Inflation data to be released in the US today - 13.1.2021

The US dollar index dropped on Tuesday. This was facilitated by the political risks surrounding the impeachment of former US President Donald Trump, as well as rumors of his possible prosecution. The House of Representatives of the US Congress approved a resolution on the immediate removal of Trump, despite the fact that he will step down on January 20. There was no significant economic news in the US yesterday. Inflation data for December is due today. The forecast is neutral. Earlier, the Fed announced that it would maintain the current monetary policy while inflation is below 2% per annum. Euro quotes resumed their fall this morning. JPMorgan and UBS Group AG unexpectedly published a forecast of a 4% contraction in the Eurozone's GDP in the 1st quarter of 2021, while it was previously expected to grow by 1.3%.

On Tuesday, American stocks rose slightly. Carmaker General Motors announced the start of deliveries of its own electric vehicle - the EV600 commercial van for the postal service FedEx Corp (+ 1.5%) and it soared by 6.2%. Electric passenger car maker Tesla rose 5% after reporting plans to build an assembly plant in India. Twitter and Facebook blocked former US President Donald Trump and their shares fell by about 2.5%. Now investors are likely to have reduced activity in anticipation of the start of the US reporting season for the 4th quarter of 2020. It kicks off Friday with reports from Citigroup, JPMorgan and Wells Fargo&Co. Refinitiv slightly improved its forecast for the total profit of companies from the S&P 500 list. Now it is expected to decrease by -9.5% compared to the 4th quarter of 2019, rather than -9.8%. Further financial performance will improve dramatically. At the end of the 1st quarter of 2021, Refinitiv expects the total profit of companies from the S&P 500 list by + 16.4%.

World oil prices rose yesterday.The independent American Petroleum Institute announced a reduction in US oil reserves for the week by 5.8 million barrels to 484.5 million. Official data will be released as usual tonight.Investment bank Goldman Sachs predicts the growth of Brent crude quotations to $ 65 per barrel by the middle of this year.An additional positive for oil yesterday was the statement by the head of the PRC Xi Jinping on the positive development of the Chinese economy, as well as good data on lending (New Yuan Loans) in December.