The UK Parliament will vote on Theresa May’s Brexit plan on Tuesday. It is a ballot that the Prime Minister cannot afford to lose. Essentially, the deal outlines the way that the UK will interact with the European Union after it leaves.
Those who want to remain in the EU are unlikely to vote for the deal. Those who want the UK to leave say the deal does not go far enough. The opposition party is expected to vote against the deal, which means that the deal is unlikely to get the required 320 votes.
American inflation numbers should provide some clues as to where US interest rates might be heading. Core inflation rate for November is expected to be 2.3%, which would be higher than the 2.1% in October. The headline rate could be 2.4%.
There are also US retail sales numbers, which could show that consumer purchases grew at a slower rate of 4.2% in November compared to 4.6% in the previous month.
China will report retail sales growth too. That is also expected to show that consumer purchases moderated to 8.4% in November compared to 8.6% in October.
The European Central Bank will announce its latest interest-rate decision on Thursday. It won’t come as a huge surprise if it announces no change to the benchmark refinancing rate. The ECB is expected to keep the rate at 0% until summer 2019.
India appears to have brought its consumer prices inflation under control. The forecast inflation rate for November is expected to be around 3.6%. The inflation rate last month of 3.3% was the lowest since September 2017.
Indonesia is expected to announce another heathy growth in consumer spending. In October, retail sales could have grown 4.8%, which makes 11 straight months of improved consumer spending.
And finally, Singapore retail sales growth could have climbed from 1.9% in September to 2.7% in October. September saw a rebound in car sales and food, and an acceleration in sales of goods & toiletries.
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