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February 15, 2022

Russia And Forex: What You Should Know

Frank Cabibi

Several days ago, global markets fell into frenzy on the Russia-Ukraine conflict going on. The Russian military sent troops the the border between the two countries, although recent reports claim that some of the troops have been sent back to base. There are still no clear signs that de-escalation has occurred on the borders, but diplomatic engagement still seems on the table for Russia although it is hard to tell. The outcome of this occurrence is completely uncertain, and the relation between Russia and forex is causing some wild behavior.

USD Pairs

If one thing is for certain, the growing tensions cause the USD to fly higher on the risk-off sentiment from investors. At the same time, when we heard report of calling troops back, the dollar fell while currencies like GBP, EUR, CAD, AUD and CHF began to rise over the USD. Sadly, escalating conflict leads to a higher dollar and gold price, so if we disregard trading for a minute, we should just hope that the tensions ease even at the cost of a falling USD.

russia and forex
Forex heatmap at 9:02 a.m.

USOil

Oil prices rose to the highest level in 8 years to the high $95s yesterday on escalating conflict. Investors fear that if this incident gets worse, oil drilling will cease. This caused a surge in oil price on the anticipation of lower production. USOil dropped 2.89% at the time of writing this after news of some troops returning home.

russia and forex

Indices

American, German and British indices rose this morning on the recent news. However, if tensions were to get worse, we could probably see another decline on all sides. Indices are probably not the best thing to trade during this time due to the higher volatility that can come into play in the global equities markets. This is true especially during attempts at negotiations ahead because we can't say who will agree to what and if Russia will accept control over a small part of Ukraine or if there will be a military pullback.

DAX
UK100
SPX500

We are still waiting for updates and will be keeping up with further news.

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