UK PM plans staff changes in a bid to save his premiership. France passes new vaccine passport legislation for bars and restaurants
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FX Rates
January 17, 2022Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.
Source: BloombergGBP/USD 1.3678 GBP/EUR 1.1967 EUR/USD 1.1429 USD/CAD 1.2515 EUR/CHF 1.0429 EUR/SEK 10.3063 EUR/NOK 9.9900 EUR/DKK 7.4415 USD/ILS 3.1077 AUD/USD 0.7217 NZD/USD 0.6814 USD/SGD 1.3477 USD/JPY 114.41 USD/CNH 6.3501 USD/INR 74.2825 EUR/ILS 3.5527 GBP/ILS 4.2524 USD/ZAR 15.4128
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GBPIn a last bid to save his title, the PM is looking to tackle the “underlying culture” at Downing Street, reportedly having a clear out of staff and a series of populist policy announcements to try and win back the public. Boris Johnson faces yet another difficult week, with his future as PM at stake as the public backlash over the rule-breaking parties at Downing Street threatens his title. 6 members of his own party have already called for him to resign as well as many opposition members. Local MEP's have expressed their concerns as they receive hundreds of emails from local activists and voters angered by the alleged events.
The asking prices for UK homes rose at the fastest YoY rate in almost six years as the number of available properties dropped to a record low. Rightmove Plc said the price that sellers sought in January was 7.6% higher than a year earlier. It seems the UK housing market continues to boom despite the end of a temporary tax break last year and an interest-rate increase in December.
The FTSE dipped 0.28% on Friday's session.EUREURUSD retreated over Friday's session falling from highs of 1.1483 to lows of 1.1399 before recovering slightly to trade in the 1.1433 region as we print.
The French parliament has given final approval to the government’s latest measures to tackle Covid-19, including a vaccine pass contested by anti-vaccine protesters. Lawmakers voted 215 in favor to 58 against on Sunday, paving the way for the law to enter force in the coming days. This new law will require people to have a certificate of vaccination to enter public places such as restaurants, cafes, cinemas and long-distance trains.
Italy, Spain and other European countries are reinstating or stiffening mask mandates as their hospitals struggle with mounting numbers of COVID-19 patients. In Italy, more than 2 million of the 60 million population, are currently positive, leading to workplace absences curtailing train and bus runs - the government sees masks as a way to let society function better.
The Euro Stoxx, CAC and DAX all declined over Friday's trading falling 1.01%, 0.81% and 0.93% respectively.USDUS stocks were mixed on Friday with the Dow Jones dipping 0.56% whilst the S&P 500 and NASDAQ gained 0.08% and 0.59% respectively.
The US market is closed today for Martin Luther King Jr. Day.ASIA/PACIFICAsian stocks were mixed this morning, with the Hang Seng dipping 0.73% whilst the Nikkei and CSI gained 0.74% and 0.86% respectively, as traders weighed a global advance in sovereign bond yields as well as policy easing by China’s central bank.
The People’s Bank of China shifted their policy stance into growth mode, cutting the rate on its one-year policy loans by 10 basis points to 2.85%. It also cut the rate on the seven-day reverse repurchase rate and net injected 200 billion yuan ($31.5 billion) of medium-term cash into the financial system.
The Japanese central bank holds their first central bank meeting of the year tomorrow - whilst markets expect them to stand hold on policy, investors will be playing close attention to the central banks stance on inflation.ILSUSDILS was mixed over Friday's session reaching lows of 3.0970 and highs of 3.1174 before retreating to settle in the 3.1095 region as we print.
The adoption of cryptocurrencies across the world has lead many central banks to explore and develop their own - Israel’s central bank is currently in the research phase of launching an Ethereum (ETH) based e-shekel. News out this weekend states that the BOI is sampling the opinion of stakeholders as it looks to progress with the e-shekel, however there is still no given launch date.Data & EventsItaly - Dec. PPI
US - closed for a holiday
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