The upcoming week will not be easy. The celebration of Christmas will be intertwined with unpredictable political events. The focus should be on the US budget crisis and Brexit solutions.
The US president refused to sign the interim budget, which allowed state institutions to work until February 8, 2019, until the Senate approves the appropriation of $ 5 billion for the construction of the border wall. Despite the support of the Donald Trump project by the House of Representatives, Democrats in the Senate are more likely to “fail” the vote and government agencies will begin to turn off work on Monday.
The last US budget crisis at the beginning of 2013 lasted until January 22, which led to a reversal and weakening of the dollar index relative to the basket of major currencies.
The Brexit theme is open and can arise at any time, investors and ordinary citizens believe in the EU and London’s contractual capacity. Any action or hint that can be positively interpreted by market participants will significantly strengthen the pound rate.
On Monday, the most low-liquidity day is expected: Japan, Hong Kong, Singapore, New Zealand, Australia rest. In Europe, a short working day on the stock exchanges of the largest economies in the EU: Germany, France, Italy, in the UK.
On Christmas Eve, in the afternoon, trading in the USA and Canada will close.