{"id":24374,"date":"2022-03-24T13:08:00","date_gmt":"2022-03-24T13:08:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=24374"},"modified":"2022-03-24T22:57:06","modified_gmt":"2022-03-24T22:57:06","slug":"geopolitics-takes-centre-stage-as-president-biden-meet-nato-eu-and-g20-leaders","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/geopolitics-takes-centre-stage-as-president-biden-meet-nato-eu-and-g20-leaders\/","title":{"rendered":"Geopolitics takes centre stage as President Biden meet NATO, EU, and G20 leaders"},"content":{"rendered":"\t\t
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Midday Update<\/strong><\/p>

Markets are mixed early Thursday trades ahead of President Biden\u2019s meeting with Western leaders. The meetings are meant to impose fresh sanctions on Russian Oligarchs as Russia survives the previous round of sanctions.<\/p>

President Zelensky called for the Pope to mediate talks with Russia although no progress has happened with the diplomatic talks. SNB kept rates unchanged, and traders look forward to US economic data due for release in the New York session.<\/p>

The Dollar Index<\/a> had fresh bids towards 99.00 for the second day ahead of PMI data for February, rising +0.16%. Fed members continue to cement the idea of a tighter monetary policy and the Dollar has a general strength in the near term. A break above 99.00 may give room for a retest of 100.00, a near-term psychological barrier as the trend remains supported by a 50-day moving average on a 4-hour chart.<\/p>

AUDUSD<\/a> traded lower early Thursday morning as bulls lost handles at 0.7500 near-term psychological resistance. The pair was down -0.16% although room for upside gains remains open towards 0.7550, which coincides with October 2021 high.<\/p>

USDCAD<\/a> traded in a small range gaining +0.07%, early European session ahead of important Jobless Claims for March. The USDCAD holds above a 2-months low at 1.2560 and a break below that area may cause selling pressure in the meanwhile as the Canadian dollar remains strengthened by rising commodity prices.<\/p>

EURCHF<\/a> continued to plunge -0.13% post-SNB policy meeting after hitting 1.0263 as prices remain capped below a 50-day moving average. The EURCHF shaded off its earlier gains despite a neutral stance by SNB\u2019s unchanged interest rates as expected.<\/p>

The SNB indicated they do embrace Franc strength although room for intervention on inflation remains open. The area to watch out for is the weekly support at 1.0186 which coincides with last week\u2019s low and bulls need to break above 1.0270 to see a rebound to the upside.<\/p>

US Equities markets closed lower on Monday as oil jumped up ahead of the western leaders\u2019 meet for a historic day in diplomacy in Europe. The Nasdaq<\/a> dropped -1.41% to 14447.60 as investors avoid risk in the near term.<\/p>

The Dow Jones Industrial index<\/a> closed lower at 34358.00 losing -1.29%. The S&P500<\/a> also traded lower -1.23% as markets price an aggressive Fed rate hike this year. Investors will be watching the Durable goods orders due for release during the New York session.<\/p>

The European equities were steady as investors monitor economic growth and the Ukrainian war. The FTSE<\/a> was up +0.30% parring yesterday\u2019s losses, above 7450.9, and upside movement is capped by supply risks on new Russian sanctions. The CAC40<\/a> gained +0.37% as the price bounced off near-term support at 6540.00.<\/p>

Gold<\/a> is currently up +0.25% after a spike to 1957.88 breaching an 8-day high as the yellow metal remains underpinned by the Ukraine war despite Fed rate hike sentiments. The US and NATO leaders brace themselves for possible nuclear warfare by Russia and the risk-off increases bids on gold.<\/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 Markets are mixed early Thursday trades ahead of President Biden\u2019s meeting with Western leaders. The meetings are meant to impose fresh sanctions on Russian Oligarchs as Russia survives the previous round of sanctions. President Zelensky called for the Pope to mediate talks with Russia although no progress has happened with the diplomatic talks. […]<\/p>\n","protected":false},"author":4,"featured_media":24376,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[380,105,101,588,65,601],"yoast_head":"\nGeopolitics takes centre stage as President Biden meet NATO, EU, and G20 leaders - 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\/geopolitics-takes-centre-stage-as-president-biden-meet-nato-eu-and-g20-leaders\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Geopolitics takes centre stage as President Biden meet NATO, EU, and G20 leaders Geopolitics takes centre stage as President Biden meet NATO, EU, and G20 leaders\" \/>\n<meta property=\"og:description\" content=\"Markets are mixed early Thursday trades ahead of President Biden\u2019s meeting with Western leaders. 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