Economic calendar: US-China relations back in focus

• Risk-off moods can be spotted around the world

• Biden to present economic package on Thursday

• US earnings season begins on Friday

Equity indices and futures are trading lower at the start of a new week. Reports that the United States will remove restrictions on its relations with Taiwan as well as rumours that the US may take further action on Hong Kong are triggering risk-off moves as moves by the outgoing Trump administration could damage US-China relations further. On the other hand, Joe Biden is expected to present details of the economic package on Thursday while big US banks will launch Q4 2020 earnings season on Friday with reports from JPMorgan, Wells Fargo and Citigroup.

Today's earnings calendar looks empty with European Sentix index being the only noteworthy release. However, it seldom has a major impact on the markets. ECB President Lagarde will participate in a panel discussion in the afternoon but it will be focused more on climate rather than monetary policy.

9:30 am GMT - Euro area, Sentix index for January. Expected: 0.7. Previous: -2.7

Central bankers' speeches:

• 2:40 pm GMT - ECB President Lagarde

• 5:00 pm GMT - Fed Bostic