Stocks Fall Globally; WTI Crude Oil Hits $127; Wheat Above $12; Euro Continues to Weaken
Enter your emailThe war in Ukraine continues to hit stock markets and boost commodities hard, especially crude oil and wheat.
The war in Ukraine and resultant nuclear threats from Russia are having a strong impact on financial markets, with no end in sight., exceeding $127 per barrel in trading yesterday, a new 13-year high price. Crude Oil is now at a price which will begin to impact global economic growth. Stock markets fell strongly yesterday. The S&P 500 Index made its lowest daily close since June 2021 yesterday.
Gold continues to look bullish, hovering close to $2,000 an ounce, and may well go on to test its all-time high of $2,075 later this week.The Euro is currently the weakest major currency in the Forex market due to the economic and political impact of the growing economic boycott and fear that the war in Ukraine may widen to become an Europe-wide conflagration. The Euro has dropped below parity with the Swiss Franc for the first time since 2015.