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The next challenge

Today's news headlines: 

‘Ministers announce Covid testing plan to reopen travel from England’. As the push continues for foreign travel to resume, the UK government look set to announce a traffic light system to re-open the travel sector. It’s thought that countries on both green and amber lists will require travellers to take a PCR test on return to the UK, which could cost flyers almost £100. Travel is not allowed to those countries on the red list, but if individuals pass through them, they will be required to undertake a two-week quarantine in a government approved hotel. The travel industry has said that introducing the need for PCR tests is creating more friction, with some suggesting people should be able to travel test-free to green list countries. (Financial Times)

‘UK sports bodies back Covid certificates to allow full stadiums’. Major sporting bodies such as the English Premier League and the Rugby Football Union have voiced their support for Boris Johnson’s suggestions of covid passports. The hope is that fans will be able to return to the grounds without the need for social distancing on the condition that they have had the vaccine or have had an antibody test to prove they are resistant to the virus. The hope is that events with full capacity can go ahead in June, when all restrictions are planned to have been removed. (Financial Times)

Today's events, rates, and data 

  • The US was subdued yesterday as the S&P 500 fell 0.23%, however, the FTSE 100 continued its momentum gaining another 0.83%. Sterling has sustained its sell-off with Cable, falling below $1.37 while also trading lower against the Euro around the €1.15 level. Treasury yields have taken a backseat this week with the US 10-year holding around 1.63%.

Today's events

China CPI y/y: 0.4% vs -0.2% last month
China PPI y/y: 4.4% vs 1.7% last month
German Industrial Production m/m: -1.6% vs -2.0% last month
UK Bank of England Quarterly Bulletin: 12:00pm
Canada Employment Change: 1:30pm
Canada Unemployment Rate: 1:30pm
US PPI and Core PPI m/m: 1:30pm
IMF Meetings: All day

Interbank rates

GBP/USD: 1.3688
GBP/EUR: 1.1514
EUR/USD: 1.1887
USD/CAD: 1.2604

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