The US-China phase 1 deal that has been officially announced on Friday will be signed at the first week of January. The additional tariffs scheduled for 15 December have been postponed, and a small part of already implemented tariffs has been waved. The fact that phase 2 is being postponed for November 2020, after the presidential elections, and the limited scope of the phase 1 deal, makes financial markets participants considering that phase 1 deal is pretty small, coming at a pretty high cost.
Boris Johnson is sending out “a get things done” flavor, as he intends to get his Brexit bill voted before Christmas.
Today, the EU Parliament discusses on Uyghurs living in China.
On Thursday, it is the turn of the Bank of Japan, Bank of England and Norges Bank to have their monetary meetins.
Macro releases: Friday’s US retail sales have been weak. Today the economic calendar includes the German, the European and the USA Manufacturing PMI. In addition, the UK banks’ stress tests are being published.
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