|

Kremlin declines to comment on Bucha allegations and how they will affect peace talks

The Kremlin, in a statement on Monday, declined to comment on Bucha allegations and how they will affect the talks.

The Russian government office said it condemns comments by the leader of Poland's ruling party saying Warsaw would be open to having US nuclear weapons on its soil.

“Such action would only lead to heightened tensions,” the Kremlin added.

On Sunday, Ukraine accused Russia of genocide after mass graves and 20 bodies in civilian clothes were recovered from Bucha town on the outskirts of the capital city of Kyiv, per AFP.

World leaders condemned those atrocities in Bucha while Russia denied the allegations, calling it a ‘provocation’ by Ukraine.

In light of the Russian attacks on innocent civilians, the European Union (EU) is preparing further sanctions against Moscow.

Polish Prime Minister Mateusz Morawiecki responded by saying, "The crimes Russia has committed on close to 300 inhabitants of Bucha and other towns outside Kyiv must be called acts of genocide and be dealt with as such.”

"Everyone responsible - directly or indirectly- must be severely punished by an international tribunal,” he added.

Market reaction

The S&P 500 futures are seen recovering after a brief pullback in the last hour while the European stocks are also clawing back early losses. Despite a better mood, investors will remain on the edge ahead of another round of peace talks between Russia and Ukraine.

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

More from Dhwani Mehta
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD declines toward 1.1700 on solid USD recovery

EUR/USD turns south and declines toward 1.1700 on Wednesday. A solid comeback staged by the US Dollar weighs heavily on the pair, as traders look to USD short covering ahead of US CPI on Thursday. However, the downside could be capped by hawkish ECB expectations. 

GBP/USD slides toward 1.3300 after softer-than-expected UK inflation data

GBP/USD has come under intense selling pressure, eyeing 1.3300 in the European session on Wednesday. The UK annual headline and core CPI rose by 3.2% each, missing estimates of 3.5% and 3.4%, respectively, reaffirming dovish BoE expectations and smashing the Pound Sterling across the board. 

Gold clings to modest gains above $4,300

Following Tuesday's volatile action, Gold regains its traction on Wednesday and trades in positive territory above $4,300. While the buildup in the USD recovery momentum caps XAU/USD's upside, the cautious market stance helps ithe pair hold its ground.

Bitcoin risks deeper correction as ETF outflows mount, derivative traders stay on the sidelines

Bitcoin (BTC) remains under pressure, trading below $87,000 on Wednesday, nearing a key support level. A decisive daily close below this zone could open the door to a deeper correction.

Monetary policy: Three central banks, three decisions, the same caution

While the Fed eased its monetary policy on 10 December for the third consecutive FOMC meeting, without making any guarantees about future action, the BoE, the ECB and the BoJ are holding their respective meetings this week. 

AAVE slips below $186 as bearish signals outweigh the SEC investigation closure

Aave (AAVE) price continues its decline, trading below $186 at the time of writing on Wednesday after a rejection at the key resistance zone. Derivatives positioning and momentum indicators suggest that bearish forces still dominate in the near term.