{"id":22668,"date":"2022-02-21T08:22:00","date_gmt":"2022-02-21T08:22:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=22668"},"modified":"2022-02-21T12:26:07","modified_gmt":"2022-02-21T12:26:07","slug":"sentiment-lifts-as-war-summit-is-announced","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/","title":{"rendered":"Sentiment lifts as war summit is announced"},"content":{"rendered":"\t\t
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Market Update<\/strong><\/p>

The market is in a more positive mood today following news that a summit meeting the leaders of Russia and the United States could pave the way for a ratcheting down in border tensions in Ukraine.<\/p>

This all came after French President Macron spoke with Biden and Putin over the weekend. The outcome was that Macron has set up a potential Biden-Putin summit meeting.<\/p>

Interestingly, one of the caveats is provided there is no Russian invasion of Ukraine. This has got the market excited. The \u2018summit\u2019 news gave a lift to risk trades, which got hit hard over the weekend.<\/p>

US equity index futures<\/a> dropped heavily last Friday, however, they are now surging into positive territory on the summit proposal. This is one of the issues with being short of the major US index\u2019s, it can be a risky proposition.<\/p>

Additionally, the majors on the foreign exchange market surged against the USD. The EUR<\/a>, NZD<\/a>, AUD<\/a>, GBP<\/a> are all moving higher this morning, while the JPY<\/a> and CHF<\/a> are up also against the dollar.<\/p>

The EURUSD pair rallied from around 1.1320 to above 1.1360 at the time of writing. The EURUSD pair is obviously a canary currency for the Ukraine crisis, due to the sensitivity with the location of the conflict and the energy concerns it brings.<\/p>

Oil<\/a> and gold<\/a> have also lost ground on the summit news. This was always going to happen on positive news. The $1,850 and $1,830 levels offer critical support for the yellow metals<\/p>

Notably, the Japanese flash Manufacturing PMI\u2019s for the month of February fell sharply earlier today. The PMI data came in a 52.9, which was a big drop from the previous reading of 55.4.<\/p>

The People\u2019s Bank of China has left the 1- and 5-year Loan Prime Rates (LPR) unchanged at the setting today. Both had seen small rate cuts in January.<\/p>

Bitcoin has recovered back above the $39,000 level, further underscoring its place as a risk asset. The top crypto broke under the $38,000 level over the weekend. Bulls need to get past the $40,400 level to gain further upside traction.<\/p>

Traders now await the outcome of the preliminary March eurozone PMI data today. As always, the reading from Germany and France will be key, and are the German PMI could be a big mover for the euro currency.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Market Update The market is in a more positive mood today following news that a summit meeting the leaders of Russia and the United States could pave the way for a ratcheting down in border tensions in Ukraine. This all came after French President Macron spoke with Biden and Putin over the weekend. The outcome […]<\/p>\n","protected":false},"author":4,"featured_media":22674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[629,64,605,87,28,107,394,632,609,633],"yoast_head":"\nSentiment lifts as war summit is announced - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sentiment lifts as war summit is announced Sentiment lifts as war summit is announced\" \/>\n<meta property=\"og:description\" content=\"The market is in a more positive mood today following news that a summit meeting the leaders of Russia and the United States could pave the way for a ratcheting down in border tensions in Ukraine.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-21T08:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-21T12:26:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/02\/GettyImages-1362356359.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"509\" \/>\n\t<meta property=\"og:image:height\" content=\"320\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Sentiment lifts as war summit is announced Sentiment lifts as war summit is announced\" \/>\n<meta name=\"twitter:description\" content=\"The market is in a more positive mood today following news that a summit meeting the leaders of Russia and the United States could pave the way for a ratcheting down in border tensions in Ukraine.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Sentiment lifts as war summit is announced\",\"datePublished\":\"2022-02-21T08:22:00+00:00\",\"dateModified\":\"2022-02-21T12:26:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/\"},\"wordCount\":391,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"CHF\",\"Crude oil\",\"EUR\",\"GBP\",\"GOLD\",\"Joe Biden\",\"JPY\",\"Putin\",\"Russia-Ukraine tensions\",\"Summit\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/\",\"url\":\"https:\/\/youtrading.com\/en\/sentiment-lifts-as-war-summit-is-announced\/\",\"name\":\"Sentiment lifts as war summit is announced - 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