Line chart of the number of people currently in US hospitals, with Covid-19 showing US coronavirus hospital stays have exceeded 100,000

ECB meeting, EU summit, UK vaccine

Europe will be the center of attention this week with a long-awaited meeting of the European Central Bank, an EU summit and the “final roll of the dice” for the Brexit talks.

It’s also a big pandemic week for the UK as the country prepares for the BioNTech / Pfizer vaccine launch.

In the United States, a bipartisan group of US Senators is set to announce additional fiscal stimulus laws worth around $ 900 billion as early as Monday to accelerate aid to an economy that continues to decline due to a record spike in coronavirus cases is exposed.

For businesses, Rolls-Royce and Ocado will have trade updates later this week.

It’s been a relatively quiet week on the macro front, but there is Chinese trade data and manufacturing reports from Germany and France.

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EU summit

EU leaders will meet in Brussels on Thursday and Friday to discuss key issues for the bloc, including approving the next budget and the € 1.8 billion recovery package, ratifying the 2030 and 2030 climate targets End the Brexit deal at the start of the trade talks game.

The budget disputes with Poland and Hungary threaten to heighten tension between members and overshadow an important day to demonstrate the EU’s commitment to new emissions targets at international level.

Last Friday, EU Budget Commissioner Johannes Hanes warned Warsaw and Budapest that Brussels could remove them from its recovery fund when he confirmed the Commission’s lawyers had found possible ways to overcome countries’ objections to the upcoming spending plan.

However, these are not the only things brewing in the EU’s cauldron. French President Emmanuel Macron has been accused by British officials of introducing new demands as Brexit talks may extend to the summit.

European Commission President Ursula von der Leyen is grappling with other angry governments including the Netherlands, Denmark, Belgium, Spain and Italy.

further reading

Coronavirus

UK NHS is preparing to launch BioNTech / Pfizer vaccine.

The UK drug and health products regulator approved the coronavirus sting last Wednesday. The US Food and Drug Administration is expected to deliver its verdict in mid-December. The EU regulator is unlikely to follow suit before the end of the month.

The BioNTech / Pfizer vaccine will initially be distributed to UK hospitals who will be able to keep it safe as it must be kept at minus 70 ° C. It will likely be given to nurses, NHS staff, and patients first.

Figures released Friday by the Office of National Statistics show that the rate of coronavirus spread among the UK population has slowed significantly. On the other hand, Covid-19 cases, deaths and hospitalizations have skyrocketed in the United States in recent weeks.

Elementary schools in New York City will reopen on Monday. Schools were a controversial issue in the US during the pandemic.

Ghana election

Ghanaians elect their president on Monday when incumbent Nana Akufo-Addo of the center-right New Patriotic party competes against John Mahama, a former president of the opposition National Democratic Congress who held office from 2012 to January 2017.

Akufo-Addo is aiming for a second term of four years and is expected to beat his opponent.

Earn reports

Ocado, which is now part of a joint venture with Marks and Spencer, has a trading update on Thursday.

The UK online grocery retailer raised its full-year earnings forecast last month, cementing its position as one of the company’s winners amid a pandemic that has pushed more people to shop online.

Rolls Royce Updates on Friday, a month after £ 2 billion was raised by shareholders to help survive the pandemic. The struggling UK engine maker is expected to report on its progress on temporary closings and cuts to hours.

Asana will publish its third quarter results on Wednesday, the first investor update since the software company went public in September.

Tech group oracle, which recently hit the news for a lawsuit with Google for an attempt to buy out TikTok’s US operations, is due to report alongside the rival on Thursday Adobe.

Tour operator Tui will publish its fourth quarter results on Thursday as it highlights the damage of a disastrous year for the travel industry. The company came under fire in November for refusing to allow 550 cabin members to join the UK vacation program on seasonal contracts.

US big box retail chain Costco, UK rail and bus operators First group, Yogawear specialist Lululemon and fashion retailers Ted Baker also report this week.

Central banks

The ECB is expected to add another EUR 500 billion to its emergency purchase program for EUR 1.35 billion on Thursday.

The ECB said in October that it will “recalibrate” all of its monetary instruments and recently issued new indications that it was preparing to give more monetary stimulus to the ailing euro area economy than its chief economist “signals worrying” for led the financial health of the banks and small businesses contracted.

Markets seem confident that the ECB can keep yields in check, but not so much that the bank can keep inflation below 2 percent.

Nothing else changes Chile should keep his courses on monday on hold, Canada and Brazil expected to stand on Wednesday pat, and Peru do the same on Thursday.

Economic data

The UK has gross domestic product and trade data for October on Thursday that should shed some light on how the latest wave of restrictions has affected the economy.

Analysts are optimistic that industrial production numbers for Germany and France will pick up on Monday and Thursday, respectively, as manufacturing is less likely to suffer due to lockdowns.

A further recovery is forecast for China as the export and import data released on Wednesday will grow year on year. Consumer demand and domestic activity are expected to drive the increase.

Investors will check out Japan’s manufacturing and services data for additional information on the fourth quarter and the Tankan index next Sunday.

The University of Michigan released U.S. flash sentiment data on Friday at a time when the country’s sentiment is split between the surge in infections and hopes for vaccines.