This week’s releases include the latest data on US GDP, China’s industrial production, and UK interest rate. France is preparing for a large strike. U.S. may impose sanctions on the Nord Stream 2 Russian gas pipeline.
Most important events on the economic calendar:
- China releases its November data on industrial production on December 16th.
- The UK releases its November report on jobless claims on December 17th.
- New Zealand releases its Q3 GDP report on December 18th.
- The Bank of England publishes its interest rate decision on December 19th.
- The US releases its final report on its Q3 GDP on December 20th.
December 16. Hong Kong leader heads to boss
The Hong Kong leader Carrie Lam is to meet Chinese President Xi Jinping in Beijing. We can expect a lot from this meeting: from personnel reshuffles in the administration of the autonomy to a replacement of Ms Lem with a stronger politician.
Recall that protests have been shaking Hong Kong for over six months now. The situation has now returned to normal as pro-democracy candidates won in the local elections.
December 17. A massive strike in France
A general strike over the pension reform announced by Prime Minister Edouard Philippe is to take place in France. One of the country’s largest trade unions, the French Democratic Labor Confederation (CFDT), is to take part in it. The organization’s leaders had refrained from protest activity for a long time, but they announced that the government had crossed the red line.
December 18. Launch of Samsung foldable phone. Iran’s nuclear program
Samsung is preparing to unveil its Galaxy Fold 2, a smartphone with a bendable screen. Recall that the first model of Galaxy Fold had a number of drawbacks. Samsung assures that the new model does not have them.
Samsung retains its leadership in the smartphone market. In the second quarter, the company’s sales of mobile devices exceeded 23% of the global volume.
The UN Security Council will discuss issues related to Tehran’s implementation of the official Plan of Action on Iran’s nuclear program. The Islamic Republic of Iran is likely to be criticized for gradually scaling back its commitments (which was a response to Washington’s anti-Iranian sanctions). Note that news on Iran occasionally affects oil prices.
December 19. Iranian leader in Japan
Iranian President Hassan Rouhani may visit Japan to meet Prime Minister Shinzo Abe. Tokyo is trying to help resolve the issue of Iran’s nuclear program by acting as an intermediary between Washington and Tehran.
December 20. Sanctions against a gas pipeline
Until December 20, the U.S. may impose sanctions against the companies involved in the construction of the Nord Stream 2 gas pipeline and their top management. The restrictions will affect organizations from Russia, the Netherlands, Austria, and Germany. The law is expected to be adopted before the congressmen go on Christmas holidays.