Forex Today: Dollar keeps its footing to start the week By eren_fxstreet Currencies Majors RussianFederation Ukraine Macroeconomics
The greenback preserves its strength to start the week as investors assess the latest developments surrounding the Russia-Ukraine crisis. The, which registered gains for the fifth straight time last week, is up modestly near 99.00 early Monday and market participants are likely to remain focused on geopolitical headlines in the absence of high-tier macroeconomic data releases.
Over the weekend, officials from Russia and Ukraine sounded optimistic about an agreement. Ukrainian negotiator and presidential adviser Mykhailo Podolyak said on Sunday that Russia was talking constructively and added that they could achieve some results in a matter of days. On a similar note, Russian delegate Leonid Slutsky said that talks made substantial progress. The next round of talks, via a video conference, is expected to start at 0830 GMT on Monday.
Meanwhile, markets remain cautious on reports of Russian airstrikes hitting a large military base near Lviv. According to the UK's Ministry of Defence, Russian troops are trying to "envelop" Ukrainian forces in the east of Ukraine. Furthermore, news of China locking down Shenzen on the surging number of coronavirus cases is also weighing on sentiment. Later in the day, US and China will reportedly hold high-level, in-person talks.
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