Today's news headlines:
‘UK to offer Covid vaccines to 12-to-15-year olds as part of winter plan’. The UK government has started ramping up efforts to bolster the country’s Coronavirus defences heading into the winter. All children aged 12-15 will be offered the vaccine as schools re-open this Autumn. Boris Johnson is also expected to confirm the use of booster jabs for the most vulnerable to avoid yet another national lockdown. The recent return to school has corresponded with a rise in cases with 67,000 incidences reported last week, 50% higher than the week prior. (Financial Times)
‘Spain acts as soaring energy prices pile pressure on EU governments’. Europe’s major governments are feeling the burden of rising energy prices, with Spain announcing temporary tax cuts to ease the burden on consumers' pockets. Taxes on electricity are expected to be cut by €1.4bn this year, while Prime Minister Pedro Sánchez has maintained a firm commitment to keeping consumers energy bills the same as those in 2018. The rise in energy prices has pressured the European Union to introduce more green initiatives, but ministers in France and Spain have spoken out against these proposals suggesting they'd be detrimental to the poor. (Financial Times)
US stocks bucked the trend on Monday breaking the worst losing streak since June, with the S&P 500 closing 0.25% higher. Asian markets continued to drift lower overnight as the China tech crackdown drags on, seeing the Hang Seng fall 1.35%. Cable is trading 0.20% higher this morning, but US Consumer Price Index data out later today could inject some volatility.
Australia House Price Index q/q: 6.7% vs 5.4% previously
UK Claimant Count Change: -58.6K vs -7.8K last month
UK Unemployment Rate: 4.6% vs 4.6% last month
Switzerland Producer Price Index m/m: 0.7% vs 0.5% last month
German Bundesbank President Jens Weidmann speaks: 8:35AM
US CPI and Core CPI m/m: 1:30PM
GBP/USD – 1.3846
GBP/EUR – 1.1721
EUR/USD – 1.1813
USD/CAD – 1.2650
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