The key economic releases this week are durable goods and GDP on Friday. On the political front, the focus will be is on the first actions of the Trump administration including moves on TPP and NAFTA. There are no scheduled Fed speeches this week.
Arond the globe, the UK Supreme Court decision on Art.50 and the Italian Constitutional Court’s decision on the electoral law are on Tuesday. In EM, we have monetary policy meetings in Colombia, Hungary, Turkey, South Africa and Ukraine.
The focus this week will remain on politics, and specifically the first actions of the Trump administration – last week his spokesman promised swift moves on TPP and NAFTA – but also on the UK as the Supreme Court decision on Article 50 is due on Tuesday. On this latter, much of the focus is on whether the court issues a separate judgement which would grant the regional assemblies of Northern Ireland, Wales and Scotland the right to vote on whether the Art.50 is triggered or not. Italian constitutional court decision on electoral law. The decision expected this Tuesday comes at a time when the main political parties are already negotiating for a new electoral law. At this point, with a partial rejection by the court being cited as a more probable outcome, a non-constitutionality decision may accelerate current negotiations for the new electoral law which aims to be more compatible with that of the Senate and favor a more proportional system.
This post was published at Zero Hedge on Jan 23, 2017.