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Biden Raises Concerns Over China’s “Substantial” Support for Russia

RUSSIA
  • Drone interference from Ukraine continues, with the defence ministry this morning reporting interception of drone attacks across the Kursk and Belgorod regions.
  • Following Xi and Biden’s late call yesterday, readouts of the meeting confirm the two leaders discussed China’s support for Russia via military aid, as Biden raised his concern over the “substantial” support.
  • Composite PMI data for March this morning confirmed a reading of 52.7, from 52.2 previously, with the services contribution at 51.4 from 51.1 previously.
  • The Russian finance ministry are set to release their FX operations schedule and latest oil & gas revenue data at 12pm (1000BST) ahead of retail sales, unemployment rate and construction data later in the session (7pm local time, 1700BST).

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