16 Red

Good morning and Happy Wednesday to all as we look to kick-off mid-week trade. Those who sat in for Wall Street trade would know that price action was tough to non-existent. Before we get to overnight updates out of APAC, a quick update on the Ukraine situation.

Interfax has reported that tanks and armed vehicles have been moved from Crimea, US & Russia have agreed that they have to engage in negotiations but nothing concrete as of yet in regards to the 150,000 troops stationed around Ukraine & Belarus. Resolution on the recognition of two breakaway regions in Eastern Ukraine have been voted in favour by Russian lawmakers, Putin wants more concrete assurances that Ukraine will NOT be accepted as a member of NATO. In short, there are grounds for cautious optimism, but an attack is still possible. US Futures rebounded initially on this but slip during later trade.

On the energy front, Japan Industry Ministry will auction a total of 260,000 kiloliters of oil from its National Reserve on March 9th. WTI crude currently trades around the $92 mark on geopolitical tensions easing.

On the data slate today we have CPI data from the UK at 0700GMT, Industrial Production figures out of the EU at 1000GMT, Trade data (Jan) and Retail Sales figures from the US at 1330GMT along with Canadian CPI data before DoE release at 1530GMT and the FOMC Minutes at 1900GMT.

At 1600GMT we have Fed’s Kashkari speaking at a townhall event and we will be looking out for earnings from Heineken & Carrefour out of the EU then Barrick Gold, Garmin, Shopify and Nvidia out of the US. Do note that WTI March 2022 Options will expire at 1930GMT today.

That is it from me today, trade well all and have a great session ahead. Join us in our Discord room by clicking the purple button below. Enjoy our promotional offer and sign up for the ProTraders package at 50% off by using code: PROTRIAL50. This was – Your Morning Reed.?

Sources: Newsquawk, Bloomberg, Trading Economics, Investing.com

Disclaimer: This piece is for information purposes ONLY & not meant as trading/investment advice. Reader discretion is advised.?