Forex News April 13, 2022

 

China

Remarks by China President Xi Jinping; China must maintain strict “dynamic COVID-19 clearance” policy

Control and prevention measures must not be relaxed; and the impact of COVID-19 on economic and social development must be minimised.

This will not alleviate much of the pressure in Shanghai, where the pandemic’s largest outbreak has occurred since the pandemic’s inception. For context, Shanghai reported more than 25,000 cases in its most recent update.

US Futures

  • For the time being, US futures remain higher, with earnings taking centre stage.
  • S&P 500 futures are up 0.6 percent on the day.  European indices have also recovered earlier losses to be up 0.1 percent to 0.2 percent, though the DAX is still down 0.3 percent. However, US futures are continuing to rise, with the S&P 500 and Dow futures both up 0.6 percent, and the Nasdaq futures up 0.8 percent.

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