The war in Ukraine continues to affect the markets
The war in Ukraine continues to affect the markets

The hope for an early end to the war, which appeared against the backdrop of the recent negotiations in Istanbul between the Russian and Ukrainian sides, became the reason for the liquidation of long positions in the US dollar and short positions on stock markets. This contributed to the corrective recovery of the main competitors of the dollar and stock indices.

Nevertheless, the withdrawal of the Russian forces from some of regions of Ukraine looks like just a regrouping before a new attack, so the growth of the euro, British pound, Japanese yen against the dollar was used to sell them, and at the end of the week they lost part of the weekly gains. Stock indices were also sold on growth.

Against the backdrop of the ongoing war in Ukraine and the sanctions imposed by the US, the EU and allies against the Russian Federation, it is hardly worth expecting a reversal of the bearish trend in the financial markets. In addition, the US Federal Reserve's tightening of monetary policy remains a supporting factor for the dollar, so bears on the dollar should still be extremely cautious.

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