Today's news headlines: 

‘US puts 8,500 troops on alert as Nato leaders meet over Ukraine’. As tensions on the Ukrainian border continue to mount, the US has placed 8,500 troops on alert as world leaders met virtually on a White House led call yesterday. British Prime Minister Boris Johnson spoke out, warning the Russian public that a new conflict has the potential to replicate Chechnya. US Secretary of State Anthony Blinken is expected to send a formal response to Russia by the end of the week. (Financial Times)

‘Rise in UK state pension age drives record employment among 65-year-olds’. After the last rise in the state pension age to 66 in 2018, employment among 65-year olds has climbed. In 2021, despite Coronavirus restrictions in the UK, 55,000 more 65-year olds found themselves in employment. It's been suggested that financial necessity may have driven this rise as homeowners returned to employment slower than renters, as did those with higher education. The state pension age is set to rise to 67 in 2026. (Financial Times)

Today

Asian markets closed lower overnight despite a marginal bounce on Wall Street, with the S&P 500 notching a 0.28% gain. Treasury yields have cooled in recent days ahead of the Federal Reserve meeting tomorrow. West Texas Intermediate dropped below $84 a barrel this morning.

Events

Australia Consumer Price Index q/q (Q4. 21): 1.3% (est. 1.0%)
Bank of Japan Core CPI y/y (Jan): 0.9% (est. 0.7%)
German ifo Business Climate: 9:00AM
US CB Consumer Confidence: 3:00PM
Australia Bank Holiday: All day

Interbank rates:

GBP/USD – 1.3484
GBP/EUR – 1.1923
EUR/USD – 1.1308
USD/CAD – 1.2636

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