Shifting tone

Today's news headlines: 

‘Johnson backs emergency plan to avoid disruption to food supplies’. Many supermarket employees have been hit by the so-called ‘pingdemic’, with thousands self-isolating causing disruption to supply chains. The government has come out and announced support through further daily testing of those critical support staff, in order for them to get back to work as soon as is feasible. The British Retail Consortium has called for the entire supply chain to be supported, with many worried that stores will be fully stocked with not enough people to run them. (Financial Times)

‘Republicans urge supporters to embrace vaccines in abrupt shift of tone’. High-profile Republicans have made public appearances this week to urge those in red states to get the vaccine. Vaccination rates in these states are very low compared with their Democrat counterparts and many are worried about another spike in infections. Republican Governors have made a number of calls in the past, such as banning companies from forcing people into having the jab or asking for proof of vaccination. (Financial Times)

Today's events, rates, and data 

  • The S&P 500 climbed 0.20% yesterday despite US Weekly Jobless Claims ticking higher. The FTSE 100 closed 0.43% lower as the European Central Bank announced a more dovish forward guidance yesterday. EUR/USD is trading just below the $1.1770 level, while Cable has settled around $1.3750.

Today's events

UK Gfk Consumer Confidence: -7 vs -9 last month
UK Retail Sales m/m: 0.5% vs -1.3% last month
German flash Manufacturing and Services PMI: 8:30AM
Eurozone flash Manufacturing and services PMI: 8:30AM
UK flash Manufacturing and Services PMI: 9:30AM
Canada Retail and Core Retail Sales m/m: 1:30PM
US flash Manufacturing and Services PMI: 2:45PM

Interbank rates:

GBP/USD – 1.3755
GBP/EUR – 1.1687
EUR/USD – 1.1773
USD/CAD – 1.2568

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