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On March 1, the "Measures for the Supervision and Administration of Market Measurement" was officially implemented on March 1, which will further strengthen the main responsibility of the organizers of the market and regulate the behavior of operators. Market supervision departments in various places will carry out a series of crackdowns on "ghost scales" in the near future, so that the public can buy "scales" as they wish and safeguard the legitimate rights and interests of consumers.On March 1, at noon on February 28, local time, US President Trump had a fierce quarrel with visiting Ukrainian President Zelensky during his meeting. At this time, Ukrainian Ambassador to the United States Oksana Markarova was photographed by the media at the scene. She was seen pinching her eyebrows with her right hand, and her face was unbearable to look at. At that time, Trump, US Vice President Vance and Zelensky quarreled in front of the media, and the meeting ended unhappily. The planned mineral agreement was not signed, and the joint press conference of the two sides was canceled. It is reported that Zelensky has left the hotel where he is staying in the United States.After the meeting with US President Trump on February 28 local time ended unpleasantly, Ukrainian President Zelensky spoke with French President Macron and NATO Secretary-General Rutte on the phone. He will also attend the European Summit in London, England this weekend and meet with European leaders. Macron, who is visiting Portugal, told the media, "We must thank all those who have helped and respected those who have been fighting from the beginning." German Chancellor Scholz said, "Ukraine can rely on Germany and Europe." Spanish Prime Minister Sanchez said, "Spain stands with Ukraine." European Commission President von der Leyen and Polish Prime Minister Tusk said, "Ukraine is not alone." In addition, many European leaders have expressed support for Zelensky. But there are also leaders such as Italian Prime Minister Meroni who said that "the United States, European countries and other allies should hold a summit immediately." Hungarian Prime Minister Orban expressed support for Trump.According to the Indonesian Meteorological, Climate and Geophysical Bureau, a magnitude 6.0 earthquake occurred in the Banda Sea of Indonesia at 4:58 a.m. local time on March 1, with a focal depth of 158 kilometers.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, stock fund managers reduced their net long positions in the S&P 500 CME by 35,958 contracts to 912,052 contracts. Speculators reduced their net short positions in the S&P 500 CME by 25,964 contracts to 339,937 contracts.

US Dollar Index reaffirms 20-year high on Ukraine-related news

Alina Haynes

Sep 26, 2022 14:32

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While risk aversion rises on Monday morning, the US Dollar Index (DXY) is still bullish over 113.80. It recently reclaimed the 20-year high above 114.70. In addition to bad attitude, Fed members' hawkish views also assist the US currency.

 

The head of the Federal Reserve, Jerome Powell, said, "We are committed to deploying our tools," on Friday. Fed Vice Chair Lael Brainard then added that low-income people are feeling the effects of "hard" inflation. Despite the economy's continuing speed, Atlanta Federal Reserve President Raphael Bostic told CBS' "Face the Nation" over the weekend that he still believes the central bank can cut inflation without substantial job losses.

 

Recent US S&P Global PMIs for August, issued on Friday, showed an increase in the Manufacturing index to 51.8 from 51.5, and an increase in the Services index to 49.0 from 44.6.

 

The president of Ukraine, Zelenskiy, was recently mentioned on a different page of a CBS article as saying, "Putin's nuclear threats may have been a bluff, but now it may be a reality." While Russia's foreign minister said annexing territory hosting widely criticized referendums would be met with complete protection from Moscow, the United States warned of "catastrophic ramifications" if Moscow utilized nuclear weapons in Ukraine.

 

Despite the Fed's hawkish attitude and rate increase, risk aversion gripped Wall Street, and rates helped the US currency stay higher. Although this occurs, S&P 500 Futures only fall by a few points as 10-year US Treasury yields climb by four basis points to 3.74 percent.

 

The US dollar index's future strength against major currencies may be aided by investors' reluctance to take on additional risk. Still, comments from Fed Chair Powell and US Durable Goods Orders are major triggers to keep an eye on for clues about the market's future course.

 

A daily close above 114.00, which coincides with a higher-trending resistance line from May, is needed for the DXY bulls to keep control. Dollar investors, however, should be wary of the indicator's current overbought reading of 14.


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