UK CPI (y/y)
UK Retail Price Index
SA CPI
US MBA Mortgage Applications
US New Home Sales
EC Consumer Confidence
President Joe Biden will be in Europe from today to meet with the US’ NATO partners, attend a European Council meeting and participate in a G7 Summit
Oil prices remain elevated as supply to a Russian Black Sea port is throttled significantly in response to storm damage.
Central banks maintain their significantly hawkish tone in response to concerns over strongly higher inflation, preparing markets for the possibility of more aggressive hiking and to rein in inflation expectations.
Rand strengthening trend may pause as we await the MPC announcement tomorrow afternoon.
USD/ZAR opens at 14.81; EUR/ZAR at 16.33; GBP/ZAR at 19.64; CNY/ZAR at 2.33; EUR/USD 1.10 and XBT/USD (Bitcoin) 42,606.24.
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Sanctioned Russian oligarchs are getting serenaded by the world’s smallest violin as the EU, UK, and US band together to seize their assets. #RussiaInvadedUkraine
In his State of the Union earlier this month, President Biden promised oligarchs that the West would “seize your yachts, your luxury apartments, your private jets". #RussiaInvadedUkraine
And so far…
Superyachts owned by Russia’s business elites have been impounded in Italy, France, Spain, and the UK territory of Gibraltar. #RussiaInvadedUkraine
The rand remains robustly below the 15 level to the greenback, but concerns that the Fed could move more strongly at future meetings could be driving it weaker
The viral images of Russian tanks stuck in mud is a fitting metaphor for how the country’s invasion in Ukraine is going. #UkraineUnderAttaсk
More than three weeks in, this conflict is likely headed for a stalemate, according to new analysis from the Institute for the Study of War (ISW). #RussianUkrainianWar