Comments by French finance minister, Bruno Le Maire
The question about spending is pretty much an eternal tale as this point. A way to look at spending is that it is a reflection of tax timings. So, as much as governments are obligated to talk about who is going to pay for all of this and

Latest data from the Mortgage Bankers Association for the week ending 8 January 2021
– +1.7%
– Market index 965.2 vs 827.2 prior
– Refinancing index 4,706.3 vs 3,917.6 prior

AUD/USD falls back to test its key hourly moving averages
The dollar is keeping firmer on the session as we see the push and pull in the market this week continue to play out. Following the move lower yesterday, the greenback is returning back to favour amid the tepid mood in the market today.

Comments by UK vaccine deployment minister, Nadhim Zahawi
That would be an encouraging start to the rollout plan but we’ll see if things will continue to progress smoothly in the coming months so as to allow for a better economic reopening in the spring and especially in the summer season.

Dollar gains slightly in European morning trade
European indices are reflecting a mixed picture with S&P 500 futures now down 0.1% but is keeping little change throughout. Meanwhile, 10-year Treasury yields are off earlier lows of 1.105% to 1.122% currently – closer to flat levels on the day.

Comments by Japanese prime minister, Yoshihide Suga
added
While not lawfully binding, the measures are still likely to be abided for the most part and the call for tighter restrictions will chip away at the Japanese economy to start the year.

DAX turns flat as European equities give up opening gains
Elsewhere, US futures are still holding on to slight gains with S&P 500 futures up 0.2% while Nasdaq futures are up 0.3%. Meanwhile, 10-year Treasury yields are nudging a little higher again as it is up 1.2 bps to 1.158% currently.

Latest data released by NFIB – 12 January 2021

Latest Chinese credit data for December has been released – 12 January 2021
Broad money growth eases slightly towards the end of last year but remains rather elevated as China continues to maintain a healthy supply of credit in order to try and bolster the economy amid the virus crisis.

Bild reports on the matter
The newspaper cites officials who took part in a meeting of the German CDU/CSU party, says that Merkel warned that the country still needs „eight to ten weeks of hard lockdown measures“, if not „we will have 10 times the number of cases by Easter“.