Ukraine appeals for financial aid
Today's news headlines:
‘Macron zeroes in on Le Pen’s Putin link as campaign steps up’. French President Emmanuel Macron has ramped up his campaign heading into the final vote, with his team focusing on Marine Le Pen’s ties with Vladimir Putin. Finance Minister Bruno Le Maire said the public has a choice between ‘an ally of Vladimir Putin’ and a president who puts France at the forefront of Europe. Two weeks out from the final vote Le Pen has gained momentum and is behind by 4.7 percentage points. (Bloomberg)
‘Ukraine calls for financial support to ensure country’s survival’. Ukraine’s Finance Minister, Sergii Marchenko, has appealed for tens of billions of dollars to fill the fiscal deficit caused by the war. The deficit grew to $2.7bn in March, and Ukraine expects this to grow up to $7bn by May. Ukraine has received significant military aid from Western countries so far, but it also wants financial aid and emergency lending from the IMF and World Bank. Marchenko warned ‘now it is a question of the survival of our country’. (Financial Times)
Global equities opened in the red this morning, and Treasury yields ticked higher ahead of key US inflation data this afternoon. The US Dollar extended gains on a trade-weighted basis to reach the highest level since May 2020, and the Euro fell. Brent crude climbed overnight to above $100 a barrel after trading below the level throughout yesterday’s session.
German Consumer Price Index YoY (Mar): 7.3% (est. 7.3%)
UK Unemployment Rate (Feb): 3.8% (est. 3.8%)
German ZEW Economic Sentiment (Apr): 10:00AM
US CPI YoY (Mar): 1:30PM
GBP/USD – 1.3010
GBP/EUR – 1.1975
EUR/USD – 1.0864
USD/CAD – 1.2650
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