Chinese President Xi says in meeting with Russian Foreign Minister Lavrov that China is to enhance communications with Russia and the stability of ties with Russia is valuable

Xi's remarks about enhancing communications with Russia signal a solidifying of ties between the two nations, which could imply sustained geopolitical alignment amidst increasing tensions with the West. This development may affect market sentiment regarding risk assets and commodities, with potential implications for currencies like the USD, EUR, and JPY as investors recalibrate expectations around global trade dynamics and energy security.