Ukraine electric power grid attacked and compromised by Russians, millions left without electricity

Recently Ukraine experienced a number of drone attacks from Russia that left parts of Ukraine out of power affecting millions . Recently we saw just how the war in Ukraine can have supply chains across the world and ultimately lead to clear impacts in the market. Now that we are receiving news of more impactful damage to Ukraine how should we expect the market to react？

If you are looking to trade the Euro or the dollar in light of this newsyou are going to need a broker with small spreads so as to give you the best entry possible. If you want to compare broker speads and other broker metrics I suggest you download WikiFx. This app shows you a live feed of the spreads brokers are currently offering on major instrumens. This can aid you to find a broker with the best spreads and trading environment that suits you without having to go through money loss and trail and error. Trust WikiFx today and start improving your experience with brokers.

Why is Ukraine important to all of us？

Ukraine is a major world participant in food items as 41% of Ukraine's economy is dependent of the exports of grain, and agricultural products. We saw how there was a sudden rise in the cost of living as food got expensive as exports of grain was suddenly halted. The markets also responded in kind as we saw massive volatility take place over the course of the year, all sparked by the war in Ukraine.

These power outages that Ukraine is experiencing is also bound to have an effect on Ukraine's economy. As electricity becomes unavailable businesses are forced to close down as a number of services are disrupted and they can not produce products. The economy of Ukraine is surely experiencing some kind of delay in their export supply chains as there are a number of processes e.g packing and refrigeration.

It is fortunate that Norway has decided to aid the country by donating 100millon Euros to aid the country to repair it's stations, however these attacks by Russians are not going to stop and they are going to continue to target other power facilities to further cripple the country.

We as traders must be prepared for the next few months we may experience and resurgence in uncertain global conditions. This may also inspre volatility in the market and so traders are advised to follow proper risk management. If further development in the war further damages Ukraine's critical structure and economy, we will soon see other supply chain issues as experienced last year.