Top of the agenda: what you can't miss in the economy and markets this week

The week will be marked by the inauguration of Joe Biden as President of the United States. Analysts and investors will also be watching the meeting of the European Central Bank, in a week in which there is also a meeting of the Eurogroup. Also noteworthy is the publication of data on the indebtedness of the Portuguese economy.

Forum BCE 2020 — Christine Lagarde

Monday, January 18

Featured event: Eurogroup meets with Recovery Plans on the agenda

The Eurogroup meets this Monday, with recovery and resilience plans on the table. "Ministers will exchange views on the preparation of national plans for recovery and resilience, in the context of the policies agreed in the recommendation for the euro area", says the agenda, which also indicates a debate on imbalances macroeconomic factors in the euro area following the pandemic.

Other events in focus:

  • Presidential: joint debate between all candidates transmitted by TSF, Renascença and Antena radios 1
  • Statistics Portugal releases rapid air transport statistics for November
  • China's fourth quarter 2020 GDP is known

Tuesday, January 19

Featured event:

EDP ​​holds this Tuesday the general meeting that will elect the new executive board of directors (CAE) for the period between 2021 and 2023. In practice, it will confirm Miguel Stilwell as executive chairman, who assumed the interim management since the suspension by António Mexia. The proposal that will be voted on also includes the names of Miguel Setas, Rui Teixeira, Vera Pinto Pereira and Ana Pina Marques.

Other events in focus:

  • Ecofin meeting
  • INE publishes industrial production price indexes, from December
  • Statistics Portugal publishes interest rates implicit in housing loans, from December
  • Banco de Portugal publishes the statistical information note for central balance sheet companies
  • Eurostat discloses the production of construction of the European Union and the euro area, for November
  • Eurostat releases December eurozone inflation


Wednesday, January 20

Featured event: Joe Biden takes office as President of the United States

Joe Biden takes office this Wednesday as the 46th President of the United States, after winning the elections on November 3. Donald Trump, who took two months to recognize his opponent's victory, unlike outgoing vice president Mike Pence, will not go to the inauguration of his successor and will even leave Washington hours before the inauguration, according to the international press.

Other events in focus:

  • Statistics Portugal publishes the economic summary of the situation, of December
  • Banco de Portugal discloses Portugal's international investment position in the third quarter
  • Eurostat releases euro zone inflation for December

Thursday, January 21

Featured event: First European Central Bank meeting of the year

The European Central Bank's Board of Governors meets this Thursday for the first time this year. In December, the institution chaired by Christine Lagarde proceeded with the process of recalibrating the central bank's monetary policy instruments to attack the crisis, in which the increase of PEPP by 500 billion euros stood out, to a total of 1,85 billions of euros, and the extension of the respective deadline until March 2022. However, according to the minutes released last week, this reinforcement was not unanimous among the members of the Council.

Other events in focus:

  • Banco de Portugal discloses the indebtedness of the economy, as well as the financing of public administrations
  • Eurostat publishes eurozone government deficit and debt data for the third quarter

Friday, January 22

Featured event: Signs on the health of the economy in the eurozone

The Service PMI and the Eurozone Industry PMI for January are known. Any value greater than 50 in the PMI indicates expansion of production, while values ​​below 50 indicate contraction. The United States PMI is also released.

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