Economic Calendar Prepare for the last full week of trading before the holidays, as events head for more excitement. Despite the announcement of the first phase of the trade agreement between China and the United States, the atmosphere is still murky. The Conservatives also achieved an explicit majority, and now the Brexit Agreement will pass without any hindrance, but the BoE announcement will give the markets a clearer view. This week includes a number of speeches and meetings with federal officials, and we know the vision about the American economy and the eurozone economy. Here is the most important thing to know for the beginning of the week.
1.The commercial agreement with his rolling round continues
China said on Sunday that it would not impose more tariffs on a number of American goods, and was scheduled to impose tariffs on December 15, after the world’s two largest economies agreed on the first stage of the trade agreement on Friday.
Markets moved violently in response to news, rumors and leaks about the trade agreement, which would reduce customs duties between the two countries. Thus, China will return to buy more American agricultural products. However, neither side has announced more details about the volume of purchases that Beijing agreed to purchase.
While US President Donald Trump announced the start of talks on the second stage of the agreement, Beijing made it clear that the transition to the second stage, depends on the implementation of the terms of the first stage.
2. Is the Brexit Cloud clears?
British Prime Minister Boris Johnson scored an overwhelming electoral victory, paving the way for Britain to leave the European Union on January 31. Actions can begin as soon as Parliament opens with the Queen’s speech on Thursday. The Queen’s speech is an indication of all laws the government plans to implement next year.
On Sunday, Michael Goff said that the government’s most important priority is to leave the European Union on January 31, and secure a trade agreement with the union by the end of next year.
On Tuesday, we await the first appearance of the Bank of England after the elections. Investors are watching for any shifts in opinions on: inflation, the British economy, and the future interest rates in 2020.The stock closed Sunday’s trading at 37.40 riyals per share, an increase of 1.63%.
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