Dollar a touch softer
The euro and sterling have recovered some ground against the dollar with both gaining around a cent to trade at $1.09 and close to $1.31 respectively this morning, leaving the single currency-pound exchange rate largely unchanged at just over 83p
European equity markets advanced yesterday, gaining almost 2%, though US stocks closed flat on the day, while government bond yields have eased back a touch from recent highs
ECB member Nagel says “it seems that we’ll be able to conclude net (bond) purchases…at the end of the second quarter” of this year, meaning there could be a first increase in interest rates “at the beginning of the third quarter”
Fed’s Daly says the “top priority right now is bringing inflation (in the US) back to levels that people don’t have to think about”, adding that she expects inflation “to start coming down” later this year
Data due today includes consumer confidence in the Euro area and jobless claims in the US