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EMEA Morning Briefing: Hawkish Powell to Hold -2-

In a move that risks stoking a trade war with the EU, U.K. Foreign Secretary Liz Truss said Tuesday the government plans in the coming weeks to present a law allowing it to unilaterally alter the terms of a deal agreed in 2019 with its European counterparts that governs the movement of goods between Northern Ireland, which is part of the U.K., and the rest of the U.K.


Sweden, Finland to Lodge NATO Bid

Sweden and Finland plan to apply for NATO membership on Wednesday, according to their leaders, a move that would break with decades of nonalignment by the two Nordic countries and represent a major geopolitical shift in Europe in response to Russia's invasion of Ukraine.

At a joint press conference Tuesday, Swedish Prime Minister Magdalena Andersson and Finnish President Sauli Niinistö in Stockholm said the countries plan to jointly present their applications for membership in the U.S.-led alliance.


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Expected Major Events for Wednesday

06:00/SWE: 1Q Industrial inventories

06:00/EU: Apr New Passenger Car Registrations in Europe statistics (EU27 + EFTA3)

06:00/UK: Apr UK producer prices

06:00/UK: Apr UK monthly inflation figures

07:00/SVK: Apr Harmonized CPI

07:00/AUT: Apr CPI

08:30/UK: Feb Card Spending statistics

08:30/UK: Mar UK House Price Index

09:00/CYP: Apr Harmonised CPI

09:00/MLT: Apr Harmonised CPI

09:00/EU: Apr Harmonised CPI

09:00/GRE: Mar Labour Force Survey

10:00/POR: Apr PPI

17:59/POR: Mar Balance of Payments

23:01/UK: 3Q Manpower UK Employment Outlook Survey

All times in GMT. Powered by Kantar Media and Dow Jones.

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This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswires

May 18, 2022 00:25 ET (04:25 GMT)

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