Biden gets the green light
Today's news headlines:
‘Tourist destinations added to England travel “green list”’. Malta, the Balearic Islands, and Madeira are some of the places most recently added to the UK’s travel green list as Boris Johnson looks to unlock travel later this summer. Those travelling to green list countries will not have to quarantine, but countries on the list could be removed without significant advance warning if Covid infection levels begin to rise. There is also talk of removing quarantine needs for countries on the amber list in the next few months for those who have received two doses of the coronavirus vaccine. (Financial Times)
‘Biden agrees slimmed-down $1tn infrastructure deal with Senators’. While it's not quite the $2.3tn spending plan that was announced in March, this is still a big step forward for the Biden administration. The new $1tn package will help to upgrade America’s roads, bridges and other vital infrastructure over the next eight years. This is yet another large scale stimulus deal that Biden has pushed through Congress, despite the Democrats' slim majority and tensions between the two parties on the technicalities of the package. (Financial Times)
Today's events, rates, and data
The S&P 500 closed 0.58% higher while the Nasdaq also gained 0.69%, both reaching all-time highs yet again. A Dovish Bank of England helped the FTSE 100 climb 0.51% but caused Sterling to fall 0.42% against the Dollar reaching $1.3905.
UK Gfk Consumer Confidence: -9 vs -9 last month
German Gfk Consumer Climate: -0.3 vs -6.9 last month
UK CBI Realised Sales: 11:00AM
US Core PCE Price Index m/m: 1:30PM
US Revised UoM Consumer Sentiment: 3:00PM
GBP/USD – 1.3929
GBP/EUR – 1.1660
EUR/USD – 1.1945
USD/CAD – 1.2304
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