All the latest financial and economic news, including the rouble crisis, UK unemployment, and tonight’s Greek presidential electionThe agenda: Russia, UK jobs data, Greek vote... 7.55am GMT The rouble is volatile this morning, after yesterday’s tumultuous swings.Russia’s currency fell by around 5% when trading began at 7am GMT, hitting 72.5 roubles to the US dollar.And so the #rouble rollercoaster continues -down 3.5% at opening -I'm beginning to feel a little sick on this ride! Never liked theme parks! 7.37am GMT Russia is the main story on the financial TV this morning too:'We don't need a war when we can have a currency war'- guest @sjderrick, Chief Currency Strategist, BNY Mellon #Russia #Rouble @CNBCHFE on #Ruble collapse: Currency collapse does not happen in isolation, but is always accompanied by financial and economic collapse #Russia 7.32am GMT European stock markets are expected to drop this morning, as the Russian crisis and tonight’s Greek presidential vote worry traders.Jasper Lawler, analyst at CMC Markets, explains: Having avoided contagion from oil and emerging markets in the previous session, things now appear to be catching up to European markets that look weak heading towards the open on Wednesday before data that could confirm the Eurozone fell into deflation during November. Multiple major money-centre banks appear to no longer be pricing USD/RUB because of the crashing ruble, cutting Russian companies and individuals off from global financing. As a major trading partner, Russia’s funding problems are expected to start hitting home in Europe. 7.25am GMT Good morning, and welcome to our rolling coverage of the financial market, the world economy, the eurozone and business.There’s no let-up from the news today. We’ll be tracking: Continue reading...
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