Putin: Russia-China Trade Now Settled in Local Currencies

Russian President Vladimir Putin announced that all trade settlements between Russia and China are now conducted in local currencies, a move aimed at reducing reliance on the US dollar. This shift could influence capital flows and currency exchange rates, particularly impacting the Russian ruble and the Chinese yuan as they gain prominence in bilateral trade. The commodities market may also feel the effects, as increased trade in local currencies could lead to changes in pricing dynamics for energy exports from Russia to China. Traders will be particularly attentive to upcoming trade data releases that could provide insights into the volume and value of these transactions in local currencies.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

Active traders typically follow a three-step workflow when a market-moving headline hits the wire: (1) read the headline on the terminal or hear it on the squawk box; (2) assess whether the news is already priced in (by checking intraday price action in the seconds before) or whether it's genuinely new information; (3) act — either entering a breakout position, fading an overreaction, or tightening stops on existing trades. Trading News Terminal's Pro plan delivers wire-grade headlines within seconds of the source, with automatic audio squawk on every HIGH-impact event, so the read-assess-act cycle never waits on a refresh button.