Week In Review
- US Consumer Confidence (Dec)• China Manufacturing PMI (Dec)
Thought Of The Week
Although it was a short trading week due to the holiday season, US President Donald Trump did not fail to create more chaos in the markets than needed. Congress finally passed a US$900 billion fiscal stimulus package after months of negotiations but was met with strong criticisms by Trump. His attack on the relief bill came after he vetoed the annual US defence spending bill worth US$740 billion. Democrats and Republicans have stated that they have both the intention and necessary votes to override Trump’s objection to the defence bill, which would mark the first time that Congress overrules him over a veto.
The EU-UK Deal is Done
EU and UK have finally sealed a Christmas trade agreement that will define the £660 billion trading relationship after hammering the painful compromises over fishing rights and satisfying EU’s demands for a regulatory level