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1) The U.S. is expected to have added 175,000 new jobs in December

A solid figure, and inline with the 180,000 rate for the first 11 months of 2016. That's more than enough jobs per month to keep the unemployment rate—already at the historically low level of 4.6%—headed lower, according to Jim O'Sullivan, Chief U.S. economist with High Frequency Economics.

2) The U.S. will be energy independent in 10 years,

the Energy Information Administration estimates, thanks to shale gas. This could have huge implications for U.S. foreign policy, taking pressure of the United States to maintain order in the Middle East, where the majority of oil reserves lie.

3) China is trying to boost its currency as its economy slows.

Chinese officials have instructed state-owned banks in Hong Kong—where the currency trades more freely than the mainland—to restrict lending to other banks. This drives up the cost of borrowing yuan, which makes it more expensive to short the currency. This runs counter to Trump's narrative that China keeps the value of its currency low to make their exports cheaper.

What to watch for today:

Average hourly earnings from today's payroll report at 8:30am. Evidence of accelerating wage gains could force the Fed to raise rates again sooner rather than later.

Go deeper

Brazil begins distributing AstraZeneca coronavirus vaccine

Containers carrying doses of the Oxford/AstraZeneca vaccine arrive in Brazil. Photo: Maurio Pimentel/AFP via Getty Images

Brazil on Saturday began distributing the 2 million doses of the AstraZeneca coronavirus vaccine that arrived from India Friday, Reuters reports.

Why it matters: Brazil has the third highest COVID-19 case-count in the world, according to Johns Hopkins University data. The 2 million doses "only scratch the surface of the shortfall," Brazilian public health experts told the AP.

Sullivan speaks with Israel's national security adviser for the first time

Israeli national security adviser Meir Ben Shabbat U.S. Photo: Mazen Mahdi/Getty Images. U.S. national security adviser Jake Sullivan. Photo: Chandan Khanna/Getty Images

U.S. national security adviser Jake Sullivan spoke on the phone Saturday with his Israeli counterpart Meir Ben Shabbat, Israeli officials tell Axios.

Why it matters: This is the first contact between the Biden White House and Israeli prime minister's office. During the transition, the Biden team refrained from speaking to foreign governments.

Biden speaks to Mexican president about reversing Trump's "draconian immigration policies"

Mexican President Andrés Manuel López Obrador. Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

President Biden told his Mexican counterpart, Andrés Manuel López Obrador, on a phone call Friday that he plans to reverse former President Trump’s “draconian immigration policies.”

The big picture: The Biden administration has already started repealing several of Trump’s immigration policies, including ordering a 100-day freeze on deporting many unauthorized immigrants, halting work on the southern border wall, and reversing plans to exclude undocumented people from being included in the 2020 census.