The global economy is facing a ‚complicated time‘, says Goldman Sachs CEO, David Solomon, in an event in Singapore
On the issue, he says that the unprecedented levels of stimulus by governments and central banks have led to exuberance in certain markets. Adding that:

Merkel labels the COVID-19 situation in Germany as dramatic
She’s not exactly wrong as the 7-day incidence rate has surged up to a whopping 343.9 in the past 24 hours with the number of active COVID-19 cases fast approaching the 500,000 mark across the country.

Remarks by ECB vice president, Luis de Guindos
here
The more dangerous risks associated with stagflation may not be a big threat now but persistently high inflation in itself is a problem that can’t be ignored.

Latest data released by Eurostat – 17 November 2021
A lagging data point but shows a modest bounce in construction output towards the end of Q3 but comes after a steeper drop in August. Supply and capacity constraints will keep more pressure on this in the months ahead.

The greenback sits higher across the board, except against the pound
The dollar momentum may have cooled for a bit towards the end of last week and in the early stages of this week but it has certainly not let up especially with EUR/USD continuing to make fresh lows since July last year.

Bitcoin dips below $60,000, first time since 1 November
The $60,000 mark will be one to watch going into the daily close as it holds a psychological importance but the 27-28 October lows around $58,000 will also be regarded as key technical support at the moment on the charts.

Latest data released by Eurostat – 16  November 2021
The preliminary report can be found . No change to the initial estimate, thus just reaffirming a modest expansion in terms of overall activity in the last quarter.

EUR/GBP falls to fresh two-week lows
A weaker euro which isn’t helped by a lack of support levels in EUR/USD certainly isn’t helping the case for a continued push lower in EUR/GBP but the pound has certainly shown some resilience over the past few days.

The CEO of trading giant Trafigura Group, Jeremy Weir, says that the oil market is „very, very tight“
Adding that „there are no freely available barrels“ and while additional supply is needed, it is unclear if and when that will arrive; speaking at a commodities summit.

Further remarks by Lagarde
This ties back to her pushback earlier . It isn’t anything that we haven’t heard of before but let’s see if and how all of this language will change in the next six months.