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On December 21, Russian Presidential Aide Ushakov told the media that the proposal to hold trilateral talks between Russia, the United States, and Ukraine has not yet been put on the agenda or discussed. He also pointed out that the modifications proposed by Ukraine and Europe to the Russia-Ukraine "peace plan" are not conducive to advancing the agreement. Ushakov confirmed that Russias Special Representative for Foreign Investment and Economic Cooperation, Dmitriev, is currently in Miami holding talks with the US. He revealed that Dmitriev will report on the results of the talks with the US after returning to Moscow. On the same day, Russian Presidential Press Secretary Peskov told the media that President Putin has no plans to speak with US President Trump before the end of the year, but arranging a call would be easy.On December 21st, according to Japanese sources, during a debate program, Itsunori Onodera, chairman of the Liberal Democratic Partys (LDP) Security Research Council, proposed that it is necessary to discuss the definition of the "Three Non-Nuclear Principles." He discussed Japans current reliance on the US "nuclear umbrella," stating, "This is one of the issues that should be discussed." Onodera said the LDP plans to submit a related motion to the Cabinet in February next year to promote discussion in the Diet. The "Three Non-Nuclear Principles" refer to not possessing, manufacturing, or introducing nuclear weapons. Recently, several political parties, politicians, and numerous civic organizations in Japan have called for adherence to the "Three Non-Nuclear Principles" to avoid a repeat of the tragedy of war.Kremlin: The idea of a trilateral meeting between Russia, the United States, and Ukraine has not yet been discussed.On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.

EUR/USD Is Likely to Fall Below 1.0850 Due to Ukraine Crisis and Hawkish ECB Minutes

Drake Hampton

Apr 08, 2022 10:11

  • EUR/USD is aiming for further loss as the DXY strengthens amid renewed talk of restoring neutral rates.

  • The common currency has been unable to benefit from hawkish ECB minutes and solid retail sales.

  • Members of the United Nations Human Rights Council voted in favor of Russia losing its associate status.

 

The EUR/USD pair is on a six-day losing run and is expected to extend losses on Friday as investors anticipate an escalation in the Ukraine issue following Russia's withdrawal from the United Nations (UN) Human Rights Council. The members of the United Nations Human Rights Council agreed to expel Russia after Russian separatists committed war crimes in Bucha, Ukraine. As world nations isolate Russia from key communities, Russian President Vladimir Putin may de-escalate progress negotiations with Ukraine, resulting in an escalation of the Ukraine issue.

 

Meanwhile, the hawkish minutes of the European Central Bank's (ECB) March monetary policy meeting have done little to bolster the common currency. The majority of ECB policymakers have backed swift action via monetary policy to rein in spiraling inflation. Apart from that, the ECB should terminate its Asset Purchase Program (APP) now that its declared purpose has been met.

 

Along with the hawkish ECB minutes, the shared currency has been unable to profit on the Euro Retail Sales' outperformance. Eurostat reported Retail Sales at 5%, up from the preliminary estimate of 4.8 percent but notably below the prior print of 8.4 percent.

 

On the dollar front, the US dollar index (DXY) is on the lookout for a catalyst that could propel the asset toward the much-anticipated resistance level of 100.00. Federal Reserve (Fed) policymakers have begun to consider restoring policy rates to neutral in the face of rising inflation and the goal of a self-sufficient economy.

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