On the rise

Today’s news headlines:

‘Boris Johnson warns of tougher Covid-19 restrictions for England’. Speaking on the Andrew Marr show on Sunday, Boris Johnson admitted that the government are constantly reviewing the rise in coronavirus cases and are entirely focused on getting the virus under control, which could mean tougher restrictions in the weeks ahead. The government have deployed military forces in the largest peacetime homeland operation to assist with testing in schools, vaccine rollout and aiding the logistics industry. Labour leader Sir Kier Starmer, has called upon the government to return the country to a national lockdown, similar to in November, but commented that he would like to see schools remain open. (Financial Times)

‘Trump pressures Georgia official to ‘find’ votes to overturn election result’. In an hour-long phone call to Georgia’s Secretary of State, Donald Trump asked the official to ‘find’ another 11,780 votes required to win the state, insisting that there was ‘no way’ he was defeated. In a last-ditch and brazen attempt to cling to power, President Trump pressed Brad Raffensperger to change the official vote count, commenting that the people of Georgia and the US were angry with the result. Trump has repeatedly refused to officially concede the election to Joe Biden, making a series of unfounded claims of voter fraud in November’s election. (Financial Times)

Today's events, rates, and data 

  • The US Dollar has slipped further since yesterday evening’s market open, as traders and investors wager that the global pandemic recovery will push just about every other asset higher against the Greenback. Sterling touched the 1.37 handle earlier this morning, although it could be susceptible to selling pressure if the government is forced into tougher virus measures. The market, however, is risk-positive in general to start the new year.

Today's events

Eurozone Final Manufacturing PMI: 9.00am
UK Final Manufacturing PMI: 9.30am
US Final Manufacturing PMI: 2.45pm
FOMC Member Bostic Speaks: 3.00pm
FOMC Member Evans Speaks: 3.00pm

Interbank rates

GBP/USD: 1.3690
GBP/EUR: 1.1165
EUR/USD: 1.2265
USD/CAD: 1.2695