Domestic focus

Today's news headlines: 

‘GSK to help manufacture 60m doses of Novavax Covid vaccine in UK’. As the UK begins to experience somewhat of a tightening of vaccine supply amid export rows with the EU, the government have shifted their focus towards more domestic production. Although the vaccine is yet to be approved by UK regulators it is expected to be given the go ahead and production looks set to start in early May. Some 60 million doses will help to bolster the UK’s vaccination effort while also providing security for the future if booster shots are required. (Financial Times)

‘UK to press more businesses to sign up to net zero carbon pledge’. Small and medium sized businesses will now be the focus for the UK government, as the country transitions to net zero carbon by 2050. Around 30 companies in the FTSE 100 have pledged to work towards this target, the government now hopes this can be extended to the majority of companies in the UK. However, a number of green initiatives have been scaled back by the government which has caused some to question whether there is a strong enough commitment to the lofty 2050 target. (Financial Times)

Today's events, rates, and data 

  • Markets were mixed yesterday, the S&P 500 was relatively flat gaining 0.09% while the Dow Jones gained 0.30%. Sterling has edged out some more gains against the Euro with the pair now trading above €1.17. There’s a light day of data ahead with FOMC members speaking later today.

Today's events

Japan Unemployment Rate: 2.9% vs 2.9% last month
German Import Prices m/m: 1.7% vs 1.9% last month
Spanish Flash CPI y/y: 1.3% vs 0.0% last month
FOMC Member Randal Quarles Speaks: 2:00pm
US CB Consumer Confidence: 3:00pm
FOMC Member John Williams Speaks: 7:30pm

Interbank rates

GBP/USD: 1.3762
GBP/EUR: 1.1709
EUR/USD: 1.1754
USD/CAD: 1.2597

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