US pandemic easing, No10 reshuffle as PM revamps government operation.
February 9, 2022
GBP/USD 1.3563 GBP/EUR 1.1877 EUR/USD 1.1419 USD/CAD 1.2692 EUR/CHF 1.0552 EUR/SEK 10.4232 EUR/NOK 10.0514 EUR/DKK 7.4441 USD/ILS 3.2132 AUD/USD 0.7163 NZD/USD 0.6657 USD/SGD 1.3434 USD/JPY 115.41 USD/CNH 6.3676 USD/INR 74.82 EUR/ILS 3.6694 GBP/ILS 4.3583 USD/ZAR 15.3615
Boris’ No10 reshuffle orders Downing Street to action stations. The overhaul signals a political shift to the right. The new team has the difficult task of aiding the PM to regain the trust and support of the backbench MPs.
New EU biometric border systems threaten to grind UK ports to a halt. This comes shortly after a damning report on the government's handling of Brexit, accusing them of ‘overpromising’ and failing to hit its own deadlines.
GBPUSD trades up 0.15% and the FTSE100 closed yesterday down -0.08%.EUR
The ECB’s adoption of an increasingly hawkish stance may hinder Greek and Italian bonds, as Lagarde suggested an end to stimulus. The bond sell-off is likely to have its highest impact on the eurozone’s most indebted economies.
Data released by Eurostat shows most European countries are at least 40% dependent on Russian energy supplies, with the EU average of 60% dependent on Russian supplies.
Tuesday was quiet day for European equities with the STOXX 600 flat. The EURUSD trades level, and the EURGBP is down -0.1% intraday.USD
Fauci declares ‘Full blown’ pandemic is over, whilst the virus was not endemic it would be entrusted to public self-determination rather than government legislation.
The Biden administration is attempting to roll back Trump era tariffs, beginning with the US-Japan steel tariffs.
The DXY trades down -0.1% as we print. Yesterday the US equities rose slightly, both the NASDAQ and S&P500 pushed higher by 0.5%.ASIA/PACIFIC
The BOJ has chosen not to divert from its bond purchasing plan, despite yields rising. The central bank now risks yields rising near their upper limit.
China’s lending has jumped in January, powered by local government bond sales. Meanwhile, the WTO backed South Korea in an ongoing trade dispute with the US over washing machines.
A quick summary of Asian markets, the Hang Seng trades up 2.06%, the Nikkei trades up 1.1% and the Shanghai composite trades up 0.95%.ILS
USDILS consolidated above 3.2 for the last 24 hours, which hasn’t been seen since October last year. As we print USDILS trades up 0.1%.
Israel offers economic aid to Palestinians to curb Hamas. The deal includes loans, infrastructure upgrades and high-level talks.Data & Events
EU – Foreign and Health ministers meet in France
UK – BOE’s Pill speaks
IT – Industrial Production
DE – Trade balance
RU – CPI
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