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Vaccine slow down

Today's news headlines: 

‘Three-quarters of UK adults double-jabbed but vaccination drive slows’. Over 75% of UK adults have now been fully vaccinated, however, the vaccination uptake is beginning to slow among the younger age groups. Around 29% of 18-29-year olds have yet to receive a single dose, with inconvenience thought to be the main deterrent, rather than a hesitancy to take up the jab. The time required to distribute first doses has also increased, with the most recent batch of 5 million shots taking 26 days longer on average to distribute. (Financial Times)

‘US Senate passes landmark $1tn infrastructure package’. The US has passed the $1tn infrastructure bill to level up the country’s transport systems and boost the economy following the Coronavirus pandemic. The vote came through at 69-30 in favour of passing the bill, with staunch Republican Mitch McConnell backing the vote alongside 18 others in the party. Despite intervention from former President Donald Trump—who threatened to withhold endorsements for anyone who backed the bill—an overwhelming majority voted for yet another US stimulus deal. (Financial Times)


The S&P 500 pushed 0.10% higher yesterday, while the Nasdaq drifted 0.49% lower. Cable has moved lower overnight, trading at around $1.3825 this morning. GBP/EUR has continued to shift higher to above €1.18.


Japan M2 Money Stock y/y: 5.2% vs 5.8% last month
Australia Westpac Consumer Sentiment: -4.4% vs 1.5% last month
US Consumer Price Index and Core CPI m/m: 1:30PM
US Crude Oil Inventories: 3:30PM
Federal Open Market Committee member Raphael Bostic speaks: 3:30PM

Interbank rates:

GBP/USD – 1.3823
GBP/EUR – 1.1805
EUR/USD – 1.1710
USD/CAD – 1.2530

The markets are moving. To speak to our team, please call +44 (0)20 3465 8200.