- As traders awaited the White House's decision on who will lead the Federal Reserve, US equities futures fluctuated and treasuries rose.
- European gas prices have risen by up to 12% as a result of probable delays in the start-up of a contentious new pipeline from Russia. Due to difficulties in bringing Gazprom's Nord Stream 2 pipeline online, the region's energy stocks rose by up to 2.1%.
- Contracts on the S&P 500 index and the NASDAQ 100 erased previous losses, while bonds were supported in hopes that Fed policy tightening would be halted under a new head.
- According to the Senate Banking Committee Chairman, both current Chair Powell and Fed Governor Lael Brainard have been interviewed for the top job, and a decision is expected soon.
- The yuan rose to its highest level since 2018 in anticipation of easing tensions with the United States following the first face-to-face virtual summit between Biden and Chinese Leader Xi. They discussed the need for cooperation, with both sides wanting to stabilize US-China relations but failing to achieve major breakthroughs.
- Gold rose, while bitcoin fell below $60,000 because of fears about China's regulatory crackdown and tax-reporting requirements for digital currencies included in the new US stimulus bill.
- Barkindo: OPEC+ expects the oil market to be in surplus starting next month.
- IEA: The end of the oil price surge is in sight as production recovers.
- NDRC Spokeswoman Wei: China is considering imposing a punitive power charge for crypto mining activity.
- Senior US Government Official: Biden emphasized the importance of China meeting its promises under the first phase of the trade deal.
- UK Employment Change Actual 247k, Forecast 190k, Previous 235k. (Sterling strengthened)
