Russia continues to remain isolated from the civilized world, but attacks on Ukraine are only intensifying
Economic sanctions continue to be imposed on Russia. Already 37 countries have closed their airspace to Russian airlines, Russian planes, and private planes of Russian oligarchs. According to preliminary information, US brokers have begun closing accounts for clients from Russia. Ford and BMW have suspended operations in Russia. Apple stopped selling its products in Russia; ApplePay is already disabled; with a high probability, the AppStore will be shut down in the coming days. European Stoxx indices will exclude 61 Russian companies from its indices in response to Russia’s actions in Ukraine. DHL has stopped delivering shipments and documents to Russia and Belarus.
Russian billionaires Mikhail Fridman and Petr Aven have said they would challenge European Union sanctions imposed on them over Russia’s invasion of Ukraine.
Oil continues to rise even as the International Energy Agency announced a coordinated release of 60 million barrels of consumer countries’ emergency reserves to help 31 member countries. The EIA said it intends to send a unified and compelling signal to global oil markets that there will be no supply shortage of supply due to Russia’s invasion of Ukraine. But analysts believe reducing Russian energy supplies to the market may be too big to ignore. About 10% of the world’s crude oil reserves and 40% of Europe’s gas needs are supplied by Russia.
Asian markets have been declining since opening today. Japan’s Nikkei 225 (JP225) decreased by 1.68%, Hong Kong’s Hang Seng (HK50) lost 1.84%, Australia’s S&P/ASX 200 (AU200) added 0.28% today. Australia’s GDP increased by 3.4% last quarter. But analysts are confident that growth should not be expected next quarter as the country faces higher inflation and economic pressure on households amid Russia’s invasion of Ukraine.
S&P 500 (F) (US500) 4,306.26 -67.68 (-1.55%)
Dow Jones (US30) 33,294.95 -597.65 (-1.76%)
DAX (DE40) 13,904.85 -556.17 (-3.85%)
FTSE 100 (UK100) 7,330.20 -128.05 (-1.72%)
USD Index 97.39 +0.69 (+0.71%)
News feed for: 2023.07.04
- Australia GDP (q/q) at 02:30 (GMT+2);
- German Unemployment Rate (m/m) at 10:55 (GMT+2);
- Eurozone Consumer Price Index (m/m) at 12:00 (GMT+2);
- OPEC+ Meeting at 12:00 (GMT+2);
- US ADP Nonfarm Employment Change (m/m) at 15:15 (GMT+2);
- US FOMC Member Bullard’s Speech at 16:30 (GMT+2);
- Canada BoC Interest Rate Decision (m/m) at 17:00 (GMT+2);
- Canada BoC Rate Statement (m/m) at 17:00 (GMT+2);
- US Fed Chair Jerome Powell Testifies at 17:00 (GMT+2);
- US Crude Oil Reserves (w/w) at 17:30 (GMT+2).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
