Ukraine and Gaza in Focus Given Sparse Economic Calendar

2014/7/22 2:09:15

The tensions over the downing of the Malaysian commercial plane over the Ukraine/Russian border last week have yet to subside, with findings from the US and Ukraine seeing the tragedy as a mistake carried out by the pro-Russian separatists with assistance from Russian military personnel. As such, it is likely there will be more European sanctions to be announced against Russia within the next few days, mimicking the latest round by the US that were declared last Thursday

 


 

From Forex 21 July 2014

 

After the constructive turnaround in market sentiment on Friday, the steady rise in geopolitical tensions has created some chinks in the armor of global equity investors, with major indices under pressure to begin the new trading week. Given the sparse economic calendar today, all attention from market participants will be focused on the escalating situations in Ukraine and Gaza, and the perceived diplomatic progress that is being made in both regions.

 

The diplomatic progress to call a cease-fire on the Gaza Strip has so far fallen short of the mark, with fighting intensifying to the point of cumulating into the conflict’s worse day in terms of casualties, with the Palestinian death toll now surpassing 500. While the Israeli Defense Minister has suggested the ground offensive in Gaza is close to achieving its goals and therefore near completion, US Secretary of State John Kerry is on his way to Egypt in order to try and speed up the truce efforts.

 

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