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On August 19, two people familiar with the matter said Trump called Russian President Vladimir Putin on Monday while Ukrainian President Volodymyr Zelenskyy and seven European leaders gathered at the White House. Trump said earlier on Monday that Putin looked forward to receiving his call after the White House talks. Trump said he hoped to arrange a trilateral summit with Putin and Zelenskyy as soon as possible, but Putin had not yet agreed to the idea. Trump took a break from his meeting with the Europeans to make the call.Ukrainian Air Force: Russian strategic bombers take off and may launch an attack on Ukraine.White House official: The meeting with European leaders in the East Wing has ended.On August 19th, a document revealed that as part of the agreement, Ukraine would commit to purchasing $100 billion worth of U.S. weapons with European funding, with the goal of securing U.S. security guarantees following a peace agreement with Russia. Under the proposals, Kyiv and Washington would also reach a $50 billion agreement to collaborate with Ukrainian companies on the production of drones. These companies have been pioneers in drone technology since the outbreak of the Russo-Ukrainian conflict in 2022. Four people familiar with the matter revealed that Ukraine shared its proposal for a new security agreement with the United States in a list of talking points with European allies ahead of a meeting with U.S. President Trump at the White House on Monday.Ukrainian presidential spokesman: The leaders talks have resumed.

Weekly Market Outlook and Review – Week Ending 20 January

Jimmy Khan

Jan 16, 2023 15:43

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US Federal Reserve Chair Jerome Powell participated in a panel discussion on Tuesday (Central bank independence and the mission - changing viewpoints) in his first public appearance of 2023 and reaffirmed the commitment of the central bank to keep inflation under control. As interest rates are raised to slow the economy, Powell said, "restoring price stability when inflation is strong might involve policies that are not popular in the near term." However, there were few remarks about the new policy.


However, US inflation was the week's primary high point. According to the US Bureau of Labor Statistics, consumer prices decreased for a sixth straight month in the 12 months leading up to December (2022), easing to 6.5%. (BLS). This comes after the June 2022 high of 9.1%. US core annual inflation, which excludes energy and food, decreased by 0.3 percentage points from November's 6.0% figure to 5.7% in the 12 months ending in December.


Risk assets saw a buy as a result of this because market players expect the US Federal Reserve's policy tightening to slow down (Fed). The market has virtually priced in a 25 basis-point rise for the next Fed meeting on February 1 based on the pricing of Fed Fund futures contracts, according to the CME's FedWatch Tool. This move would raise the Federal Funds target range to 4.50%-4.75%.


Major US stock indexes battled their way into another week of gains on the markets (S&P 500 up 2.7%), helped by favorable US inflation data and the start of Q4 results on Friday, which were heavily weighted toward banking companies. While Wells Fargo & Co missed quarterly targets, JPMorgan Chase & Co exceeded them. The closely followed FAANG index in the equities market was noteworthy as well since it had a strong week of gains. Amazon increased by 14.0%, while Netflix was close behind at 5.47%.


The (main) currency market saw notable outperformers including EUR/USD, AUD/USD, and GBP/USD rise by 1.78%, 1.48%, and 1.15%, respectively. The USD/JPY fell by a startling 3.17% for the week, while the USD/CAD lost 0.35%.


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