Markets are edgy as the war in Ukraine enters its sixteenth day and yesterday's meeting between the Foreign Ministers of Ukraine and Russia did not produce anything concrete.
Data just released showed that UK GDP grew 0.8% month-over-month in January, while Manufacturing and Industrial Production also rose.
Yesterday, US Headline CPI Inflation surged 7.9% year-over-year in February, while the Core reading jumped 6.4% year-over-year – both the highest since 1982.
US Treasury Secretary Ms Yellen warned that "We're likely to see another year in which 12-month inflation numbers remain very uncomfortably high", speaking on CNBC.
The European Central Bank (ECB) made a hawkish move yesterday, announcing a faster tapering and conclusion of its asset purchases program. 
EV maker Rivian missed Q4 estimates and the stock shed more than 12% after-hours. It reported Revenue of $54 million Loss of $2.43/share. Rivian expects to produce 25,000 vehicles in 2022 (including the commercial EDV), noting that it could make enough vehicles to deliver over 50,000, if it wasn't constrained by supply chain issues. 
Main Asia-Pacific stock markets were mostly down, whereas European futures appear to be in better mood. In the FX space, the JPY Basket retreats and the US Dollar is supported.
EUR/USD finds support around 1.1000, following yesterday's drop.
GBP/USD lacks firm direction below 1.3100, setting fresh lows, not seen since November 2020.
USD/JPY gains around 0.5% and posts five year highs above 116.50.
USD/CAD is a bit mixed below 1.2800, erasing much of its earlier gains.
AUD/USD trades with caution around 0.7350.
NZD/USD is on the back foot around 0.6850.
GER30 is flat above 13,400, covering earlier losses.
US30 trades with positive undertone above 33,200
USOIL moves to profits after its two-day plunge, retaking 107.60.
XAU/USD is on the back foot, breaching 1.985.
Economic Calendar Picks (GMT)
In a data-light dockets, markets will turn to Canada's February Employment figures (13:30). The previous report had shown the loss 200.1K jobs on January, while Unemployment had risen to 6.5%.
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 11 Mar 2022 https://www.youtube.com/watch
Retrieved 11 Mar 2022 https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.mp220310~2d19f8ba60.en.html