The UK Parliament may be in with a chance to vote on Brexit withdrawal agreement after the Christmas recess.
UK Prime Minister Theresa May intends to hold a meaningful vote the week commencing 14 January 2019, without any amendments from the European side. In preparation, May will ask her Cabinet today to decide on three ways Britain could prepare for Brexit if the agreement fails to pass through Parliament. The Times has suggested that the government is stepping up no-deal preparations, highlighting the lack of support for the agreement.
Stock markets fell sharply overnight as concerns over the US-Chinese trade tensions, weak global growth prospects and expectations of another rate rise from the Federal Reserve tomorrow night weighed on sentiment. The S&P 500 ended the US trading session down 2.1 per cent, bringing its total fall since September to 13.3 per cent.
Germany will release today its latest Ifo Business Climax Index data. A leading indicator of economic health in Germany and the Eurozone, it could show signs of Brexit contagion and a global economic slowdown.
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