{"id":6708,"date":"2024-03-14T09:15:32","date_gmt":"2024-03-14T09:15:32","guid":{"rendered":"https:\/\/hamiltoncourtfx.com\/?p=6708"},"modified":"2024-03-14T09:15:32","modified_gmt":"2024-03-14T09:15:32","slug":"morning-update-35","status":"publish","type":"post","link":"https:\/\/hamiltoncourtfx.com\/es\/morning-update-35\/","title":{"rendered":"Morning Update"},"content":{"rendered":"
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Thought for Thursday<\/strong><\/h4>\n

Present fears<\/h4>\n

Are less than horrible imaginings. – King Duncan, Macbeth<\/h4>\n

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Ukraine<\/h2>\n <\/div>\n
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Yesterday, Ukrainian forces continued to ramp up drone attacks on oil refineries in the Russian interior in an effort to disturb the country\u2019s economy. Strikes took place in places such as Ryazan, Kstovo and Kirishi which make up roughly 10% of Russia\u2019s oil processing capacity.<\/p>\n

This comes as Ukraine-backed Russian paramilitary units opposed to Putin conducted cross-border operations into Russia earlier in the week. For example, the BBC reported that The Freedom of Russia Legion (FRL) and Siberian Battalion (SB) \u201cposted videos purportedly showing their fighters in Russia’s Belgorod and Kursk regions.\u201d While the numbers of casualties have not been verified, Moscow have said that they stopped the incursions.<\/p>\n

This comes as gridlock on Capitol Hill means that a US foreign aid package worth $95bn – with $60bn earmarked for Ukraine \u2013 continues to struggle to get through the House of Representatives, having cleared the Senate earlier last month.<\/p>\n

As the stalemate continues, yesterday, the Biden Administration announced that Washington will send Kyiv a fresh military aid package worth $300m. Here the US\u2019 National Security Advisor Jake Sullivan said that “It is nowhere near enough to meet Ukraine’s battlefield needs and it will not prevent Ukraine from running out of ammunition\u201d.<\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n

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Sunak Announces New Gas Power Stations<\/h2>\n <\/div>\n
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The Prime Minister has announced that the government will build a number of new gas power stations across the UK to better sure up energy security. In an article written for The Telegraph, Rishi Sunak said that the projects are the \u201cinsurance policy Britain needs to protect our energy security\u201d.<\/p>\n

Following Sunak\u2019s article, in an announcement by the Energy Secretary on Tuesday, Claire Coutinho laid out plans to extend the life of existing unabated gas power plants.<\/p>\n

While the government maintains that their measures are consistent with their net-zero plans (to shift all electricity generation to clean sources by 2035), the plans have been met with backlash given that they do not involve carbon capture. For example, the Liberal Democrat energy and climate change spokesperson Wera Hobhouse said that it represented \u201canother step backwards on the critical road to net zero”.<\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n

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Today\u2019s Data<\/h2>\n <\/div>\n
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Today\u2019s data includes the release of US retail sales figures at 12:30 where the market consensus is pointing to a month-on-month print of 0.8% for February. This would mark a sizeable increase from last month\u2019s print which came in at -0.8%, well below the forecasted 0.1% contraction. With last month\u2019s figure representing the greatest fall since March 2023, the consensus projects the figures to rebound to the highest rate of increase since September 2023.<\/p>\n

12:30 will also see the release of the latest PPI figures where the market consensus is estimating the annualised print to rise 20bps from 0.9% in January to 1.1% in February. With last month\u2019s print coming in 30bps above expectations of 0.6%, the market will be considering how the print could influence the future pathway of the Fed, not least following US CPI (annualised) rising 10bps to 3.2% during February.<\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Thought for Thursday, drone attacks on Russian oil refineries from Ukrainian forces continue, new gas power stations to be built across the UK, and what’s happening today.<\/p>","protected":false},"author":15,"featured_media":1205,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"rp-language":[16],"class_list":["post-6708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-morning-updates","rp-language-en_gb"],"_links":{"self":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts\/6708","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/comments?post=6708"}],"version-history":[{"count":9,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts\/6708\/revisions"}],"predecessor-version":[{"id":6717,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts\/6708\/revisions\/6717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/media\/1205"}],"wp:attachment":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/media?parent=6708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/categories?post=6708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/tags?post=6708"},{"taxonomy":"rp-language","embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/rp-language?post=6708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}