Euro Advances As Russia-Ukraine Peace Talks Begin
29 Marzo 2022 - 11:31PM
RTTF2
The euro climbed against its major counterparts in the European
session on Tuesday, on optimism over peace talks between Ukraine
and Russia taking place in Turkey aimed to secure a ceasefire
deal.
The two-day face-to-face talks began at 7:30 GMT, with Turkish
President Recep Tayyip Erdogan calling for an immediate
ceasefire.
Ahead of the talks, the Ukrainian President said that his
government is ready to consider Russia's demand of adopting a
neutral status and compromise over the status of the eastern
Donbass region.
Ukrainian officials played down the chances of a major
breakthrough at the talks, while a Kremlin spokesperson said that
sanctions on trade and oligarchs were akin to "total war" against
Russia.
Data from Destatis showed that Germany's import price inflation
moderated slightly in February but remained at an elevated
level.
Import prices grew 26.3 percent on a yearly basis in February,
slower than the 26.9 percent increase in January. The rate was
forecast to remain stable at 26.9 percent, which was the strongest
since October 1974.
The euro firmed to a 4-day high of 1.1018 against the greenback
and an 8-day high of 0.8406 against the pound, off its prior lows
of 1.0969 and 0.8383, respectively. If the euro rises further, it
may find resistance around 1.12 against the greenback and 0.86
against the pound.
The euro rose to 1.0300 against the franc, from a low of 1.0251
seen in early deals. Against the loonie, it rebounded to 1.3771.
The euro is seen finding resistance around 1.05 against the franc
and 1.39 against the loonie.
The euro touched a 1-week high of 1.5971 against the kiwi, after
falling to 1.5902 in the Asian session. The next possible
resistance for the euro is seen around the 1.62 level.
The euro rebounded to 136.33 against the yen and 1.4690 against
the aussie, from its early lows of 135.31 and 1.4636, respectively.
The euro is poised to challenge resistance around 138.00 against
the yen and 1.48 against the aussie.
Looking ahead, U.S. consumer confidence index for March, FHFA's
house price index and S&P/Case-Shiller home price index for
January will be out in the New York session.
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