Equities climb following Russian pledge to scale back military operations in Kyiv; Spanish inflation exceeds expectations.
March 30, 2022
GBP/USD 1.3126 GBP/EUR 1.1795 EUR/USD 1.1129 USD/CAD 1.2478 EUR/CHF 1.0329 EUR/SEK 10.3419 EUR/NOK 9.6139 EUR/DKK 7.4384 USD/ILS 3.1878 AUD/USD 0.7513 NZD/USD 0.6960 USD/SGD 1.3541 USD/JPY 121.82 USD/CNH 6.3628 USD/INR 75.8813 EUR/ILS 3.5475 GBP/ILS 4.1843 USD/ZAR 14.4763
The UK is debating delaying planned checks on import from the EU for a fourth time, as it seeks to avoid adding fresh costs into supply chains. Prices in U.K. shops accelerated to 2.1% in March — the fastest annual pace since September 2011, the BRC said.
The UK will also set-out plans to plug loopholes in employment law, following P&O ferries sacking of 800 employees.
GBPUSD trades higher by 0.21% as we print.EUR
European defence stocks have rallied strongly in 2022, following geopolitical tension, and an increase in committed defence spending across Europe.
Spanish March inflation hit 9.8% beating estimates at 9.1%. The Spanish data offered an insight into the continent's inflation outlook, investors will be paying close attention to Germany’s CPI release later today. With inflation expected to exceed estimates across the bloc, the ECB might be in a precarious situation as to its monetary policy.
EURUSD trades higher by 0.4% intraday.USD
The Pentagon has urged scepticism on Russian’s pledge to scale back military operations, with the Pentagon warning that Kyiv remains under threat.
The ADP is forecast to show U.S. employers added 450,000 jobs in March, just below February’s pace. Strong employment data from ADP and non-farm payrolls could embolden the Fed’s aggressive approach to monetary policy.
The DXY fell 0.4% following positive tones emerging from Russo-Ukrainian negotiations.ASIA/PACIFIC
Japanese bonds climbed with the Yen, after the BOJ surprised investors pledging to buy more securities than planned and include longer-dated debt.
Australia is close to finalising a free-trade agreement with India.ILSUSDILS trades lower at 3.18 down by -0.3%, falling below 3.2 for the first time in over a month.Data & Events
US – ADP
US – Q4 GDP
DE – Inflation CPI
Several Central bank speakers.
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