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Weekly financial market overview 04.01.-10.01.

News - January 12, 2021



Konstantins Goluzins, CFA

Head of Asset Management
Phone.: (+371) 6700 0456
E-mail: trust@bib.eu


Main events of the previous week

Debate on the results of the US presidential election, held at the Congress building in Washington on January 6, was interrupted by riots near the Capitol. Supporters of the current President Donald Trump, after his speech at a rally in the United States capital, broke through the barriers to the Capitol and clashed with police and guards. The demonstrators managed to enter the building. The congressmen were evacuated. A few hours after the riots, the building of the US Congress again came under the control of the authorities. Debate of the election results resumed. Senate Democratic and Republican leaders Chuck Schumer and Mitch McConnell condemned the storming of the Capitol. Schumer called the incident a stain on the country that will not be easy to wash off and McConnell added that the Senate will not be intimidated. After the storming of the Capitol by supporters of US President Donald Trump, the Democratic congressmen intend to initiate a second procedure for impeachment of the president. Democrats will submit a corresponding initiative in the House of Representatives of the US Congress on January 11. Lieu, who is pushing for the resolution, said a plenary vote is expected next week, but he and his associates prefer Trump to resign voluntarily or that US Vice President Mike Pence takes steps in this direction. The draft resolution accuses Trump of incitement to riot and describes him as a threat to national security, democracy and the constitution.



Economic data

US. The number of initial jobless claims for the week was registered in the amount of 787 thousand, which is 3 thousand less than the week before and 13 thousand less than predicted by analysts.

The unemployment rate in December remained at the same level at 6.7%, and the number of the non-farm payrolls fell by 140 thousand, contrary to expectations of an increase of 71 thousand jobs.

Eurozone. The consumer price index in December rose by 0.3% against November, while the annual inflation rate was -0.3%. The growth of the core inflation rate, excluding food and energy, amounted to 0.2% y/y in December.

The unemployment rate in November fell by 0.1 percentage points and amounted to 8.3%.

Key events this week

  • On Monday, December inflation figures will be published in China.
  • On Wednesday, data on the growth of prices, as well as changes in oil reserves for the week will be published in the United States.
  • On Thursday, China will publish figures on the trade balance for December, and the US will know the number of initial jobless claims for the week.
  • On Friday, the US will release data on retail trade and industrial production for December.


The information provided herewith has an informative nature. This information cannot be regarded as an offer or recommendation for purchase, storage or sale of securities, or as an investment recommendation, an investment survey or a consultation on investments, or a recommendation to entrust management of your assets to the specific investment manager. The Client is fully aware and undertakes all risks involved in the investment. This information is prepared by AS Baltic International Bank.

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