Global markets consolidate amid Ukraine peace talk developments. WTI crude oil remains soft. The Japanese yen strengthens against the US dollar.
Global equities consolidate, WTI crude softens on hopes of a Russia-Ukraine peace deal, JPY strengthens
Global equities are consolidating after yesterday’s meeting between Ukrainian President Zelenskyy, European leaders, and US President Trump, where discussions centred on a potential peace deal to end the three-year Russia–Ukraine war.”
The S&P 500, Nasdaq 100, and Dow Jones Industrial ended flat at the end of Monday’s US session, while the small-caps Russell 2000 outperformed with a minor gain of 0.3%.
In Asia today, mixed performances were seen among the Asia Pacific benchmark stock indices. Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index dropped by -04% and -0.3% at the time of writing. Singapore’s Straits Times Index managed to stage an intraday rally of 0.5%, snapping three days of consecutive declines.
Media reports highlighted that leaders of the US, Ukraine, Europe, and NATO have touted progress on peace talks to end the war in Ukraine. US President Trump mentioned that he was arranging a bilateral meeting with Putin and Zelenskyy. In addition, Trump highlighted via a social media post that the US would cooperate with Europe on Ukraine’s security.
These latest positive developments may remove roadblocks and pave the way for a ceasefire deal to end the Russia-Ukraine war, in turn removing sanctions on Russian oil exports, which is likely to increase global oil supply, creating a negative feedback loop back into oil prices. WTI crude has remained soft below a key short-term resistance at US$63.85/64.18 per barrel.
In the FX market, the Japanese yen is the top-performing major currency against the US dollar, where it recorded an intraday gain of 0.2% against the greenback in today’s Asia session, putting a halt to yesterday’s US dollar advance, below a key short-term resistance level of 147.85 on the USD/JPY.
Our YouTube video above contains the latest intraday technical analysis on the latest intraday technical analysis on US Wall Street 30, US Nas 100, US SPX 500, Hong Kong 33, Japan 225, Germany 30, EUR/USD, GBP/USD, AUD/USD, USD/JPY, Gold (XAU/USD), and West Texas Oil.
