The world surpassed 91.4 million coronavirus infections today. Of those, 23.1 million have been in the United States, where the death toll reached over 385,000. The United States is still registering more than 200,000 new cases each day, its hospitals full to bursting.
Europe is also still struggling with the latest Covid-19 wave, though it seems to be tapering off somewhat. The numbers are gradually falling in Germany, France, and Italy, among others. Germany is reportedly preparing to extend its lockdown until March.
The United Kingdom saw new daily cases drop below 50,000 yesterday for the first time in two weeks. The country is still very much in the midst of its worst coronavirus outbreak and under a lockdown.
In Asia, Japan is of primary concern, as the country is experiencing its highest infection rate these days, though the government’s restrictions are preventing the situation from escalating to the American or European levels of severity.
Today the US dollar remains strong due to a higher demand for the reserve currency triggered by more attractive Treasury yields. The latter climbed because the Federal Reserve signalled it may reduce its asset purchasing program by the end of the year.
However, experts warn that the USD may weaken again soon as optimism over Covid-19 vaccinations and upcoming fiscal stimulus from Joe Biden’s administration bolster risk appetite.
US stock indices today are also on the rise. It is rare to see both stocks and the dollar rising at the same time, so one of the two will have to give in soon, the dollar being the more likely candidate.
The political situation in the US remains tense, however. Trump’s supporters are reportedly preparing for protests and will likely take action at Joe Biden’s inauguration next Wednesday. Trump has been banned from social media, and social networks are hard to work to limit right-wing propaganda on their platforms.
Later today Donald Trump will give a speech from Alamo, Texas, where he is visiting his partial border wall with Mexico. Though Trump is under increasing pressure to resign, it is unlikely that his resignation will come through this speech.
