The euro is still recovering due to an improved market mood. Russian and Ukrainian negotiators will meet in Turkey today for peace talks and the markets could respond to news from this. Sterling is weaker against the euro this morning but has regained some ground against the dollar.
Oil prices have surged since the beginning of the Ukraine crisis, however, prices have plunged in recent hours. This follows a pledge from the United Arab Emirates, who said it will support the production of oil.
The International Monetary Fund has approved $1.4bn in emergency funds for Ukraine and has predicted a “deep recession” in Ukraine this year.
Today, all eyes will be on the European Central Bank’s monetary policy meeting and US inflation figures.
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