Daily Note: Commodity prices soar on Russian invasion

  • The full-scale Russian invasion of Ukraine has prompted some big moves in financial markets overnight 
  • Global commodity prices have soared on the expected supply disruptions to particularly oil and gas markets, but also some of the soft commodities Russia exports
  • FX markets have behaved in the expected fashion with the relative safe-haven of the JPY, CHF, and USD in demand and the NZD slumping to the bottom of the overnight performance rankings

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