Let’s Not Avoid Russia – Ukraine ongoing Uncertainty, Have a Look on Key Headlines & Gold Too; March 11, 2022

Let’s not Avoid Russia – Ukraine ongoing Uncertainty, Have a Look on Key Headlines & Gold ofcourse

The world and the Global Financial markets have digested the uncertainty over Russia – Ukraines war. We have seen mixed behaviour of U.S. dollar against major peers as U.S. dollar has strengthened against Japanese Yen, Euro & Pound while U.S. dollar seems depreciateing against CAD and AUD both. Today Gold remains volatile and but remains well supported above $1,970 marks.

Traders await for the major two bills pass by the U.S. parliament and that are Bill on Digital Currency and the other on sanctions regarding Russia’s Gold Reserves. Let’s wait for the time being and keep an eye on key economic, geo political movement going across the globe.

• Ukraine hopes humanitarian corridor will beopened from city of Mariupol on Friday, say deputy PM.
• Bombs hit near airports in west Ukrainian cities Ivano-Frankiivsk and Lutsk, far from Russia’s main push, reports AP.
• Ukraine says it will no longer buy Russian nuclear fuel, reports Reuters.
• UK says it remains highly unlikely that Russia successfully achieved objectives outlined in pre-invasion plan for Ukraine (Reuters).
• A $13.6 billion emergency package of military and humanitarian aid for besieged Ukraine and its European allies easily won final congressional approval on Thursday, hitching a ride on a government-wide spending bill that’s five months late but loaded with political prizes for both parties.
• UN council to meet on Russian claim of U.S. labs in Ukraine.
• U.S. President Joe Biden will announce actions on Friday to continue to hold Russia accountable for the war on Ukraine, say White House (Reuters).
• U.S. President Joe Biden will announce actions on Friday to continue to hold Russia accountable for the war on Ukraine, say White House (Reuters).
• Canada’s Prime Minister Justin Trudeau said during a visit to Poland that his country will take as many refugees fleeing war in Ukraine “as we can”.
• Ukrainian President Volodymyr Zelenskyy denied Russia’s accusation that Ukraine is preparing to attack with chemical or biological weapons, and he said the accusation itself was a bad sign.
• IMF expects to cut global growth forecast due to Ukraine war, Managing Director Kristalina Georgieva said.
• The United States has no intention of sending our military troops to Ukraine to fight a war against Russia… Our assessment is based on is how to prevent a world war: White House Press Secretary Jen Psaki.

Technical View:

XAU/USD (Gold):

• Gold starts a new day on a lower note and hovers around $1,990 mark.
• Today pair made intraday high at $1,999 and low at $1,981 mark.
• A triple EMA on a day chart is up and H1 chart suggests bearish trend for the time being.
• A sustained close above $1,998 on H1 chart requires for the upside rally.
• Alternatively, a consistent close below $1,970 on H1 chart will check further supports.

Take a look and do trade wisely!
Good Luck