Morning wrap (07.12.2020)

• Asian equities traded mixed on the first session of the week. Nikkei dropped 0.7%, S&P/ASX 200 added 0.6%, Kospi gained 0.5% and indices from China moved lower

• DAX futures point to lower opening of the European session

• Contradicting reports on Brexit surfaced over the weekend. Media reported that EU and UK found a solution on fisheries. However, such claim was later rejected by another media report quoting UK government official

• According to media reports, French President Macron and German Chancellor Merkel have agreed to soften demand in EU-UK talks

• United States are readying sanctions on more Chinese companies and officials

• Bipartisan group of senators is reportedly set to unveil a $908 billion economic relief bill today

• Chinese exports rose 21.1% YoY in November (exp. +12% YoY) while imports increased 4.5% YoY (exp. 6.1% YoY)

• A record 686 thousand new coronavirus cases were reported on Friday, December 4

• Small ranges prevail on the commodity markets. Oil is trading a touch higher while precious metals trade mixed

• JPY is the best performing major currency while GBP lags. However, ranges on the FX market are narrow as well

A new record number of daily coronavirus cases has been reported on Friday. Source: worldometers, XTB