{"id":24036,"date":"2022-03-18T13:12:00","date_gmt":"2022-03-18T13:12:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=24036"},"modified":"2022-03-18T17:26:22","modified_gmt":"2022-03-18T17:26:22","slug":"the-us-pushes-china-to-choose-sides-over-ukraine-russia-crisis","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/the-us-pushes-china-to-choose-sides-over-ukraine-russia-crisis\/","title":{"rendered":"The US pushes China to choose sides over Ukraine\/Russia crisis"},"content":{"rendered":"\t\t
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Midday Update<\/strong><\/p>

It is an eventful day on Friday as investors remain on the edge regarding the mounting inflationary risks post-FED and BoE policy meetings. US President Biden is set to have a call with the Chinese President later today, in a bid to pressure China to push Russia to a cease-fire with Ukraine as diplomatic talks remain unfruitful.<\/p>

Ukraine\u2019s demands for hard security guarantees from Russia may open the way for skeptics to indicate signs of easing up are far away from progressive as Russia continues to fire missiles in some western areas of Ukraine.<\/p>

The EURUSD<\/a> traded lower early Friday morning, giving in -0.40% post-Fed gains as ECB continues to signal inflation worries amid war clouds. Bullish momentum suffered a sharp reversal as geopolitical risk renews in the near term, while the pair faced a near-term barrier at 1.11833 which coincides with a 2-week high. There is a possibility to trade lower towards 1.10000 in the near-term post-better-than-expected labour market data from the US on Thursday.<\/p>

The EURGBP<\/a> is down -0.30% after slightly trading above 0.8456 resistance. The pair got a boost from Dovish remarks from the BoE on Thursday which forecasted a modest tightening cycle in the near term although the upside movement was short-lived.<\/p>

The EURGBP is trading lower towards 0.84000 near-term support and a break below that area may give further downside pressure towards 0.8370.<\/p>

NZDJPY<\/a> extended gains early Friday morning post-BoJ policy meeting. Governor Kuroda indicated that he is not worried about inflation now as war may help prices hit their 2% inflation target hence maintaining rates at -0.10%.<\/p>

NZDJPY shot up +0.33% as bulls attempt a shot at 82.50 resistance, October 2021 high and a breach above that area may give upside movement as New Zealand\u2019s major trade partner, China ease lockdown measures to reopen industries.<\/p>

GBPCAD<\/a> is currently trading at pivotal support at 1.6554 as the Pound suffers selling pressure in the near term. The pair is down -0.15% as rising commodity prices weigh down the pound whilst the Canadian dollar remains stronger. A strong rebound may need to see a break above 1.66000 near-term resistance otherwise a break below the 2020 lows may give room for a retest of 1.64000 psychological support.<\/p>

European equities opened lower on Friday after days of sizeable gains, as geopolitical tensions from Ukraine continue to send shockwaves in the economy. The Dax index<\/a> lost -0.71% as it trades at yesterday\u2019s lows at 14250.00 and could potentially trade lower to close the price action gap between 14200.00 and13920.00<\/p>

FTSE<\/a> gave in earlier gains dropping -0.50% as the trend remains challenged by 7401.7 resistance. The index may experience a corrective pattern towards 7236.00 previous resistance turned support which coincides with a 50-day moving average.<\/p>

US indices closed higher for the 3rd session as the benchmark US10-year yields<\/a> subside from 2-year highs. Nasdaq<\/a> was up +1.16%, while S&P500<\/a> closed +1.23% higher at 4411.16, 4 weeks resistance.<\/p>

US WTI<\/a> is down -0.30% after jumping 8% on Thursday from near-term support at $94.00 reaching $106 near-term resistance. Brent futures<\/a> are up 8.79% as bulls reclaim 106.64\/barrel, although upside gains remain challenged with 110.00 psychological resistance.<\/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":"

Midday Update It is an eventful day on Friday as investors remain on the edge regarding the mounting inflationary risks post-FED and BoE policy meetings. US President Biden is set to have a call with the Chinese President later today, in a bid to pressure China to push Russia to a cease-fire with Ukraine as […]<\/p>\n","protected":false},"author":4,"featured_media":24038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[453,99,605,57,381,378,587,48],"yoast_head":"\nThe US pushes China to choose sides over Ukraine\/Russia crisis - 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\/the-us-pushes-china-to-choose-sides-over-ukraine-russia-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The US pushes China to choose sides over Ukraine\/Russia crisis The US pushes China to choose sides over Ukraine\/Russia crisis\" \/>\n<meta property=\"og:description\" content=\"It is an eventful day on Friday as investors remain on the edge regarding the mounting inflationary risks post-FED and BoE policy meetings. 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