- Counting is nearing an end in two runoff elections for the U.S. Senate seats from Georgia. If Democrats win both races they will take control of the U.S. Senate as well as the Presidency, which would significantly affect the U.S. government, generally not to the market’s liking. With 97% of votes counted, one Democrat and one Republican are winning, but analysts now see it as somewhat likely that both the Democrats will win, with several media outlets now calling the race in favor of the Democrat Warnock. If so, this may mute the bullish U.S. stock market rally, which already seems to be happening.
- Bitcoin has recovered strongly from its recent sharp selloff to break above $35k and trade at a new all-time high price. An FCA regulatory ban on crypto CFDs came into force last night, affecting brokers operating from the U.K. with FCA regulation.
- Most major currencies are in strong, long-term bullish trends against the U.S. dollar. These trends are now reasserting themselves, with the dollar clearly the weakest major currency, while the Australian dollar, the Japanese yen, and WTI crude oil and all looking relatively strong.
- WTI crude oil rose strongly yesterday to breach $50 per barrel for the first time in over 6 months, after Saudi Arabia agreed to a surprise output cut.
- Global coronavirus deaths have increased dramatically since early October to reach a level approximately 71% higher than the peak last April.
- Total confirmed new coronavirus cases worldwide stand at over 86.4 million with an average case fatality rate of 2.16%.
- The coronavirus vaccine drive has been criticized in the U.S. and E.U. for its relatively slow pace so far. It has been progressing fastest in Israel, which has already administered a first shot of the Pfizer vaccine to 16% of its entire population (including a majority of the over-60s), although the country will begin a hard lockdown Friday as the rate of infection increases dramatically. The U.A.E. ranks second, having now vaccinated more than 8% of its population.
- The rate of new coronavirus infections appears to now be increasing most quickly in Andorra, Argentina, Bahrain, Canada, Chile, Costa Rica, Cuba, Cyprus, Egypt, Honduras, Ireland, Israel, Japan, Kazakhstan, Malaysia, Mali, Malta, Norway, Panama, Sweden, Thailand, Tunisia, the U.S.A., and the U.K..