- Several major stock markets closed at all-time highs on Friday, but most Asian markets are closing down a little this Monday as sessions come to a close.
- Forex markets have begun the week very quietly, after the U.S. Dollar Index ended last week at a new 2.5-year low, falling against almost all counterparties. The euro and some of the commodity currencies (the AUD, NZD, and CAD) have been especially strong.
- The EUR/USD, AUD/USD, and NZD/USD currency pairs reached new 2-year high prices last week. However, Friday ended with counter-trend retracements, and the dollar is mostly slightly higher so far today.
- Bitcoin has failed for several days to reach new highs at or beyond $20,000, suggesting that a major breakout beyond $20,000 is looking more unlikely to happen over the short term.
- Last-ditch talks are set to begin between the E.U. and the U.K. on the terms of a potential trade deal. If a deal is not agreed before the end of 2020, the U.K. will trade with the E.U. on World Trade Organization rules, meaning there will be tariffs on imports from both sides, which will impact the GBP and, to a lesser extent, the EUR. The British government is publicly signaling its unwillingness to agree to a deal unless the E.U. modifies certain demands.
- Globally, new coronavirus cases are continuing to rise exponentially, with a new daily record all-time high of 688,333 confirmed cases made last Thursday.
- Last Thursday also saw a record high number of 12,834 coronavirus deaths reported globally.
- Global coronavirus deaths have increased dramatically since early October to reach a level approximately 90% higher than the peak last April. Coronavirus new cases and deaths have begun to fall in the European Union, but both are currently increasing sharply in the U.S.A. A lockdown has been imposed in California as the state’s intensive care capacity has become severely strained. The U.S.A. is currently confirming more than 165,000 new cases daily and has recently seen more than 2,000 deaths per day.
- Total confirmed new coronavirus cases stand at over 67 million with an average case fatality rate of 2.29%.
- The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Azerbaijan, Belarus, Belize, Bosnia, Brazil, Burkina Faso, Canada, Croatia, Cyprus, Cuba, Denmark, Egypt, Estonia, Finland, Georgia, Germany, Guatemala, Indonesia, Israel, Japan, Kenya, South Korea, Latvia, Lithuania, Mali, Moldova, Netherlands, Niger, Nigeria, North Macedonia, Pakistan, Panama, Paraguay, Portugal, Romania, Russia, San Marino, Serbia, Senegal, Slovakia, Slovenia, South Africa, Sri Lanka, Sudan, Tunisia, Turkey, Ukraine, the U.A.E., and the United States.