European Briefing - Monday 04.01
Headlines
  • President Trump Urged Georgia Officials To ‘Find’ New Votes
  • US Republican Bid To Overturn Election Faces Fierce Backlash
  • Georgia Candidates Fight To Define Stakes Of Senate Runoffs
  • Pelosi Elected House Speaker In Narrow Democratic Majority
  • NIH’s Fauci: US Covid-19 Vaccine Pace Rising After Slow Start
  • China Oil Majors May Face US Delisting After Telecoms Oust
  • China Manufacturing Remains Strong, Expansion Pace Eases
  • Japan Prepares To Declare Covid Emergency In Coming Days
  • EU Countries Set To Extend Lockdowns As Covid Cases Surge
  • UK PM Warns National Restrictions Will Likely Get Tougher
  • UK Economy To Be One Of Last To Recover From Pandemic
  • Dollar Drops On First Trading Day, Portending More Losses
Commentary
LiveSquawk Focus On The Week Ahead

Monday 4 January: The first gauge of the mood of Eurozone investors in 2021 is expected to move higher, and the German sub-index often serves as a trend setter for the ZEW report due later this month. Consensus: EZ Headline Sentiment: 0.0 (prev -2.7).

 

Tuesday 5 January: Unemployment in Europe’s biggest labour market has been surprisingly resilient despite the pandemic, and the seasonally adjusted headline rate is expected to hold steady at 6.1%. Consensus: Unemployment Change 10k (prev -39k).

 

Voters in the Peach State have been called back to the polls to select their two senators after none of the candidates was able to garner an absolute majority in November. Media reports say early voter turnout has been high, with both races too close to call. (LiveSquawk - Continue Reading)

US Economists Expect Tough Sledding In Winter, Then A Rebound

Headed into 2021, the US faces a surge in cases, new business restrictions, cautious holiday shopping and slowing growth. Forecasters anticipate that the Labor Department’s December jobs report, due to be released Friday, will show the labor market closed the year on a weak footing.

 

Economists surveyed by The Wall Street Journal expect to see employers added 68,000 new jobs in December, down from 245,000 a month earlier. That would mark the slowest month of the labor market’s recovery since May.

 

As the Covid-19 pandemic drags into another year, however, economists see several reasons for optimism. First, the recently enacted pandemic-relief legislative package will pump $900 billion into the economy in coming months. (WSJ - Continue Reading)

‘It’s Just Unprecedented’: Senate Hinges On Georgia Runoff Chaos

Georgia’s Senate run-off elections arrive Tuesday after a whirlwind two-month campaign that smashed fundraising records, inspired historic voter turnout, bombarded the airwaves with ads, and loomed over congressional negotiations on major spending legislation.

 

The stakes may never have been higher in such a narrow election. Amid President Donald Trump’s incessant attacks on Georgia’s election integrity, four people are seeking two seats that will determine which party controls the Senate.

 

For President-elect Joe Biden, nothing less than his entire agenda is on the table. Those high stakes are underscored by planned visits on Monday by Trump and Biden, repeat appearances for both the outgoing and incoming presidents. (BBG - Continue Reading)

OPEC Sees Oil Outlook For First Half Of 2021 Full Of Downside Risks

OPEC sees plenty of downside risks for oil markets in the first half of 2021, its secretary general said on Sunday, a day before meeting allies led by Russia to discuss output levels for February.

 

“Amid the hopeful signs, the outlook for the first half of 2021 is very mixed and there are still many downside risks to juggle,” said OPEC Secretary General Mohammad Barkindo.

 

He was speaking at a meeting of experts of OPEC and allies, a group known as OPEC+, according to remarks published by OPEC. OPEC+ will meet on Monday. (RTRS - Continue Reading)

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