TURKEY: Local Press Say Prosecutors Seeking 7 Year Sentence for Istanbul Mayor

• The Dollar takes another leg lower, a continuation since the Trump Washington Post story on Tariffs earlier, testing broader base lows against the Yen, GBP, EUR, CZK, CNY, AUD, NOK, and NZD.
• AUD is the best performer now in G10, up 1.32% and testing the 0.6300 handle, this area also represent levels AUDUSD was trading at the pre last Hawkish FOMC on the 18th December.
• Small immediate resistance is seen at 0.6308.

• 5,000 SFRU5 95.62/95.81 put spds 7.0 vs. 10,000 96.75/97.12 call spds, 4.5, 2.0 net package at 0823:06ET

• Vice President Kamala Harris will gavel in a joint session of Congress at 13:00 ET 18:00 GMT to count Electoral College votes affirming President-elect Donald Trump’s presidential election victory. The count is expected to take around an hour and pass without incident.
• House Speaker Mike Johnson (R-LA) secured re-election on Friday, following an intervention from Trump, who spoke with two Republican lawmakers who appeared set to block Johnson's bid on the first ballot.
• Trump confirmed on social media that he intends to pursue a single mega-bill to cover the bulk of his legislative agenda, a break from the two-step plan outlined by incoming Senate Majority Leader John Thune (R-SD). The bill, which would cover border security, energy, and tax reform, could be one of the biggest pieces of legislation in American history.
• Trump's aides are reportedly exploring plans to water down a Trump campaign proposal to apply a universal baseline tariff on all US imports.
• Nippon Steel has filed a lawsuit against the Biden administration for blocking a proposed acquisition of US Steel.
• Biden will indefinitely block offshore oil and gas development in roughly 625 million acres of coastal waters.
• Biden signed into law the Social Security Fairness Act at his first public bill signing ceremony for more than two years.
• Chart of the Day: Trump is facing historical headwinds if he is to reduce the US trade deficit with China. 

Full article: US Daily Brief