Ukraine Update: G7 foreign ministers due to meet in Brussels on Thursday, 7 April

Dhwani Mehta FXStreet

Amid intensifying Russia-Ukraine crisis, the West is considering tougher sanctions and penalties against Russia following the latter’s increased atrocities on Ukrainian civilians.

In response to that, Group of Seven (G7) foreign ministers will meet on April 7, Thursday, per Reuters.

In the last hour, it was reported that the US Ambassador to Poland Mark Brzezinski is set to sign a deal tomorrow with Polish Defense Minister Mariusz Blaszczak to buy 250 upgraded M1A2 tanks and ammunition, support and recovery vehicles, GPS receivers and other equipment.

Meanwhile, Ukrainian President Volodymyr Zelenskyy will speak Tuesday during a United Nations (UN) Security Council meeting on the conflict in his country.

Market reaction

The market mood remains mixed, as investors weigh in the chances of a faster Fed’s tightening against global economic growth concerns and the worsening Ukraine crisis.

The S&P 500 futures are down 0.07% on the day while the Asian markets trade rangebound to higher, with China and Hongkong observing a national holiday.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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