Themes

• General mood is “risk off”
• Wires: Ukraine has requested a meeting with Russia
• All eyes on wires pending an escalation in the Ukraine

What’s Moving

There was a little bit of USD profit taking out of the chute this morning, with locals taking profits on their longstanding USD longs after the overnight strength on the threat of war in the Ukraine. War talk has also helped to continue to support the oil price in Asian dealings today.

Currencies largely held overnight ranges, while gold dipped back slightly, and oil extended to new highs. Conflict involving Russia would most likely effect oil supply globally.

With no major data for release tonight the focus will remain on comments coming out of Russia and the U.S. about the Ukraine. There are also a couple of key monetary speakers on tap tonight.

Data tonight sees:

• Swiss PPI (E: +0.2%)
• U.S. Mortgage Delinquencies
• While FOMC’s Bullard and ECB’s Lagarde are set to speak