The lead in to the Asia session:
Forexlive Americas FX news wrap: Total turnaround with sanctions softer than feared
Asia headlines:
- Ex-RBA Board Member says the RBA will probably hike several times in 2022
- US Rubio says it appears at least 36 missiles have been fired at Kyiv the past 40 minutes
- Westpac says the Ukraine tragedy is unlikely to impact the RBA timetable
- US President Biden to meet with heads of state/government from NATO countries on Friday
- Japan gasoline subsidy to go from 5 to 25 yen per litre from March
- Reports of many large explosions in Ukraine's capital, Kyiv
- French president Emmanuel Macron spoke with Putin Thursday evening
- Earthquake hits Northern Sumatra, Indonesia. Magnitude 6.0
- S&P affirms New Zealand rating 'AA+/A-1'
- France will offer 300mn EUR of aid to Ukraine and military equipment
- The Anonymous collective has taken down website of the Russian propaganda station RT News.
- EU'sVon Der Leyen says financial sanctions target 70% of Russian banking market
- Press conference after the special meeting of the European Council on Ukraine - live link
- Ukrainian official says Friday will be the worst day of Russian attack
- Fed's Waller says strong case for a 50bp hike in March if data exceedingly hot
- Ukraine envoy to Japan says Ukraine does not have control of Chernobyl nuclear plant
- PBOC sets USD/ CNY reference rate for today at 6.3346 (vs. estimate at 6.3363)
- China offers Chinese nationals chartered flights to leave Ukraine
- Japan PM Kishida - won't rule out any policy options in taking steps on rising oil price
- Blinken says he's "convinced" President Putin will try to overthrow the Ukraine government
- Australian PM Morrison berates China 4 easing trade restrictions with Russia at this time
- Goldman Sachs on gold - says it could go to $2350
- UK data - GfK Consumer Confidence for February has plummeted
- Japan finance minister Suzuki says will freeze assets in some Russian banks
- Japan PM Kishida says will immediately impose sanctions against Russia
- ANZ says higher wages will 'eventually' require RBA action
- Tokyo area CPI: Headline +1.0% y/y ( expected 0.6%, prior was 0.5%)
- Senior US official says the US has room to impose stricter sanctions if needed
- Ukraine update - media reports up to 60,000 Russian troops in Ukraine
- RBNZ Governor Orr says events in Ukraine exacerbate upside inflation concerns
- Ukraine's President Zelenskyy has signed a decree on general mobilisation
- Brazil central bank prepared to act in FX market
- US House Speaker Pelosi wants to provide Ukraine with $600mn in 'lethal defense weapons'
- Huge miss - New Zealand trade balance for January NZD -1082mn ( expected -500mnNZD)
- New Zealand Q4 2021 real retail sales +8.6% q/q (prior -8.1%)
- A wild day in the US stocks as sharp losses are fully erased (and then some).
The news flow out of Ukraine slowed somewhat from yesterday here during the Asia session but of course events in the country continue to come under intense scrutiny.
There were reports of sporadic explosions, missile & plane attacks (with air defence responses), and sanction responses from Japan, the EU, Australia, New Zealand, France and others.
US Secretary of State Blinken repeated his belief that Putin will attempt an overthrow of Ukraine’s government.
US President Biden will hold a virtual NATO summit from 9am Washington time, closed to media.
Market movement was much more subdued than Thursday. USD/JPY declined net for the session while cable rose back above 1.38. You’ll notice a wobble in the AUD (and kiwi) just after 11am Sydney time. Australian Prime Minister Morrison berated China for easing trade restrictions on Russia ‘at a time like this’, prompting a few bids to be pulled from the Australian dollar. Net for the day now though its little changed.
