Today's news headlines:
‘Pubs gear up for a bumper weekend as UK lifts Covid restrictions’. UK pub operators are optimistic ahead of the final weekend of January as Coronavirus restrictions are lifted today, and the first pay packets of the New Year will be paid. Spending traditionally rises towards the end of January after many try to cut costs following higher expenditure during the Christmas period. Some pubs have already raised their prices amid soaring inflation and rising energy costs placing pressure on these low margin businesses. (Financial Times)
‘US and EU close in on agreeing Russian financial sanctions over Ukraine’. Talks over possible countermeasures to a potential Russian led invasion of Ukraine have been ongoing. Tolerance for Russia from US and EU officials is waning, with many estimating an agreement will come soon. Financial sanctions on Russian financial institutions, such as Gazprombank, and export-control measures have been discussed. (Financial Times)
Asia-Pacific markets lacked direction overnight after yet another weak close in the US; the S&P 500 has fallen 9% year to date. Treasury yields remain little changed this morning while the US Dollar Index is trading at the $96 handle ahead of the Federal Reserve update later today.
Switzerland Credit Suisse Economic Expectations: 9:00AM
Bank of Canada Monetary Policy Report: 3:00PM
US Crude Oil Inventories: 3:30PM
US Federal Open Market Committee Statement: 7:00PM
New Zealand Consumer Price Index q/q (Q4. 21): 9:45PM
GBP/USD – 1.3504
GBP/EUR – 1.1960
EUR/USD – 1.1290
USD/CAD – 1.2592
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