Worries over a Russian invasion
of Ukraine heightened on Friday and there was not a lot over the
weekend to dial back those concerns. The threat to oil supply saw oil
prices rise during the session here. The rise was exacerbated by comments out of Iran over the weekend that Western powers are not being genuine in their proposals.
The ‘risk’ trade in forex
was a little softer: AUD, EUR, GBP, NZD all down against a stronger
USD. USD/JPY and USD/CHF are a touch stronger also. Regional equities
here were lower.
News
and data flow was light. Of note, New Zealand food prices
+
2.7% in January for their largest increase in five years.
The
LA Rams beat the Cincinnati Bengals in the SuperBowl.
NZD/USD slide a few points: