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MTrading • 2022-03-10

Assets recover while Russia prepares response to Western sanctions

Assets recover while Russia prepares response to Western sanctions

It’s the third week now since the Russia-Ukraine conflict started. The impact on global economies is still dramatic. World’s most powerful corporations keep suspending their activities in Russia with Sony, Nintendo, Caterpillar, Honeywell, and others having just joined this massive exodus. Visa and Mastercard have stopped servicing Russian cards today. 

In response to the current sweeping sanctions, Russia has warned the Western countries about nationalising inactive foreign assets. China shares the anti-sanctions sentiment blaming the West for the created tension. Chinese Foreign Ministry spokesman Zhao Lijian has just stated that China’s government would take decisive action if Western countries put pressure on Chinese companies due to the sanctions imposed on Russia.

Talking about the future, the heads of the European Union states are going to phase out purchasing Russian oil, gas and coal to reduce dependence on Russian energy resources so new rates are about to come. 

Let’s see how the main assets react on March 10.

  • BRENT OIL regains 4.88% moving to 116.73 yet resting far from the latest highs.
  • GOLD recovers 0.13% from the recent down position and lends at the 1,990.70 rate.
  • USD INDEX adds 0.30% and reaches 98.237.
  • DOW JONES is traded 2.00% higher rising to 33,286.25.
  • NASDAQ goes 3.58% up moving to 13,742.20.
  • DAX loses 2.15% and rests at the recent middle 13,550.43 rate.
  • FTSE 100 lends at the 7,123.60 rate traded 0.91% lower.

Current trends

The assets shift to ambiguity with some showing neutral tendencies. Here you can see the currently recognized trends.

  • Buy: FTSE 100
  • Neutral: GOLD, DOW JONES, DAX

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