Investors appear edgy as they monitor the war in Ukraine which has entered its 15th day and brace for fresh US Inflation figures, as well as the European Central Bank's monetary policy decision.
Ukrainian Foreign Minister Kuleba is expected to meet with his Russian counterpart Lavrov today, creating hopes for a diplomatic solution to the military conflict.
The US Pentagon rejected the transfer of Polish fighter jets to Ukraine, with spokesman John Kirby, saying that "this is not likely to significantly change the effectiveness of the Ukrainian Air Force" and that such a move "may be mistaken as escalatory". 
UAE's ambassador to Washington, Yousef Al Otaiba, put out a statement yesterday saying "We favor production increases and will be encouraging OPEC to consider higher production levels" , which seems to have contributed to Wednesday's slump in oil prices.
Amazon announced a 20-1 stock-split, with trading on the new price to begin on June 6. The change is subject to approval at the Annual Meeting of Shareholders, which is scheduled for May 25. 
Main Asia-Pacific stock markets were upbeat, whereas European futures are tepid. In the FX space, the JPY Basket is soft and the US Dollar trades mixed.
EUR/USD is soft after its two-day rebound, trying to defend 1.1050.
GBP/USD shows indecision above 1.3180.
USD/JPY rises for fourth straight day, probing 116.00.
USD/CAD finds support above 1.2800, following yesterday's slide.
AUD/USD is upbeat below 0.7350.
NZD/USD is mixed, as it covers earlier losses, but can't surpass 0.6850
GER30 moves to the defensive following the two-day relief rally.
US30 trades with caution, breaching 33,200 on the downside.
USOIL consolidates above 110.00, after Wednesday's plunge.
XAU/USD stays on the back foot, trying to hold 1,980.
Economic Calendar Picks (GMT)
The European Central Bank (ECB) hands down its hands down its monetary policy decision at 12:45, with no policy changes expected, since it has already announced roadmap to reduce asset purchases after the end of March. Focus will be as always, on Ms Largarde's press conference (13:30). Among other things, we will be looking for any commentary on rates, impact from the war in Ukraine and any thoughts on the exchange rate.
Market participants also await fresh Inflation update from the US, as February's Consumer Price Index is due at 13:30.
On the earnings front, hot electric vehicle (EV) maker Rivian, releases its results after US markets close.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 10 Mar 2022 https://www.uae-embassy.org/news/statement-ambassador-yousef-al-otaiba