Weekly News 20.01 — 24.01.2020


The list of important events of the week include the World Economic Forum in Davos, Switzerland, as well as the final draft bill on France’s pension reform. Besides, market participants will follow the key rate decisions of the Bank of Canada and the ECB.

 

Key Events on the Economic Calendar

  • On January 21, the UK releases a report on Initial Jobless Claims.
  • On January 22, the Bank of Canada releases its interest rate decision.
  • On January 23, the ECB releases its interest rate decision.
  • On January 24, Germany publishes the Ifo Business Climate Index.

 

January 20. Hearing on Huawei’s CEO

The court in Vancouver (Canada) will hold extradition hearings on the case of Huawei’s chief financial officer Meng Wanzhou. A year ago she was arrested in Canada and faced extradition to the US on suspicion Huawei violated US sanctions against Iran. Now the Canadian prosecutors accuse her of committing fraud.

 

January 21. Davose Forum and Hearings on Trump Impeachment

The World Economic Forum starts its work in Davos. The meeting will be held until January 24. Global warming, international trade, assistance to industry, and other technological and economic issues are likely to be the key topics.


The U.S. Senate will continue the presidential impeachment hearings initiated by the House of Representatives. Chief Justice John Roberts will preside over the trial. Donald Trump is unlikely to be removed from office: Trump’s fellow Republicans hold a Senate majority.

 

January 22. France, Russia, and Palestine

French President Emmanuel Macron and his Russian counterpart Vladimir Putin will pay official visits to Palestine. The leaders will discuss the situation in Libya, Syria and the Middle East in general. They will also focus attention on the settlement of the Palestinian-Israeli conflict.

 

January 23. Hearing on the Julian Assange Case

Another extradition hearing will be held on the case of Julian Assange, the founder of WikiLeaks. Recall that Julian Assange had lived on the territory of the Ecuadorean Embassy in London for 7 years. Last year he was handed over to the British authorities and now is facing extradition to the US. In the US, he is accused of disclosing classified information.

 

January 24. Draft Law on Pension Reform in France

French Prime Minister Edouard Philippe will present a draft pension reform, which is to be discussed in Parliament in February. The reform includes raising the retirement age and abolishing a large part of benefits. France’s trade unions have been striking over the changes since December.


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