European gas firms prepared to pay in RUB; USDILS climbs to yearly highs; ECB committed to deliver on banks 2% target.
April 28, 2022
GBP/USD 1.2549 GBP/EUR 1.1906 EUR/USD 1.0540 USD/CAD 1.2816 EUR/CHF 1.0223 EUR/SEK 10.2683 EUR/NOK 9.7972 EUR/DKK 7.4418 USD/ILS 3.3152 AUD/USD 0.7144 NZD/USD 0.6530 USD/SGD 1.3854 USD/JPY 130.64 USD/CNH 6.6417 USD/INR 76.5425 EUR/ILS 3.4940 GBP/ILS 4.1598 USD/ZAR 15.8639
Sterling trades higher by 0.15% against the dollar, following a week which has seen GBPUSD slump to 2-year lows.
The UK should focus on closer cooperation with the U.S. to bolster its post-Brexit finance industry, research has shown that should closer ties with the US be made, Britain’s capital markets business could grow by 40%.EUR
European energy firms including Uniper and OMV are ready to open Ruble accounts to comply with Russia’s demands, at least until the EU mandate. The US okayed more requests to export gas to Europe, but flows are yet to start.
ECB Chief Lagarde, has said the ECB has an unwavering commitment to deliver on the banks 2% inflation target, “over the medium term”.
EURUSD remains below levels not seen since 2017.USD
The Biden administration will send to congress as soon as today, a proposal to supply Ukraine with humanitarian aid and weapons through to September.
USD GDP 1Q is seen slowing to 1% due to a ballooning trade deficit, slower inventory growth and the winter omicron wave. 2Q GDP is expected to bounce back to 3.5% growth.
DXY has hit new highs since 2003 as of this morning, at 103.2.ASIA/PACIFIC
Asian equities advanced, with the Hang Seng pacing gains on Beijing’s vow to support jobs.
The Dollar climbed to a fresh 20-year high against the Yen. The BOJ has remained an outlier amongst central banks, leaving its monetary stimulus unchanged, and continued with bond-buying.ILS
USDILS has climbed 1.35% over the week, back above 3.3 to yearly highs.Data & Events
ECB economic bulletin
Germany April CPI
US weekly jobless claims
US 1Q GDP
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