Freedom Day falls flat
Today's news headlines:
‘Key sector workers to be exempt from isolation, says Johnson’. Boris Johnson has announced emergency plans that will exempt key workers from isolation to curb social disruption. England relaxed most of the country’s Coronavirus restrictions yesterday despite soaring case numbers. The rise in cases has been creating disruption for several companies as those in close contact with the virus are required to self isolate. It was also announced yesterday that double vaccination will be required to enter nightclubs from September. (Financial Times)
‘Global stock sell-off deepens on Delta variant fears’. Equities snapped back yesterday as fresh concerns around the Delta variant hit markets. Investors are unnerved at the potential for the Coronavirus variant to stagger the global recovery. Asian markets followed suit overnight, with Hong Kong’s Hang Seng Index reversing 1.2% while China’s CSI 300 Index fell 0.5%. The US 10-year treasury yield managed to hold around 1.2%, its lowest level in six months. (Financial Times)
Today's events, rates, and data
The Dow Jones had its worst day in three months falling 2.09% as Covid-19 cases rise globally. The FTSE 100 closed 2.34% lower yesterday amid fresh inflation and Delta variant concerns, knocking sentiment. Cable continues to drift lower, trading around $1.3650 this morning.
Japan National Core CPI y/y: 0.2% vs 0.1% last month
German PPI m/m: 1.3% vs 1.5% last month
US Housing Starts: 1:30PM
Australia CB Leading Index m/m: 3:30PM
GBP/USD – 1.3659
GBP/EUR – 1.1595
EUR/USD – 1.1784
USD/CAD – 1.2770
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