Ukraine Envoy to Japan: Fully committed to diplomatic solution to current tensions with Russia

Dhwani Mehta FXStreet

“We are fully committed to a diplomatic solution to current tensions with Russia,” Ukrainian Ambassador to Japan Sergiy Korsunsky said in a statement on Wednesday.

Korsunsky added, “we have no plan to attack any part of occupied territories.”

“If Russia is allowed to move forward with force, we will see more such cases in the world,” Ukrainian envoy to Japan said.

Korsunsky went onto say that “if you have an energy crisis in Europe, you have an energy crisis in Asia.”

Late Tuesday, when asked about whether he could see Russian leader Vladimir Putin facing US sanctions, President Joe Biden said, “Yes, I would see that.”

Further comments

“As I’ve said, there are going to be serious economic consequences if he moves.”

“If he were to move in with all those forces, it would be the largest invasion since World War II. It would change the world.”

Market reaction

The above conciliatory comments help ease off the tensions between Russia and Ukraine, underpinning the risk-on trading in Asia so far this Wednesday.

The S&P 500 futures gain 0.15% on the day while AUD/USD consolidates the recent recovery above 0.7150. All eyes remain on the Fed verdict.

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.

EUR/USD remains below 1.1850 after US data

EUR/USD struggles to gain traction and trades in a narrow range below 1.1850 on Wednesday. The US Dollar stays resilient against its rivals following the better-than-expected Durable Goods Orders and housing data, limiting the pair's upside ahead of FOMC Minutes.

GBP/USD stays in narrow channel above 1.3550 ahead of FOMC Minutes

GBP/USD holds its ground following Tuesday's slide and moves sideways above 1.3550 midweek. Although the data from the UK confirmed that inflation cooled in January, the positive shift seen in market mood helps the pair keep its footing as investors wait for the Fed to publish the minnutes of the January policy meeting.

Gold regains some shine, retargets $5,000 ahead of FOMC Minutes

Gold gathers fresh upside traction on Wednesday, leaving part of the weakness seen at the beginning of the week and refocusing its attention to the key $5,000 mark per troy ounce, all ahead of the release of the FOMC Minutes and despite the modest uptick in the US Dollar.

Fed Minutes to shed light on January hold decision amid hawkish rate outlook

The Minutes of the Fed’s January 27-28 monetary policy meeting will be published today. Details of discussions on the decision to leave the policy rate unchanged will be scrutinized by investors.

Mixed UK inflation data no gamechanger for the Bank of England

Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple face downside risk as bears regain control

Bitcoin, Ethereum, and Ripple remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.