06:27 AM EST, 01/20/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Monday highlighted:

Markets: United States Treasury futures declined into New York close, stabilise in Asia. Asian stocks advance, e-minis are mixed. EUR recovers above $1.03. Brent is on the backfoot.

U.S: President-elect Donald Trump plans to invoke emergency powers to unleash domestic energy production while seeking to reverse President Joe Biden's actions to combat climate change (Bloomberg). Trump plans about 100 executive orders within hours of Monday's inauguration. He seeks to use DFC to create a sovereign wealth fund with a potential $120 billion capital injection to pursue geopolitical objectives.

U-S-: Debt ratio is set to exceed WWII levels at 107% by 2029 and reaching 118.5% by 2035, CBO projects. NY Fed gross domestic product Nowcast for Q4 rises to 2.56% from 2.36% and for Q1 to 3% from 2.74%.

U.S.: Treasury Secretary Janet Yellen says the Treasury will start taking special accounting measures as of Tuesday to avoid breaching the debt limit.

Fed withdraws from the network of global climate risk group (NGFS) after the group's work "increasingly broadened in scope" (statement).

Crypto: Donald Trump's memecoin surged before declining sharply -- market value reached $15 billion, then fell to $10bn -- after Melania Trump unveiled a competing coin. Bitcoin and Ether declined.

==EUROPE:

ECB: European Central Bank Executive Board member Isabel Schnabel currently sees "no major risks" for reaching the 2% inflation target, with "probably" more rate cuts to come, but "after the steep rate cuts over the last few months, we are getting closer and closer to the point where we have to take a closer look at whether and to what extent we can still reduce rates." Governing Council member Robert Holzmann says a rate cut in January isn't a foregone conclusion (Politico).

Germany: CDU/CSU slips 1pt to 29%, leaving a grand coalition without a majority. AfD also slips 1pt to 21%, SPD and Greens unchanged at 16% and 13%, BSW and FDP gain 1pt to 7% and 5% (Insa/Bild). Center-right Friedrich Merz says Trump is "very predictable," which is an "opportunity" for Europe.

Austria: Far-right FPO leader Herbert Kickl says his party doesn't want to leave the European Union but called for an end to Brussels' "climate communism."

Ratings: DBRS upgrades Portugal to A (high)/stable from A/positive, confirms ESM and EFSF at AAA/stable. Fitch affirms Estonia at A+/stable. Scope initiates rating for Rentenbank at AAA/stable.

==ASIA:

China: The central bank leaves loan prime rates unchanged at 3.1% and 3.6%; may cut the reserve ratio requirement before the Lunar Year holiday (local media).

Japan: Core machinery orders rose 3.4% month over month in November, much stronger than expected as consensus was a 0.8% decline.