Russia and Ukraine clash over gas transit flows to Europe. US house passes Aid bill. ECB urges caution on fiscal policy.
May 11, 2022
GBP/USD 1.2343 GBP/EUR 1.1694 EUR/USD 1.0555 USD/CAD 1.2989 EUR/CHF 1.0467 EUR/SEK 10.5768 EUR/NOK 10.2193 EUR/DKK 7.4390 USD/ILS 3.4473 AUD/USD 0.6982 NZD/USD 0.6325 USD/SGD 1.3869 USD/JPY 130.08 USD/CNH 6.7456 USD/INR 77.2713 EUR/ILS 3.6386 GBP/ILS 4.2549 USD/ZAR 16.0778
The number of Britons living in destitution could reach 1 million over the next year without government support.
GBPUSD trades 0.2% higher, the FTSE100 starts the day positive, up 0.3%EUR
Russia and Ukraine have clashed over gas transit flows to Europe with shipments expected to fall 18% today.
ECB members have urged caution on Euro-zone members fiscal spending, stating that pandemic-era spending needs to come to an end.
EURUSD trades up 0.25%, and the STOXX starts the session up 0.44%USD
The US house passed a $40 billion bill aiming to fund Ukraine with weapons and economic aid, senate approval should follow next week.
Reports suggest April CPI is expected to steadily decline, as durable goods prices stabilise. This comes as several FOMC members confirmed their intention for consecutive 0.5% hikes.
DXY trades 0.25% lower, the NASDAQ closed yesterday up 0.98% after a mixed session for US equities.ASIA/PACIFIC
Consumer inflation in China accelerated further than expected in April to 2.1%, as covid outbreaks and lockdowns drive food costs higher.
Banks are beginning to see the JPY as a valued recession hedge, some estimates have the Yen 20-25% undervalued against the dollar.ILS
USDILS trades relatively flat on yesterday’s close at 3.45.Data & Events
US April CPI
Germany April CPI
Several ECB speakers
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