On the front foot

Today's news headlines: 

‘UK records zero Covid deaths for first time in over a year’. The UK reported zero deaths from coronavirus yesterday, another piece of positive news as the country heads toward a full easing of restrictions. This may be the first sign that the vaccinations are working. Even though there has been a slight uptick in cases, the two key metrics of deaths and hospitalisations remain low. Despite this, the government are still cautious and are refraining from making a decision on the full removal of all restrictions until at least June 14th. (Financial Times)

‘UK ministers plan limited expansion of “green list” nations’. UK Transport Secretary Grant Shapps is expected to add another handful of European nations to the green list this week, as coronavirus conditions improve on the continent. Poland, Finland and Malta are among the countries being discussed due to the low daily case numbers and comparatively higher vaccination rates to others. According to Shapps, Brits will not have long to wait before other countries such as Spain and France are added to the green list. (Financial Times)

Today's events, rates, and data 

  • Positive UK manufacturing data gave markets a boost yesterday, with the FTSE 100 finishing 0.82% higher and the FTSE 250 gaining 0.84%. Sterling has retraced some of the gains made last week, dropping to $1.4150 against the Dollar and back below €1.16 against the Euro.

Today's events

Australia GDP q/q: 1.8% vs 3.2% previously
German Retail Sales m/m: -5.5% vs 7.7% last month
RBA Deputy Governor Guy Debelle Speaks: 10:00am
German Bundesbank President Jens Weidmann Speaks: 4:45pm
FOMC Member Raphael Bostic Speaks: 7:00pm
FOMC Member Charles Evans Speaks: 7:00pm

Interbank rates

GBP/USD: 1.4153
GBP/EUR: 1.1587
EUR/USD: 1.2216
USD/CAD: 1.2070

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