Russian Rouble Recovers From All-time Lows – Trading At Around 83 Vs Dollar In Volatile Trade

Punchy headlines from the Kremlin ~ All via Reuters: PUTIN WILL NOT TALK TO MEDIA AFTER HOLDING TALKS WITH PAKISTAN’S PRIME MINISTER PUTIN WILL HOLD MEETING LATER ON THURSDAY WITH LEADERS OF RUSSIA’S BIGGEST COMPANIES PUTIN WILL DECIDE HOW LONG RUSSIA’S MILITARY OPERATION IN UK

Spot Palladium rises over 8%: Gold up over 3%

„Urgency and consensus is utmost priority at the moment,“ said an EU diplomat, adding that at this stage it meant no move on SWIFT, because doing so would have such wide-ranging consequences, also in Europe~ We know that cutting Russia off from SWIFT is the ’nuclear option‘ – appears some EU politic

Prior -5.4%Market index 466.4 vs 537.0 priorPurchase index 250.7 vs 279.0 priorRefinancing index 1,677.7 vs 1,988.8 prior30-year mortgage rate 4.06% vs 4.05% prior

With new economic data, we will readjust asset purchases if neededThen we will see about raising interest ratesAfter the hawkish tones from Holzmann and Vasle earlier, there isn’t much enthusiasm from de Guindos here.

Not that it really matters for markets at this point, this is more to making it official. The impact of the sanctions are rather minimal at best so it isn’t anything that has a significant impact on the global economy. Carry on as you will.

Adding that the time is right to move out of crisis mode. I reckon he doesn’t mean it should begin immediately but perhaps imminently. It would help a lot if ECB policymakers can provide more clarity and make up their mind but hey, it is the ECB we are talking about.

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Yeah, this doesn’t sound like people who are serious about laying down the hammer. Surprise, surprise. Not!