will be in the flash PMIs for March for the main developed economies.