MILANO – There are still fears for the variant Omicron and the threat of inflation to affect the mood on the markets in the week that is about to open. The lists reacted heavily to the spread of the first news on the variant, only to partially recover ground over the course of the days. It remains to be understood that if the concerns related to Omicron and the trend of the infections will force the countries to a new squeeze, just before the holidays. Cryptocurrencies have been particularly affected in the last few days, also discounting concerns about a new Fed monetary tightening that could end up damaging digital assets.
Bitcoin & co crashing, Omicron and fears of a monetary squeeze put cryptocurrencies in crisis
by Flavio Bini
The key to defining the next moves of the US central bank will, as always, be the inflation data. The November update will arrive on Friday but last week President Jerome Powell shook the markets by clarifying for the first time that the flare-up in prices “is not temporary” and that for this reason a possible acceleration of the market is to be taken into account. tapering, i.e. the reduction of purchases by the Fed.
Istat also improves the estimates on Italian growth: + 6.3% this year and + 4.7% next
On the domestic shore, the examination of the more than 6000 amendments to the Maneuver presented to the Senate will begin during the week. After a first screening, with the parties that should carry out a selection by indicating the most relevant ones, the voting in the strict sense will begin. Times are very short given that the amended text issued by the Budget Commission will have to arrive in the classroom to be voted on and then pass through the Chamber for the second parliamentary passage. From here, if there are new changes, the text will bounce back to the Senate. All before the holidays since the text must be strictly fired before the end of the year.
The list of appointments reported by the breaking latest news
MONDAY 6 DECEMBER
– Istat: retail sales October – Atreju 2021, Minister Giorgetti speaker at the conference “Work in progress. The employment issue in Italy, at the meeting point between production and solidarity
– Cnel: press conference with President Treu, Inps Tridico president and Minister of Labor Orlando on the single code of national collective labor agreements
– TIM: President Rossi at the press conference “Stori di Risorgimento Digitale”, with Fuortes at Rai.
– ABI: the director general Sabatini at the hearing at the Foreign Affairs and Political Committees of the eu on the fact-finding survey Conference on the future of Europe; ABI: dg Sabatini at the conference “Are Europès Capital Markets ready for the future?” organized by Ebf
– Germany: orders to industry October – OECD: study on the impact of Covid-19 on tax revenues in developed countries. (breaking latest news) Ing
TUESDAY 7 DECEMBER
– Work: the Minister of Labor Andrea Orlando meets the social partners on the smart working protocol in the private sector; Bank of Italy: dissemination of “The balance sheet aggregates” “The official reserves of the Bank of Italy”
– EU: Third quarter GDP – Germany: industrial production in October; December Zew index
– China: November trade balance
– Japan: household consumption
– France: trade balance and balance of payments – USA: trade balance
WEDNESDAY 8 DECEMBER
– ECB: welcome speech by Christine Lagarde, President of the ECB, at the fifth annual conference of the European Systemic Risk Board
– USA: EIA data on oil inventories and production
– Japan: Third quarter GDP
THURSDAY 9 DECEMBER
– UniCredit Strategy Day 2021 Milano
– A2A-Politecnico Milano agreement for innovation, research and training initiatives; with the Rector of Politecnico Milano Resta, the President A2A Patuano, the CEO A2A Mazzoncini, the Mayor of Milano Sala
– BPM: ‘Gender-Equality’ conference, competence as a determining factor in ESGs; with Paoloni, Banco Bpm vice president, Perrazzelli, Bank of Italy Deputy General Manager, Di Noia, Consob Commissioner, Sabatini, Abi General Manager
– Bank of Italy: publication “Balance of payments of technology“
– Tourism: press conference Astoi, Fto, Fiavet, Maavi, Aidit Federturismo, assoviaggi
– Use: new grant requests
– China: inflation in November – Germany: foreign trade in October
FRIDAY 10 DECEMBER
– Istat: industrial production in October; exports of the Italian regions, January-September 2021 Cna: National Assembly with ministers Giorgetti, Giovannini, Orlando, Di Maio and Speranza
– Mise: Minister Giorgetti at the presentation of the structure on the crisis tables
– Confindustria: president of Bonomi at the event “The value of the enterprise. The value of the enterprise”, organized by Confindustria Sicilia; ECB: Fabio Panetta, member of the Executive Committee speaks at the conference “Present and future of money in the digital age. Opportunities for saving and development”, as part of the “Lectiones Cooperativae” organized by Federcasse
– Bank of Italy: publication “Banks and money: national series” “The Italian economy in brief”
-Use: inflation and core inflation November; Consumer Confidence University of Michigan.