Glacier FarmMedia COVID-19 & the Farm

Global Markets: New coronavirus strain likely in North America

By MarketsFarm

WINNIPEG, Dec. 23 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– The Director of the National Institute of Allergy and Infectious Diseases, Dr. Anthony Fauci, stated on Tuesday that the new strain of the coronavirus found the in the United Kingdom may already be in North America. “I would not be surprised that it already is at low levels in other countries that have not yet detected it, including Canada, including the United States,” Fauci said in a CBC interview. The new strain is believed to be 70 per cent more transmissible. However, Fauci stressed it’s unlikely the new strain causes more severe illness and unlikely that it’s resistant to the COVID-19 vaccines.

– A trade deal between the U.K. and the European Union is said to be imminent, according to reports on Wednesday. A breakthrough was reportedly made over EU fishing rights in U.K. waters, although there are still many other contentious issues. While the new trade agreement won’t be approved before Christmas, it can still be ratified by the U.K. Parliament by Dec. 31, the date the current trade agreement runs out.

– The U.S. Department of Labor reported on Wednesday that initial jobless claims dropped for the first time since April. Those claims for state unemployment benefits totaled 803,000 when seasonally adjusted. The report came just as several states have imposed stricter lockdown measures as the COVID-19 pandemic continues to take its toll on the U.S.

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