Shift in focus
Today's news headlines:
‘UK vaccine rollout scaled up amid supply concerns’. The UK’s coronavirus vaccination programme hit another milestone over the weekend, with 24 million people now having received their first dose. Although the pace has slowed this month in comparison to February, it is expected more supply will become available in the next three weeks. As the UK heads towards the first stage of re-opening the economy on the 12th April, it’s likely that the rising rate of vaccinations could cause some MP’s to encourage lockdown measures be eased sooner, a decision not without its risk. (Financial Times)
‘Irish assets leave London in €100bn post-Brexit switch’. In February, the European Union moved €8bn a day in share trading from London to Brussels after the UK’s departure from the bloc. The EU have moved to gain further control on Euro denominated assets to become a more independent financial centre. In a plan that will span over two years, it will see €100bn in assets—including Irish—moved from the settlements house based in London to the Brussels based entity controlled by the EU. (Financial Times)
Today's events, rates, and data
The S&P 500 finished last week strong, breaking to new all-time highs. This morning, the FTSE 100 is marginally positive while most major currency pairs are trading flat, with GBP/EUR being the noticeable exception up 0.20% in early trading.
China Industrial Production y/y: 35.1% vs 7.3% last month.
China Retail Sales y/y: 33.8% vs 4.6% last month.
China Unemployment Rate: 5.5% vs 5.2% last month.
German WPI m/m: 1.4% vs 2.1% last month.
Canada Housing Starts: 12:15pm
Canada Manufacturing Sales m/m: 12:30pm
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