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Today's news headlines: 

‘UK growth forecasts boosted by vaccines rollout and extended state support’. With spending on the rise in the UK and the job market improving, many economists have begun upgrading growth projections. The EY Item Club expect the UK to grow 6.8% this year up from 5% in January. This would be some of the fastest growth seen since the Second World War. If spending continues on this upward trajectory as more restrictions are eased, it is likely we could see some of these forecasts upgraded further. (Financial Times)

‘US plans to share up to 60m doses of AstraZeneca’s Covid vaccine with other countries’. After reaching 230 million coronavirus vaccinations, the US is aiming to provide support to those countries with lower rates of inoculation. India looks to be in prime contention to receive some 60 million doses from the US as infection rates continue to soar in the country, with 349,000 infections reported on Saturday. Low rates of vaccinations have helped this wave spiral out of control with only 10 doses per 100 people currently being reported. (Financial Times)

Today's events, rates, and data 

  • The S&P 500 and Dow Jones closed 0.18% lower yesterday as earnings season began. The FTSE 100 managed a 0.35% gain after the news of potential loosening of travel restrictions in the EU this summer. Major currencies look little changed this morning as Cable continues to consolidate close to the $1.39 level.

Today's events

Japan Core CPI y/y: 0.0% vs -0.2% last month
UK CBI Realised Sales: 11:00am
US CB Consumer Confidence: 3:00pm
Canada BOC Governor Tiff Macklem Speaks: 9:00pm

Interbank rates

GBP/USD: 1.3892
GBP/EUR: 1.1509
EUR/USD: 1.2071
USD/CAD: 1.2403

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