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US stimulus plan, Eurozone Resiliency and UK’s Fishing Rights

Weekly Market Update 18 Dec 2020 – US stimulus plan, Eurozone Resiliency and UK’s Fishing Rights

1. US Stimulus discussion is progressing well with talks that a potential agreement may be met over the weekend. While the support is a far cry from what was offered in March, the relief is nonetheless a saving grace to millions of Americans. Coupled with Moderna’s vaccine likely to become the second to be approved by the Food and Drug Administration as soon as this coming week, USD may face further downward pressure

2. German IFO business climate index rose with improvements in both current and expected components. This positive economic news is the latest in a string of positive sentiment from the Eurozone, surprising most economists despite the nationwide lockdowns that appears to have limited impact on the economy

3. Brexit talks continue with less than two weeks before Britain’s scheduled departure from European Union, yet there appears to be no progress on the remaining key issue – fishing rights. Both parties are eyeing for the right to determine who can fish in British’s fishing ground given the vast swatches of UK seas

Salzworth Asset Management