The Kremlin informs that due to the results of the recent referendum, the four territories occupied by Russia will be officially annexed tomorrow. This is in line with previous expectations and may lead to an even greater escalation of the conflict, as earlier Moscow announced that in the event of an attack by Ukraine on Russian territory, a nuclear response could occur.
As one can notice, we have a combination of several factors, such as the sabotage of the Nord Stream system and the annexation of the occupied territories. Despite yesterday's recovery, the end of this month may be very nervous for stock traders.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appIn addition, it is worth noting that Germany reports a slightly increased demand for gas recently, due to the drop in temperatures. According to the ministry of energy, the demand must be reduced by 20% in order not to run out of gas in the winter season.
In addition, the German federal government is to announce an aid package worth nearly EUR 200 billion (nearly 5% of Germany's GDP) which aims to prevent high energy prices, Handelsblatt reported. More details will be released at 1:00 p.m. BST.
EURUSD strenghtened slightly, however we are not seeing any major reaction on the gas market. EURUSD is trading above the 0.9700 level. Source: xStation5
