Today's news headlines: 

‘Vaccine sites to open in UK stadiums as Omicron cases surge’. The UK is ramping up its delivery of booster shots to the public after a surge in Omicron cases, using stadiums and racecourses to fulfil the government’s promise. Health Secretary Sajid Javid told Parliament the Omicron strain now accounts for 20% of cases in England, and the estimated number of daily infections is 200,000. (Bloomberg)

‘China developer selloff deepens as Shimao deal raises ‘red flag’’. Chinese property stocks are heading for their lowest level since early 2017 following corporate governance concerns over a deal between two units of Shimao Group. A JP Morgan analyst said the connected-party acquisition ‘not only implies tight liquidity conditions for Shimao but is also a corporate governance red flag'. (Bloomberg)

Today

Asian stocks slipped overnight, with China posting the biggest losses while European and US futures ticked higher. The US Dollar climbed while Sterling and the Euro remained steady on a trade-weighted basis, and Treasuries held onto gains ahead of tomorrow’s Federal Reserve policy announcement.

Events

UK ILO Unemployment Rate (Oct): 4.2% (est. 4.2%)
UK Average Weekly Earnings (Oct): 4.9% (est. 4.6)
US Producer Price Index (Nov): 1:30PM

Interbank rates:

GBP/USD – 1.3200
GBP/EUR – 1.1713
EUR/USD – 1.1270
USD/CAD – 1.2807

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