Weekly News 09.12–13.12.2019


The Fed and the ECB are to release interest rates this week. The UK will report its data on GDP, and the US will release its retail sales. US senators are to discuss new sanctions against Russia, and the UK is to hold a parliamentary election.

 

Most important events of the economic calendar

  • The UK releases its GDP report on December 10th.
  • The Fed publishes its interest rate decision, and OPEC releases its monthly report on December 11th.
  • The ECB reports on whether it keeps the same interest rate or changes it on December 12th.
  • The US releases its December report on core retail sales on December 13th.

 

December 9. The Norman Four

The Norman Four countries— Ukraine, Russia, France, and Germany— are to meet in Paris for another round of talks on the situation in south-eastern Ukraine. Since President Zelensky came to power, the dialogue between Kyiv and Moscow has become more peaceful. The meeting may have a positive impact on the conflict settlement process.

 

December 10. Macbook killer

Xiaomi launches its Redmi-branded RedmiBook laptop. Some experts already call it a Macbook killer due to its lightness, thin bezel design, and a powerful processor.

 

December 11. DASKA and anti-Russian sanctions

The US Senate will discuss the Defending American Security from Kremlin Aggression Act (DASKA), which implies imposing new sanctions on Russia. The list of reasons for new sanctions on Russia includes Russian interference in the US presidential election and the Kremlin’s rhetoric on the military conflict in south-eastern Ukraine. New sanctions target the banks and secondary sovereign debt.

 

December 12. UK elections

Early general election takes part in the UK. Prime Minister Boris Johnson plans to win a majority in Parliament. According to opinion polls, the Labor Party is likely to lose. Johnson promises a 100-day withdrawal from the EU and economic reforms.

 

December 13. ECD reforms

Finance ministers of 19 EU member states will meet to discuss the budget system reform. The European Commission has recently said Italian and French draft budgets violated the EU’s fiscal rules. However, no demand for improving the situation followed. Perhaps, this indicates that the EU is going to take action on its budget reform. We do not rule out hints at the start of a series of measures to stimulate the economy.


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