Russia invades Ukraine!

This week has been dominated by the news coming out of Ukraine.

Key markets took an initial hit first thing yesterday morning but started to recover over the course of yesterday and this morning.

The Pound has taken a hit against the Dollar over the course of the last couple of days, something ?expected given the two countries’ different geographical distances between the conflict zone.

Against the Euro, the Pound has remained relatively stable despite the turmoil in Eastern Europe.

The Russian Ruble incidentally hit an all-time low yesterday.

Last night Western Government’s announced one after another, a raft of economic sanctions against the Russian Federation. It will take a bit of time to dissect the ins and outs of these and what they will mean. 

A key figure from yesterday was that oil hit the $100 a barrel mark. It came back down after it emerged the Russian energy industry wasn’t likely to be sanctioned, but this option remains on the table. We can therefore still expect some short term volatility in oil pricing.

In other news, figures this week from the OBIE (Open Banking Implementation Entity) show that over 4 million people in the UK are now using Open Banking Services.

Image Copyright: Yan Boechat/VOA, Public domain, via Wikimedia Commons

Want to recieve The Friday Update straight into your inbox?

Previous updates...

UK Interest Rate rise

UK Interest Rate rise

Another week of destruction in the Ukraine has tragically been the main news this week once again. Sanctions have continued to be extended, the Russian stock market remains closed and the one rouble is now worth just $0.009. The big economic news this week has been in both the US

West isolates Russia

West isolates Russia

The week has continued to be dominated by the horrific scenes of the invasion of Ukraine and the international fallout engulfing Russia. Sanctions have continued to be piled on the Russian state & high-profile individuals by governments from around the world. At the same time major companies are pulling out

Biggest set of sanctions ever seen

Biggest set of sanctions ever seen

This week, virtually all news has been dominated by the traumatic events in Ukraine.  Further rounds of sanctions against the Russian Federation, its businesses and multiple individuals have been announced this week. We have seen further consolidation and agreement on the part of Western Governments on actions to take. In

1 7 8 9 10 11