Prior +5.0%Core CPI +2.3% vs +1.9% y/y expectedPrior +2.6%That’s a big blow to the ECB as euro area inflation unexpectedly hits a new record high, defying expectations. Soaring energy prices continue to drive up inflation mostly but food prices also surged to start the year. Meanwhile, services and

It’s been a relatively quiet couple of hours on the newsflow front, so I thought I’d share Newsquawk’s Daily US Opening News note to give you guys something to read, especially helpful for those of you just getting to your desks for the U.S. session.Also, a quick look at USD and 10-Yr Yields USD Mon

Eurozone Unemployment Rate: 7% (Forecast 7.1%, Previous 7.2%)EURUSD @ 1.1257
Full Report

UK Mortgage Approvals: 71.015k (Forecast 66k, Previous 66.964k)UK Mortgage Lending: 3.571B (Forecast 3.522B, Previous 3.693B)UK M4 Money Supply: 0.1% (Forecast -, Previous 0.7%)BoE Consumer Credit: 0.800B (Forecast 0.4B, Previous 1.233B)GBPUSD trades @ 1.3484

UK Markit Manufacturing PMI Final: 57.3 (Forecast 56.9, Previous 56.9)Key findings:Production rises at fastest rate in six months
New order growth slows despite mild uptick in new export businessInput cost and output price inflation easeFull Report

Russia’s Rouble getting a bid. Certainly being helped by the news that Russia is sending Nat Gas to Europe via UkraineEuropean Gas Prices Tumble as Russia Boosts Flows Via UkraineAlso comes after Ukraine has been very vocal on the fact that they aren’t seeing much/if any escalation in Russian action

The last week has been
an interesting one for FX in terms of economic events, and there’s more that
traders should expect this week. We have the upcoming RBA Rate Statement and
Cash rate, OPEC-JMMC Meetings, BOE Monetary Policy Summary, ECB Press
Conference and NFP. 

British Prime Minister Boris Johnson has received an update on the internal inquiry into potential lockdown breaches at his Downing Street residence, the Cabinet Office said in a statement on Monday. A Cabinet Office spokesperson said: „We can confirm that Sue Gray has provided an update on her inve

After its first policy meeting in 2022, the US
Federal Reserve said it is likely to hike interest rates in March, for the
first time in more than three years and confirmed plans to end its bond
purchases, introduced during the coronavirus pandemic, in the Fed’s battle to
control surging inflation.

Russian Foreign Minister Lavrov Will Speak By Phone With U.S. Blinken On Feb. 1 – Tass~ We will be looking for Russia’s response to the US/NATO proposals, and then the next steps in the Rusia/Ukraine situationReuters are reporting that the United States and its allies have prepared a list of Russian