UK and European stocks are trading a little higher this morning after positive US data on Thursday. Jobless claims in the US fell to a new pandemic low indicating healthy progress in economic recovery.
In focus today is President Biden’s plans to for a huge $6 trillion budget which will include a massive spend on infrastructure projects and US Personal Consumption Expenditure data later in the day. The PCE report, the Fed’s favourite inflation gauge, is forecasted to see a jump and could trigger some volatility
In the UK Boris Johnson has cast doubt on the planned further easing of restrictions on June 21st due to the increasing spread of the Indian variant of coronavirus. He said “we may need to wait.”
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