Weekly News 24.02 — 28.02.2020


This week, traders will focus on GDP data of the world’s largest economies, political talks on Libya, and Donald Trump’s meeting with Indian Prime Minister.

 

Major Events on the Economic Calendar

  • Germany releases its IFO Business Climate Index on February 24.
  • Germany releases its Q4 GDP on February 25.
  • The US releases the recent data on New Home Sales on February 26.
  • The US releases the revised data on Q4 GDP on February 27.
  • Canada releases a report on its GDP for December 2019 on February 28.

 

February 24. Contender for the post of German Chancellor. Talks on US-India Deal

On 24 February, CDU party leader Annegret Kramp-Karrenbauer will suggest a successor for her role. We remind you that earlier the politician has renounced her Chancellor candidacy.


US President Donald Trump will pay a two-day visit to India and meet with Prime Minister Narendra Modi to discuss the terms of a trade deal between the two countries. Earlier Trump has expressed confidence in the positive outcome of the negotiations but he did not mention the terms of the agreement.

 

February 25. The Future of the EU-UK relations

Leaders of 27 EU countries will vote to ratify the negotiation plan with Great Britain. If they approve the plan, London and Brussels have to sign a set of financial services agreements by the end of June 2020.

 

February 27. Talks on Libya

A forum on the resolution of the situation in Libya will be held in Geneva. During the recent conference in Munich, the parties did not make any effective decisions, confining themselves to calls for a ceasefire. However, the forces of Field Marshal Khalifa Haftar continue shooting, and the hostilities at sea ports harm oil exports.

 

February 27. Malaysian antivirus plans

Malaysian government is expected to announce a stimulus package to support the economy of the country affected by the spread of coronavirus COVID-19 in China. The government plans reflect the impact of the virus outbreak on the economy of the entire region.

 

February 28. Pompeo Testifies before Congress

U.S. Secretary of State Mike Pompeo will testify before the House of Representatives Foreign Affairs Committee. He should clarify Iran and Iraq policy of the U.S. President. A number of congressmen are dissatisfied with the drone strike that killed Iranian General Qassem Soleimani, which led to the deterioration of relations with Tehran.


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