Today's news headlines: 

‘Russia sanctions bill moves closer in senate ahead of briefings’. This week, the Biden administration in the US will brief lawmakers and military officials as well as the full Senate and House of Representatives on the Ukraine standoff. The Russian sanctions bill is close to being agreed upon by US Senators. It may include sanctions even if Putin doesn't send troops across the border into Ukraine, although Foreign Relations Committee Chair Bob Menedez said the most severe penalties will only be used if Russia invades. (Bloomberg)

‘Johnson aims to help low-income households with energy bills’. British Prime Minister Boris Johnson and Chancellor Rishi Sunak are set to finalise a ‘targeted support’ package for UK households ahead of a looming rise in energy bills. Improvements to existing schemes are being considered to help pensioners and low-income families by increasing the size of payments available and lowering the threshold for households to qualify for the support. (Financial Times)

Today

Chinese tech stocks led an equities rally in Asia’s overnight session while US and European futures were mixed. The US Dollar and Japanese Yen slipped while sovereign yields and oil prices edged higher.

Events

Eurozone Gross Domestic Product YoY (4Q21): 10:00AM
German Consumer Price Index YoY (Jan): 1:00PM
MNI Chicago Purchasing Managers’ Index (Jan): 2:45PM
Japanese Jobless Rate (Dec): 11:30PM

Interbank rates:

GBP/USD – 1.3440
GBP/EUR – 1.2022
EUR/USD – 1.1179
USD/CAD – 1.2725

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