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[QUOTE="Solid ECN, post: 205650, member: 83167"] [JUSTIFY][B]EURUSD[/B] The European currency shows weak growth against the US dollar during the Asian session, developing a corrective momentum and testing 1.0900 for a breakout; however, further development of the "bullish" dynamics for the instrument is limited by negative market sentiment regarding the growth prospects of the eurozone economy. Analysts pay attention to the sharp increase in quotations on commodity markets after Russian President Vladimir Putin initiated a special military operation in Ukraine. Subsequently, the authorities of the Western countries imposed unprecedented sanctions on the Russian economy, and many global companies decided to refuse cooperation with business partners from Russia. In addition, the United States announced the day before that the country was completely refusing to import Russian oil, gas and other energy carriers, which is likely to further aggravate the situation on the commodity markets. Europe, in turn, will not yet be able to completely ban Russian imports, since it is much more dependent on it. However, further restrictions are possible, and, for example, the UK said earlier in the week that it intends to cut off Russian energy supplies by the end of 2022. This week, investors will focus on the decision of the European Central Bank (ECB) on interest rates. The meeting will take place on Thursday, March 10, and current market forecasts suggest that the regulator will not change the parameters of monetary policy. Moreover, it is quite possible that the ECB will not raise rates at all this year, given the possible slowdown in economic growth in the region.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]GBPUSD[/B] The British pound traded upwards against the US dollar during the morning session, retreating from record lows since November 2020, updated the day before. At the moment, GBP/USD is trying to consolidate above 1.3100, but there are few significant support factors for the pound on the market. Demand for high-yield assets remains subdued as investors worry about a further escalation of the conflict in Ukraine and watch the West's attempts to effectively paralyze the Russian economy with new sanctions and restrictions. The day before the United States announced a complete ban on the import of Russian energy, but noted that they do not require similar actions from their European partners. The UK, however, also announced its intention to abandon Russian imports of oil and petroleum products by the end of 2022. Investors are waiting for the publication of a block of macroeconomic statistics from the UK at the end of the week. Among other things, traders will pay attention to the January data on the dynamics of GDP and industrial production. Current forecasts suggest that the UK economy will grow by 0.2% in January after declining by 0.2% in December. Industrial Production may increase by 1.9%, accelerating from 0.4%.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]AUDUSD[/B] The Australian dollar shows moderate growth against the US currency in the Asian session, correcting after a strong decline at the beginning of the week. The instrument showed a steady decline on Monday and Tuesday, quickly retreating from its local highs from November 4, 2021. The reason for the appearance of negative sentiments on the market was the US statements about the possibility of a complete embargo of Russian oil, gas and other energy resources. Europe, in turn, remains dependent on supplies from Russia, although the tendency to refuse or replace resources has formed. Some pressure on the positions of the Australian currency today is exerted by weak macroeconomic statistics from Australia. Westpac Consumer Sentiment Index fell 4.2% in March after falling 1.3% in February. Analysts had expected an improvement in the dynamics of the indicator to -1.1%. Also, traders drew attention to the speech of the Governor of the Reserve Bank of Australia (RBA) Philip Lowe, who noted that the Australian economy is close to reaching inflation targets. In addition, Lowe said that the regulator at the moment will not rush to tighten monetary policy, given the deteriorating geopolitical situation in the world and a surge in activity in the commodity markets.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]USDJPY[/B] The US dollar shows a weak growth in pair with the Japanese yen at the trading in Asia, testing the levels of 115.80-115.90 for a breakout and updating local highs from February 15. Demand for the dollar remains strong as market participants continue to assess the prospects for global economic growth in the light of a sharp aggravation of the geopolitical situation in Eastern Europe. Western countries have imposed an unprecedented number of sanctions against the Russian Federation in response to its special military operation in Ukraine. In turn, weak macroeconomic statistics from Japan exerts pressure on the yen's positions today. Japan's GDP in Q4 2021 grew by 1.1%, slowing down from 1.3% in the previous period. Market forecasts assumed the acceleration of the Japanese economy up to 1.4%. In annual terms, GDP rates slowed down from 5.4% to 4.6%, which also turned out to be worse than experts' forecasts of acceleration to 5.6%.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]XAUUSD[/B] Gold prices continue to develop "bullish" dynamics, trading above the psychological level of 2000.00 and renewing the highs since August 2020 against the backdrop of a massive withdrawal of investors from risks due to aggravated geopolitical tensions. Quotes of the precious metal are actively rising against the backdrop of a deteriorating situation in Ukraine, where Russian troops continue to conduct a special military operation, which has already led to the introduction of unprecedented sanctions against the Russian economy by Western countries. Foreign companies are leaving the Russian market en masse, creating the threat of a sharp weakening of the investment flow. The key moment at the present time remains the export of energy carriers by the Russian Federation, including oil and gas. The US announced the day before that the country was refusing Russian imports, but does not expect that its European partners will be able to take similar measures in the near future. However, the EU is also concerned about the issue of energy security, and the UK, for example, announced its intention to stop importing Russian energy carriers before the end of the year. Meanwhile, oil and gas prices continue to break records in the market, threatening Western economies with a sharp increase in inflationary pressures.[/JUSTIFY] [/QUOTE]
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