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Economic and fundamental developments 05-04-2022

5 Apr 2022 12:37 PM
  • Asian stock indices rose today following yesterday`s US stocks indices performance. According to JPMorgan, history has proven that geopolitical shocks did not dominate the markets for long. Asian stocks reached their highest level in five weeks.
  • Oil prices rise as West Texas Intermediate crude contracts are trading today above $105 per barrel, compared to levels under $100 a barrel at the end of last week. Prices rose amid anticipation of more sanctions against Russia.
  • The euro continued its decline against the dollar in today`s session, dropping to $1.09 after reaching the highs of $1.11 last week. The euro was affected by geopolitical tensions and expectations that the European Central would delay in tightening its monetary policies.
  • The Australian dollar rose against a basket of currencies, including the US dollar. The AUDUSD pair is trading above $0.76 compared to prices below $0.75 at the beginning of the week. The Reserve Bank of Australia decided to hold rates at 0.10%. However, markets are anticipating a rate hike next August.

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