French Pres. Macron, spoke with Russian Pres. Putin today and urged an immediate cease-fire. No other details have yet to be reported.

Meanwhile EU's Borrell is on the wires saying:

  • We will further hike sanctions against Belarus and against anyone collaborating with Putin on Ukraine
  • On financial sanctions against Russia, says we start thinking we should do more
  • We have mobilized satellite center in Madrid to support Ukraine with intelligence
  • Bloc must reduce as quick as possible exposure to Russian oil and gas
  • I am very happy Switzerland joined us on sanctions against Russia
  • Transferring money to Switzerland won't help Russian oligarchs now. That's really good news
  • Sanctions on Russia will backlash, but we have to be ready to pay this price now

The USDCHF has continued to see more selling in the NY session with the pair now trading below its 200 day MA at 0.9181. Last week, the pair did move below that MA level on a number of occasions but was able to bounce back higher.

USDCHF
USDCHF trades below its 200 day moving average