- Russian Ruble secures gains against Euro in volatile trade
- Risk-on sentiment appears to have returned
- German’s DAX 30 surprising +7.9% gain erases weekly losses
- ECB interest rate decision eyed next
The Ruble Euro (RUB/EUR) exchange rate declined on Wednesday, but the losses were erased early Thursday morning. The pair depreciated -8.72% yesterday, settling at €0.00659, but not before it touched a high of €0.00788.
At 08:00 UTC AM, RUB/EUR trades slightly up +4.86% at €0.00753 showing some signs of life for the first time in a while.
Meanwhile, as the Russian invasion of Ukraine enters the fifteen-day, the risk-on sentiment appears to have returned.
Germany’s stock market index secures surprising +7.9% gains and settled at 13,847 as risk appetite improves. The risk-on rally has been cheered by the markets which have been roiled by energy price shocks, global inflation, supply disruptions and slower global growth prospects.
Elsewhere, WTI crude oil futures price depreciated -12.13% to settle at $108.70 per barrel.
The RUB to EUR pair will take more cues from the upcoming ECB interest rate decision.
The European Central Bank (ECB) is expected to hold the benchmark interest rate unchanged at 0.0% despite higher inflation pressure. According to a Reuters poll, most economists expect the ECB to wait until the end of 2022 to raise interest rates. This would be the first ECB rate hike in a decade.
A message from Wise (formerly TransferWise)
Our team is made up of over 90 nationalities, with offices all over the world — including Cherkasy — so we felt it important to put together resources for donating, and sending money to Ukraine. You can access this
support hub here.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
