Russia will not concede anything at peace talks with Ukraine, delegate says - Russia state media

Joel Frank Independent Analyst

The Russian delegation at peace talks with Ukraine will not concede anything, reported Russia's state-run RIA media outlet on Wednesday, citing comments from a Russian delegate.

Market Reaction

As liquidity conditions dry up as the US session draws to a close ahead of the arrival of Asia-based market participants, markets have not seen much of a reaction to the latest headlines. However, ahead of Thursday's high-level talks between the Russian and Ukrainian Foreign Ministers in Turkey, such chatter about "not conceding anything" doesn't exactly inspire confidence that the two sides can make some progress towards reaching a compromise and agree on a ceasefire.

For now, its unwise to read too much into pre-meeting jawboning, with neither side likely wanting to play their hand yet. But headlines such as this won't be helpful to risk appetite and, indeed, did seem to be associated with some negative ticks in the US equity space ahead of the Wednesday close.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

EUR/USD clings to modest gains above 1.1550 post-US CPI

EUR/USD stays in positive territory above 1.1550 in the American session on Wednesday. The data from the US showed that the annual CPI inflation climbed to 4.2% in May. This print came in line with the market expectation and made it difficult for the USD to gather strength.

GBP/USD pulls away from session highs, stays above 1.3400

GBP/USD stays in positive territory slightly above 1.3400 despite pulling away from session highs. The cautious market stance helps the US Dollar limit its losses and cap the pair's upside as investors assess the US inflation data, which showed that the CPI rose 4.2% on a yearly basis in May.

Gold trades at fresh 10-week low below $4,200

Gold builds on Tuesday’s losses and remains under heavy pressure, gyrating around the $4,150 mark per troy ounce as investors evaluate the latest US CPI data on Wednesday. Meanwhile, developments from the Middle East crisis and the likelihood of a more cautious Fed in the next few months continue to weigh on the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments.

Brutal sell-off: Silver deepens months-long slide, refocusing on $60

Silver has never been known for its calm temperament. The precious metal can spend weeks grinding higher before suddenly giving back months of gains in a matter of days. That volatile reputation has been on full display in recent weeks.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.