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Today's news headlines:
‘Retail sales beat expectations in April as Britons flock to stores’. Consumer confidence has experienced a strong bounce over the last month as coronavirus restrictions in the UK continue to be eased. The UK consumer confidence index is now reading around the same level that was recorded in January of last year, before the pandemic began. Retail sales have reflected this upbeat mood which are now reportedly 10% above pre-pandemic levels as disposable income built up during the pandemic is spent. (Financial Times)
‘Vaccine passports set for use at mass events in England’. With the final phase of the road map only one month away talks are beginning to circulate around the idea of a domestic vaccine passport for use at large scale events. Initial plans are that the NHS app will be used to hold vaccine data and/or proof of a negative Covid test for individuals to be granted access to venues such as nightclubs and sport stadiums. It is expected this will be trialed prior to 21st June at Royal Ascot, which will take place a week before, where rigorous testing will be implemented. (Financial Times)
Today's events, rates, and data
Stocks rebounded yesterday after Wednesday’s cryptocurrency rout with the FTSE 100 rising 1.0% and the S&P 500 climbing 1.06%. Sterling has also bounced over the last day up 0.3% against the Dollar as inflation concerns ease.
UK Retail Sales m/m: 9.2% vs 5.1% last month
German flash Manufacturing and Services PMI: 8:30am
Eurozone flash Manufacturing and Services PMI: 9:00am
UK flash Manufacturing and Services PMI: 9:30am
ECB President Christine Lagarde Speaks: 12:00pm
Canada Retail and Core Retail Sales m/m: 1:30pm
US flash Manufacturing and Services PMI: 2:45pm
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