Risk sentiment weakens as Joe Biden meets the EU leaders today. They are expected to announce new sanctions against Russia in the coming hours. There is a possibility of a ban on Russian oil imports to Europe. Uncertainties about Russian oil injects volatility in oil trading, and Russia now asks rubles in exchange of its energy and gas. Meanwhile, Russian market partially opens today, after but only 33 Russian company shares are allowed to trade for a shortened four-hour. The MOEX was up in the first hour of trading, but don’t be fooled by the early rally, because foreigners won’t allowed to sell their stake until April 1st, and short-selling is also banned. And because most of the market was made up of international investors, we will not get a clear picture of the valuations immediately. With the escalating tensions into today’s Europe – Biden meeting, the dollar firmed against major peers. The EURUSD slipped below the 1.10 mark again and gold tests the $1950 offers.
Watch the full episode to find out more!
- 0:00 Intro
- 0:34 EU – Biden meets to discuss new sanctions
- 1:29 Oil up and down
- 2:30 MOEX rallies as most investors CAN’T SELL
- 4:38 Russia wants rubbles in exchange of oil and gas
- 5:52 EURUSD below 1.10 as DAX capped into 14500
- 7:45 How to hedge against inflation?
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
