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ECB official points to July monetary tightening

Today's news headlines:

‘ECB’s Guindos sees QE ending in July, paving way for rate hike’. European Central Bank Vice President, Luis de Guindos, believes policymakers will be able to stop asset purchases and possibly hike interest rates in July. He explained the decision will hinge on the central bank’s next economic forecasts released in June while discounting the risk of recession and stagflation in the Eurozone. (Bloomberg)

‘Macron says Le Pen risks ‘civil war’ as he brushes off attacks’. In a televised debate, French President Emmanuel Macron warned the nation that his opponent, Marine Le Pen, risks a ‘civil war’ with her policies which include a ban on Muslim headscarves. Le Pen fought back to portray the incumbent President as elitist, arguing his economic policies were a disappointment and calling herself the ‘spokeswoman of the French people’. (Bloomberg)


European and US equity futures were green on Thursday morning, while Asian stocks were mixed overnight. Sovereign yields edged higher, and Brent crude was steady at around $108 a barrel. The Euro gained for its third consecutive day on a trade-weighted basis, and the US Dollar dipped for a second day running.


Eurozone Consumer Price Index YoY (Mar): 10:00AM
US Initial Jobless Claims (Apr 16th): 1:30PM
BoE Monetary Policy Committee member Catherine Mann speaks: 2:00PM
BoE Governor Andrew Bailey speaks: 5:30PM

Interbank rates:

GBP/USD – 1.3070
GBP/EUR – 1.1992
EUR/USD – 1.0898
USD/CAD – 1.2488

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