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Traders from Asia launched a new week in downbeat moods. Nikkei dropped almost 0.8%, indices from China traded 0.1-1.1% lower while Kospi finished flat. S&P/ASX 200 gained 0.16%
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DAX futures point to a higher opening of the European cash trading session today
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Moods improved somewhat following news of a potential Biden-Putin summit
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Biden agreed to meet with Putin but only under condition that Russia does not invade Ukraine
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Reports of fighting between Ukrainian army and Russian-backed separatist continued over the weekend
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Satellite images show continued build-up of Russian troops and equipment near border with Ukraine
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Biden will meet with G7 leaders on Ukraine this Thursday
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According to Reuters, the United States finished preparing a package of sanctions to levy on Russia in case of an invasion. Those include sanctions on Russian as well as personal sanctions on Putin's top officials and allies
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People's Bank of China left 1-year lending rate unchanged
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Japanese manufacturing PMI dropped from 55.4 to 52.9 pts in February (exp. 55.0)
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South Korean exports increased 13.1% YoY in the first 20 days of February while imports were 12.9% YoY higher. Semiconductor exports increased 18.1% YoY
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Cryptocurrencies trade slightly higher on the day. Bitcoin tests $39,000 area while Ethereum trades near $2,700
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Oil trades slightly lower at the beginning of a new week. Precious metals drop as well
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AUD and NZD are the best performing major currencies while JPY and USD lag the most
Russian ruble is trading higher at the beginning of a new week. USDRUB currency pair is pulling back from a mid-term resistance zone ranging below 79.00 handle. The pair is currently trying to break back below the 200-hour moving average (purple line). Source: xStation5
