G7 leaders have agreed to study potential price caps on Russian oil. The annual European Central Bank Forum on Central Banking begins in Portugal.
June 28, 2022
GBP/USD 1.2262 GBP/EUR 1.1581 EUR/USD 1.0588 USD/CAD 1.2846 EUR/CHF 1.01227 EUR/SEK 10.6463 EUR/NOK 10.3373 EUR/DKK 7.4405 USD/ILS 3.423 AUD/USD 0.6939 NZD/USD 0.6286 USD/SGD 1.3863 USD/JPY 135.76 USD/CNH 6.6857 USD/INR 78.7625 EUR/ILS 3.6243 GBP/ILS 4.1953 USD/ZAR 15.8373
GBPStaff at the Bank of England are to demand a major pay rise in the face of surging inflation, despite pleas for restraint on wages from their own Governor.
Boris Johnson signaled that he has no intention of stepping aside as PM anytime soon stating that there is still a huge amount to do.
The UK government launched a charm offensive with businesses from Northern Ireland and the rest of the UK yesterday, in an attempt to win them over to its controversial plan to override part of the Brexit deal. Johnson's bill survived the challenge and will now progress to the committee stage.
Cable gained over Friday's session and into this morning reaching highs of 1.2320 as we print.EUREuropean equities rallied as global growth concerns ease - the Eurostoxxx, CAC and DAX have gained 0.74%, 0.97% and 0.7% respectively since Tuesday's open.
Germany and the UAE will hold continued talks this week on hydrogen and clean energy as the EU seeks long term solutions to cut itself off from Russian gas.
EURUSD gained some traction over yesterday's session reaching highs of 1.0615 before retreating to sit in the 1.0584 region as we print. EURGBP also gained with the pair rallying 0.52% since Monday's open.
The annual European Central Bank Forum on Central Banking begins in Portugal with Lagarde, Lane, Elderson and Panetta speaking today.USDG7 leaders have agreed to study potential price caps on Russian oil and gas in a bid to limit Moscow's ability to fund its invasion of Ukraine, G7 officials said on Tuesday.
In the US, durable goods orders will show whether inflation, rising interest rates and economic uncertainty weighed on demand in May.
The dollar has retreated over the past few days as global growth concerns ease - the Bloomberg dollar index has dropped 0.58% over the last 2 days.
The White House has said it is looking for ways to preserve abortion access for women following the ruling, which overturned the federal right to an abortion and left the decision up to states. At least 22 states now have laws that significantly restrict or fully outlaw abortion, whilst others are likely to move quickly in that direction following the court ruling.ASIA/PACIFICAsian stocks rallied on Tuesday, after China softened its strict Covid protocols, easing investor concerns about global growth. China cut in half the time new arrivals must spend in isolation. The Nikkei, Hang Seng and CSI rallied a further 0.66%, 0.71% and 1.04% this morning, following yesterday's rally.ILSThe shekel lost some ground over yesterday's session falling 0.44% since Monday's open.Data & EventsItaly - Industrial sales
Eurozone - Lagarde, Lane, Elderson and Panetta speak
Ireland - retail sales
US - conference board consumer confidence
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