One deal down, two to go
b'Friday 4th December 2020OPEC+ has struck a deal to slowly increase oil production from next month, rather than letting the production cuts fall off a cliff. NAB\\u2019s Tapas Strickland says they will also monitor progress and make adjustments accordingly. That\\u2019s helped the oil price this morning, but the two other deals on the table remain in limbo. Talks over the post Brexit EU-UK trade deal remain in gridlock. The pound has remained resiliently strong, although it\\u2019s lost a little ground as doubt creeps in over last minute talks. The US fiscal stimulus deal seems to be edging slowly forward, although the size of it might be reduced in the rush for a compromise. Meanwhile equity markets have hit new highs as investors see through the rise in US infections, hospitalisations and fatalities, and ignore weaker ISM numbers. Perhaps tonight\\u2019s non-farm payrolls are a less important too. It\\u2019s less about the \\u201cnow\\u201d and more about the \\u201cwhat next\\u201d.
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