Dollar nears two-year high due to global growth concerns. UK Imports to EU down 25%; PBOC offers stimulus to aid with covid impacts.
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April 26, 2022
GBP/USD 1.2719 GBP/EUR 1.1896 EUR/USD 1.0693 USD/CAD 1.2736 EUR/CHF 1.0259 EUR/SEK 10.4331 EUR/NOK 9.8349 EUR/DKK 7.4397 USD/ILS 3.2944 AUD/USD 0.7183 NZD/USD 0.6624 USD/SGD 1.3738 USD/JPY 127.77 USD/CNH 6.5806 USD/INR 76.6613 EUR/ILS 3.5224 GBP/ILS 4.1898 USD/ZAR 15.8084
Brexit caused UK imports from the EU to drop by 25%, with smaller businesses giving up on exporting to the bloc altogether. Despite this, London attracted more foreign investment in finance than any other city in 2021.
Boris Johnson will urge ministers to implement new strategies to deal with soaring living costs.
The FTSE100 closed yesterday down by -1.88%, GBPUSD is down -2.26% on last week.EUR
A consensus is growing for ECB hikes this year. A growing number of market participants see more rate hikes in 2022, with the end of asset purchases arriving as early as June.
EURUSD continues to trade near yearly lows, with downside pressures continue to mount.USD
The dollar rose near two-year highs during yesterday’s session, following global growth concerns driven by the war in Ukraine, and soaring covid cases in mainland china.
Russia’s foreign minister has claimed that they are ‘in essence’ at war with NATO, following sanctions and arms supplies to Ukraine.
Around 40% of US small businesses intend to raise selling prices by 10% or more to absorb higher costs. March durable goods probably rose 1%, rebounding from February’s decline.ASIA/PACIFIC
Chinese equities grew following a PBOC pledge for more fiscal support for economic sectors hit hardest by the pandemic.
Virus testing in Beijing is growing, however city-wide lockdowns have not been imposed just yet. China remains stringent in its anti-covid policies with those that test positive being forced to isolate at a designated facility.ILSUSDILS has rebounded since last week. The pair trades above 3.28, trading 2.9% higher on the month.Data & Events
UK Public Finances
US Durable Goods
ECB Several Speakers
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