Ball of confusion as Biden and Putin fight war of words

Friday 18th February 2022View our disclaimer and terms of use: nab.co/3shJyypView our NAB Financial Services Guide: nab.co/3rvJtI9There are mixed signals in the markets today. Equities have taken a hit from continued uncertainty over Ukraine, but oil prices are down, perhaps because negotiators are close to agreeing a deal over Iranian oil. NAB’s David de Garis says many traders will also be assessing their positions ahead of a long weekend in the US. Yesterday’s FOMC meeting seems to have shortened the odds for a half percent rate hike from the Fed, although there’s been a lot of strong US data since that meeting. Words from the ECB’s Philip Lane have reinforced the idea that the bank is rethinking its position on holding off on rate rises. Today’s main stats are the retail numbers for the UK, which are unlikely to bounce back as quickly as we saw in the US yesterday.

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