The charts view of major pairs and USDRUB
USDRUB
The pair USDRUB tested 100.0000 again this morning. After that, we have a new jump to 116.0000, and it has currently calmed down to 110.0000. The crisis in Ukraine and sanctions continue to put great pressure on the Russian ruble. There are great chances that we will see a further weakening of the Russian ruble, so far, we have not exceeded 120.0000, but this can happen at any moment.
EURUSD
Today, the Euro fell close to a 21-month low amid concerns that Russian military action in Ukraine would jeopardize European growth. At the same time, commodity-linked currencies reached multi-week highs due to rising export prices.
According to the latest available data, the euro traded at $ 1.1000 at the Asian session, slightly above the $ 1.00990 low it fell overnight, its lowest level since May 2020. The eurozone’s single currency was sunk 1.5 percent in the past week and is on track to end its fourth consecutive week with a loss against the US dollar.
AUDUSD
The Australian dollar is trading at 0.73630 US dollars, slightly lower than the four-month high of 0.73850 dollars reached on Wednesday, as the prices of Australian export goods, such as coal, gas, liquefied natural gas, and cereals, jumped due to fears that Western sanctions against Russia will seriously disrupt global supplies.
EURAUD
The euro/AUD is down for nine consecutive sessions against the Australian currency and is changing by 1.49540 Australian dollars, at the lowest exchange rate in the last four years.
“In the current crisis, we believe that the euro is very vulnerable. We have a network of complex relations between the EU and Russian companies at the corporate level, especially in the energy sector. Energy prices have risen, as have the prices of many agricultural products. The war in Ukraine, therefore, hints at even higher and longer-lasting inflation and a possible slowdown in economic growth, “said Jane Foley, a senior foreign-exchange strategist at Rabobank.
GBPUSD
The British pound has also been on a downward trajectory since the Russian attack on Ukraine began, and today in Asian trade, the pound continues to fall slightly against the dollar to $ 1.33123 from yesterday’s low of $ 1.32700.
The US dollar index against the basket of currencies is 98,125 points. The currencies of Eastern European countries are also under pressure, with the Hungarian forint recording record lows against the dollar and the euro overnight, while the Polish zloty fell to its lowest level in two decades.
Bitcoin has lost momentum since the beginning of the week in the crypto market, sinking to about 41,620 dollars. and Ethereum at $ 2,740.
Market overview
German exports and imports fell unexpectedly in January, according to data released by Destatis on Friday.
Exports fell 2.8 percent on a monthly basis, reversing growth of 1.2 percent in December. Deliveries are expected to increase by 1.0 percent. This was the first drop in four months.
Also, imports decreased by 4.2 percent, unlike the growth of 4 percent a month ago. Economists forecast a monthly increase of 2.0 percent. Imports fell for the first time since last July.
As the decline in imports exceeded the decrease in exports, the trade surplus rose to a seasonally adjusted 9.4 billion euros from 8.1 billion euros in the previous month.
Year on year, export growth slowed to 11.0 percent from 15.5 percent in December. Similarly, import growth slowed to 25.6 percent from 28.1 percent a month ago.
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