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High-level talks begin

Today's news headlines:

‘House passes $1.5 trillion spending measure with Ukraine aid’. On Wednesday night in the US, the House passed a spending bill worth $1.5 trillion to see the country through the remainder of the fiscal year, which ends in September 2022. The bill sees emergency Coronavirus funding dropped while $13.6 billion is set aside to respond to the Russian invasion of Ukraine. (Bloomberg)

‘Ukraine renews evacuation efforts as foreign ministers prepare for talks’. Ukraine will continue attempts to evacuate civilians trapped in towns and cities by Russian forces today. Meanwhile, senior ministers from both sides will meet in the first high-level talks since the invasion started two weeks ago. Previous mid-level talks have failed to find a breakthrough, but Kyiv has recently signalled it may compromise on Russian demands for future neutrality on the condition of security guarantees from world powers. (Financial Times)


Global equities continued their rebound on Thursday, as markets reprice the economic impact of the Ukraine conflict. The US Dollar continued its retreat after reaching its strongest level since May 2020 on a trade-weighted basis. Brent crude remained steady around $115 a barrel after yesterday’s dip.


Norwegian Consumer Price Index YoY (Feb): 3.7% (prev. 3.2%)
Danish CPI YoY (Feb): 4.8% (prev. 4.3%)
European Central Bank policy announcement: 12:45PM
US CPI YoY (Feb): 1:30PM
US Initial Jobless Claims (Mar 5th): 1:30PM

Interbank rates:

GBP/USD – 1.3154
GBP/EUR – 1.1911
EUR/USD – 1.1043
USD/CAD – 1.2822

The markets are moving. To speak to our team, please call +44 (0)20 3465 8200.