Economic calendar: US stimulus and the Brexit vote in focus

• UK parliament vote on the Brexit trade deal
• US Pending Home Sales and Chicago PMI 
• Additional US stimulus uncertain

Economic calendar today is light with just a few releases scheduled for the US session, namely November trade and home sales figures and Chicago’s PMI for December. However, neither of these tend to have a major impact on the markets. Away from the economic calendar, House of Commons’ vote on the Brexit agreement and updates from Capitol Hill will remain key drivers. According to the UK Government, the implementation of the agreement needs to be confirmed through legislation which will need the approval of the House of Commons and House of Lords just a day before the transition period concludes. Also the US stimulus package remains a key area of focus, as investors yesterday expressed concerns whether the Senate would approve additional pandemic aid checks. Senate Majority Leader Mitch McConnell said the chamber would address this week President Donald Trump’s call for an increase in stimulus payments from $600 to $2,000, after blocking an immediate consideration of the measure on Tuesday.

8:00 GMT - Switzerland, KOF Economic Barometer. Expected: 101, Previous 103.5

9.30am GMT - Debate in the House of Commons on the Brexit agreement

1:30 pm GMT - US, Goods Trade Balance Adv (NOV). Expected: -81.50, Previous -80.3

2:45 pm GMT - US, Chicago PMI (DEC). Expected: 57, Previous 58.2

3:00 pm GMT - US, Pending Home Sales MoM (NOV). Expected: 0.1%, Previous -1.1%

3:30 pm GMT - EIA Crude Oil Stocks Change (25/DEC). Expected: -1.7M, Previous -0.6M