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PA Market Report: Overview & Upcoming Events Jan’21 (Jan01 – Jan08)

priceactionadmin 4 years ago

PA Market Report is offering insights on the market and a general update of the upcoming events that may cause an impact. From now on, we’ll be offering this report every week for our audience. Let’s find out what happened at the beginning of the new year 2021.

January 01 – January 08, 2021:

January – 4: 2021’s first trading day began with turmoil as UK PM Johnson set out covid restrictions. Stock-piling and supply chain disruption of UK manufacturers initialized due to Brexit buying and port issues.

January – 5: Russia held out for Another Output Hike of 500,000 B/D. US Manufacturing PMI reached 60.7%; December 2020 Manufacturing ISM Report On Business. Japan may Halt Business Travel Deal With China And South Korea in an effort to curb the spread of the new coronavirus.

But the biggest news has to be UK Prime Minister Boris Johnson order of national lockdown for England, which started at 5 January, midnight

January 6: January 6 was all about the USA. Democrats won the Georgia senate election, Both Georgia Democrats had double-digit leads of about 40%. The drama began as soon as Pence told Trump he lacks the power to change the election result.

But the real turmoil began when Trump supporters started breaching the US Capitol, and an unidentified woman died.

January 7: A ray of hope for the UK construction sector as recovery continues, led by house building. Although the volume of retail trade down by 6.1% in the euro area. As a new variant of Covid-19 is on the radar,

Ministry of Finance said they are closely Watching Market Movements. They also said Gov, BoJ Will Work Together As Needed.

January 8: Canada’s Labor force survey got released as well as the Employment situation in the USA. Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment reflects the recent increase in coronavirus (COVID-19) cases and efforts to contain the pandemic. We saw a huge drop in the US30 along with NASDAQ & US500 as a consequence of the report. Vice-Chairman of the Federal Reserve, Richard Clarida said, “it will take some time for economic activity and employment to return to pre-crisis levels”