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18 Mar 2014
Flash: Markets calm, eyes on Crimea - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, notes that markets remain calm although they would keep an eye on the events from Crimea.
Key Quotes
"The Crimea standoff continues to dominate market talk, with the latest development being that a decree has now been signed by Russian President Vladimir Putin recognising Crimea as a sovereign state, which paves the way for Crimea to be absorbed into Russia. As a result the domino effect of sanctions and political fallout has begun with the EU and US imposing sanctions on 21 officials from Russia and Ukraine that they believed were behind the intervention on Ukrainian sovereignty."
"President Putin was not among the list, although the expectation is that sanctions would be increased in face of further Russian intervention".
"Markets remain relatively calm with Russia stock markets performing resiliently and safe haven currency rallies stalling for now, particularly the US dollar that is making a meal of attempting to break lower through the 1.6600 level in GBPUSD. For markets, the Crimea situation is still very much a ‘wait and see’ scenario."
Key Quotes
"The Crimea standoff continues to dominate market talk, with the latest development being that a decree has now been signed by Russian President Vladimir Putin recognising Crimea as a sovereign state, which paves the way for Crimea to be absorbed into Russia. As a result the domino effect of sanctions and political fallout has begun with the EU and US imposing sanctions on 21 officials from Russia and Ukraine that they believed were behind the intervention on Ukrainian sovereignty."
"President Putin was not among the list, although the expectation is that sanctions would be increased in face of further Russian intervention".
"Markets remain relatively calm with Russia stock markets performing resiliently and safe haven currency rallies stalling for now, particularly the US dollar that is making a meal of attempting to break lower through the 1.6600 level in GBPUSD. For markets, the Crimea situation is still very much a ‘wait and see’ scenario."