Key Economic News to Watch This Week: Dec. 19
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A quick preview of the key economic events for the upcoming week:
With key U.S housing and economic growth data expected this week, analysts are expecting stronger results and a show of resilience from the world’s largest economy – a reprieve from the slew of bad news from the EU.
Monday, 19 December
Marco Draghi, head of the ECB speaks in Brussels at the Quarterly Hearing before the European Parliament Economic and Monetary Affairs Committee, with mounting pressure for him to print more notes.
A quick preview of the key economic events for the upcoming week:
With key U.S housing and economic growth data expected this week, analysts are expecting stronger results and a show of resilience from the world’s largest economy – a reprieve from the slew of bad news from the EU.
Monday, 19 December
Marco Draghi, head of the ECB speaks in Brussels at the Quarterly Hearing before the European Parliament Economic and Monetary Affairs Committee, with mounting pressure for him to print more notes.
Related Story: Europe’s Summit to the Death: Kevin O’Rouke
The British government responds to recommendations by the Independent Commission on Banking on the future of the financial services industry.
Related Story: Vickers’ Banking Reforms: Yay or Nay?
Related Story: Banking’s Biggest Dilemma – Stability or Competition? : Xavier Vives
Related: HSBC Could Quit UK, Citing Potential $2.5 Billion Cost From New Regulations
The International Trade Commission is expected to rule on Apple’s patent case against HTC Corporation, which could lead to a ban on the import of Android phones.
Tuesday, 20 December
Kweku Adoboli, a former UBS trader accused of $2.3 billion of losses in unauthorised trading is scheduled to appear in court in London.
Related Story: Inside the Mind of UBS ‘Rogue’ Trader
Related: UBS Nets $1.16 Billion Profit in Q3 Despite Rogue Trader Scandal
Jews celebrate Hanukkah, the Jewish festival of lights.
Wednesday, 21 December
The European Union’s highest court is expected to give its final ruling on a European law that would require all airlines to pay for carbon emissions.
The Bank of Japan announces its rate decision. Analysts expect the Bank to maintain the benchmark interest rate in the current 0 percent to 0.10 percent target band – in line with the country’s expansionary monetary policy targeted at economic recovery.
The United States releases its Q3 GDP results, with most forecasts expecting the world’s largest economy to register a 2.0 percent quarterly growth (against same quarter in 2010).
Mariano Rajoy is expected to be sworn in as Spain’s prime minister after his Popular party’s landslide victory in last month’s general election.
Thursday, 22 December
The United Kingdom releases its Q3 GDP figures, expected to grow by 0.5 percent q-o-q.
University of Michigan releases its monthly U.S. Consumer Sentiment index, forecasted to end the year on a high note of 68.0 in December.
Related: EconomyWatch real-time global consumer confidence index
The Winter Solstice, or the shortest day, occurs in the northern hemisphere while the southern hemisphere enjoys the Summer Solstice of maximum daylight.
Sunday, 25 December
Pope Benedict XVI gives his Urbi et Orbi blessing and Christmas message from the Vatican in Rome.
