Sterling is well-bid against most majors overnight. Defence Secretary Ben Wallace has launched an investigation into a data breach involving the email addresses of dozens of Afghan interpreters who worked for British forces. More than 250 people seeking relocation to the UK – many of whom are in hiding – were mistakenly copied into an email from the Ministry of Defence. Boris Johnson is due to meet with US President Joe Biden on Tuesday at the White House, amidst the diplomatic victories for ending the US travel ban from November and the AUKUS submarine alliance. Johnson claimed that Dutch PM Mark Rutte offered to mediate talks on the Northern Ireland protocol between the UK and EU, despite Dutch diplomat denying the claim.
The euro is higher against the dollar and lower against sterling in early morning trade. The EU’s top leaders on Monday bluntly accused U.S. President Joe Biden of disloyalty to the transatlantic alliance, and demanded he explain why he misled France and other European partners in forging a new strategic tie-up with the U.K. and Australia in the Indo-Pacific. Greece’s pandemic-battered economy will bounce back even more quickly than its government projects and could return to pre-crisis levels this year, according to Bank of Greece Governor Yannis Stournaras. The strong rebound, coupled with Athens’ commitment to structural reforms, should pave the way for the European Central Bank to continue to buy Greek debt under its asset purchases programs.
The dollar is lower most major currencies overnight. The US Covid-19 death toll surpasses the 1918 Spanish flu death toll, as the US health care system fails to deal with a resurgent Delta variant. Hospitalisations and severe illness caused by Covid-19 among largely unvaccinated people in the Southern and Mid-West United States. This has driven the rolling weekly average of daily Covid-19 deaths to about 1,900 – the highest level since December 2020. President Biden intends to increase to 125,000 the number of refugees who can enter the United States in the fiscal year beginning Oct. 1, the State Department announced on Monday. The policy is unlikely to affect the situation of Afghans and Haitians, arguably in most need of asylum.
Ballinger & Co. Morning Report–21st September 2021
GBP>EUR – 1.1664
GBP>USD – 1.3686
EUR>USD – 1.1733
GBP>CAD – 1.7457
GBP>AUD – 1.8801
GBP>SEK – 11.853
GBP>AED – 5.0279
GBP>HKD – 10.652
GBP>ZAR – 20.148
GBP>CHF – 1.2675
· USD Building Permits (MoM)(Aug)
· USD Housing Starts (MoM)(Aug)
· Forex Today: Dollar retreats as Evergrande scare eases, cryptos remain depressed, Fed tensions rise
· EUR/USD Forecast: Dead-cat bounce? Why Evergrande may return to haunt markets soon
· AUD/USD sticks to intraday gains near 0.7275-80 region, upside seems limited
· ECB’s de Guindos: Inflation could peak around November at around 3.4-3.5%
This document has been prepared solely for information and is not intended as an Inducement concerning the purchase or sale of any financial instrument. By its nature market analysis represents the personal view of the author and no warranty can be, or is, offered as to the accuracy of any such analysis, or that predictions provided in any such analysis will prove to be correct. Should you rely on any analysis, information or report provided as part of the Service it does so entirely at its own risk, and Frank eXchange Limited/Manor House Foreign eXchange Limited accepts no responsibility or liability for any loss or damage you may suffer as a result. Information and opinions have been obtained from sources believed to be reliable, but no representation is made as to their accuracy. No copy of this document can be taken without prior written permission.